EQT (NYSE:EQT) CEO Toby Rice Sells 96,983 Shares

EQT Corporation (NYSE:EQT) CEO Toby Rice sold 96,983 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $54.28, for a total value of $5,264,237.24. Following the completion of the sale, the chief executive officer owned 2,334,924 shares of the company’s stock, valued at $126,739,674.72. The trade was a 3.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

EQT Stock Down 0.6%

Shares of NYSE EQT opened at $52.69 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $32.95 billion, a price-to-earnings ratio of 10.00 and a beta of 0.55. The stock has a 50 day moving average price of $57.64 and a 200 day moving average price of $57.65. EQT Corporation has a 52-week low of $48.47 and a 52-week high of $68.24.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.32. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. EQT had a return on equity of 9.74% and a net margin of 31.94%.During the same quarter in the previous year, the business earned $1.18 earnings per share. Sell-side analysts expect that EQT Corporation will post 4.7 earnings per share for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 6th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.66 dividend on an annualized basis and a yield of 1.3%. EQT’s payout ratio is 12.52%.

Analyst Ratings Changes

A number of brokerages recently commented on EQT. Roth Mkm reissued a “neutral” rating on shares of EQT in a research note on Tuesday, April 14th. Zacks Research lowered shares of EQT from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of EQT in a report on Sunday, April 26th. Morgan Stanley lifted their price target on shares of EQT from $69.00 to $74.00 and gave the stock an “overweight” rating in a report on Friday, March 27th. Finally, Wells Fargo & Company lifted their price target on shares of EQT from $70.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

Institutional Investors Weigh In On EQT

Large investors have recently made changes to their positions in the stock. Sound Shore Management Inc CT grew its holdings in shares of EQT by 31.8% during the third quarter. Sound Shore Management Inc CT now owns 1,526,821 shares of the oil and gas producer’s stock valued at $83,105,000 after buying an additional 368,748 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of EQT during the third quarter valued at $998,000. BOKF NA grew its holdings in shares of EQT by 25.9% during the fourth quarter. BOKF NA now owns 138,368 shares of the oil and gas producer’s stock valued at $7,417,000 after buying an additional 28,427 shares during the last quarter. Allstate Corp grew its holdings in shares of EQT by 114.0% during the fourth quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer’s stock valued at $2,601,000 after buying an additional 25,852 shares during the last quarter. Finally, Reaves W H & Co. Inc. grew its holdings in shares of EQT by 12.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after buying an additional 132,741 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.