Everence Capital Management Inc. Acquires Shares of 27,580 EQT Co. (NYSE:EQT)

Everence Capital Management Inc. bought a new position in EQT Co. (NYSE:EQT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 27,580 shares of the oil and gas producer’s stock, valued at approximately $1,272,000.

Several other hedge funds also recently made changes to their positions in EQT. HM Payson & Co. bought a new stake in EQT in the 3rd quarter worth $25,000. Truvestments Capital LLC bought a new stake in shares of EQT in the third quarter worth about $30,000. Hexagon Capital Partners LLC increased its holdings in EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 904 shares during the period. Quarry LP raised its position in EQT by 184.7% during the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in EQT in the 3rd quarter worth approximately $36,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Stock Performance

Shares of EQT stock opened at $47.02 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market capitalization of $28.06 billion, a price-to-earnings ratio of 55.98 and a beta of 1.12. EQT Co. has a one year low of $30.02 and a one year high of $48.33. The company’s 50-day moving average is $43.42 and its 200 day moving average is $37.90.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share. Sell-side analysts expect that EQT Co. will post 1.37 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were issued a $0.1575 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $0.63 annualized dividend and a yield of 1.34%. EQT’s payout ratio is 75.00%.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EQT has been the subject of a number of recent analyst reports. Mizuho upgraded EQT from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $57.00 in a report on Monday, December 16th. StockNews.com raised shares of EQT to a “sell” rating in a research report on Monday, December 30th. UBS Group lifted their target price on shares of EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Wells Fargo & Company increased their price target on shares of EQT from $42.00 to $52.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Piper Sandler lifted their price objective on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average price target of $47.78.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.