HB Wealth Management LLC Raises Position in EQT Co. (NYSE:EQT)

HB Wealth Management LLC grew its holdings in shares of EQT Co. (NYSE:EQT) by 29.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,737 shares of the oil and gas producer’s stock after acquiring an additional 4,048 shares during the period. HB Wealth Management LLC’s holdings in EQT were worth $818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of EQT. Sanctuary Advisors LLC grew its holdings in EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock valued at $2,327,000 after purchasing an additional 32,484 shares during the period. Retirement Systems of Alabama lifted its position in shares of EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after buying an additional 35,733 shares in the last quarter. FMR LLC grew its stake in shares of EQT by 2.5% during the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after acquiring an additional 28,129 shares during the period. Tidal Investments LLC raised its stake in EQT by 55.8% during the 3rd quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer’s stock worth $2,228,000 after acquiring an additional 21,789 shares during the period. Finally, Geode Capital Management LLC raised its stake in EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EQT. Wells Fargo & Company increased their price objective on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 8th. Mizuho raised EQT from a “neutral” rating to an “outperform” rating and raised their price target for the company from $48.00 to $57.00 in a report on Monday, December 16th. Scotiabank downgraded EQT from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $55.00 to $54.00 in a research report on Friday, January 17th. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price on the stock in a research note on Wednesday, January 15th. Finally, Piper Sandler upped their price target on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.89.

EQT Stock Up 0.7 %

Shares of NYSE EQT opened at $53.33 on Wednesday. EQT Co. has a 1 year low of $30.02 and a 1 year high of $53.98. The firm has a 50-day simple moving average of $46.01 and a two-hundred day simple moving average of $38.91. The company has a market cap of $31.82 billion, a P/E ratio of 63.48 and a beta of 1.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. Research analysts anticipate that EQT Co. will post 1.42 earnings per share for the current year.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’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 value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by company insiders.

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.