Victory Capital Management Inc. Lowers Stock Holdings in EQT Co. (NYSE:EQT)

Victory Capital Management Inc. lessened its holdings in shares of EQT Co. (NYSE:EQT) by 59.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 297,590 shares of the oil and gas producer’s stock after selling 439,719 shares during the quarter. Victory Capital Management Inc.’s holdings in EQT were worth $13,722,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EQT. Charles Schwab Investment Management Inc. lifted its position in EQT by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,093,857 shares of the oil and gas producer’s stock worth $234,878,000 after buying an additional 80,799 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of EQT by 287.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,737 shares of the oil and gas producer’s stock worth $311,000 after acquiring an additional 4,997 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of EQT in the fourth quarter worth approximately $99,000. Jones Financial Companies Lllp grew its holdings in EQT by 27.5% in the fourth quarter. Jones Financial Companies Lllp now owns 7,219 shares of the oil and gas producer’s stock valued at $333,000 after purchasing an additional 1,558 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in EQT by 45.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,761 shares of the oil and gas producer’s stock worth $129,000 after purchasing an additional 859 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on EQT. JPMorgan Chase & Co. lifted their price target on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Wells Fargo & Company boosted their price target on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, January 8th. Truist Financial upped their price target on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, January 13th. Citigroup lowered EQT from a “buy” rating to a “reduce” rating in a research note on Wednesday, March 5th. Finally, Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $48.00 to $57.00 in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.44.

EQT Stock Down 0.2 %

NYSE:EQT opened at $49.03 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market capitalization of $29.29 billion, a price-to-earnings ratio of 122.57, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. EQT Co. has a one year low of $30.02 and a one year high of $56.66. The stock has a 50-day simple moving average of $50.71 and a 200 day simple moving average of $43.28.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. Sell-side analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.29%. EQT’s dividend payout ratio (DPR) is 157.50%.

EQT Company Profile

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.