7,544 Shares in EQT Co. (NYSE:EQT) Acquired by abrdn plc

abrdn plc bought a new position in shares of EQT Co. (NYSE:EQTGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,544 shares of the oil and gas producer’s stock, valued at approximately $283,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EQT. Capital World Investors purchased a new stake in shares of EQT during the first quarter worth approximately $497,156,000. Renaissance Technologies LLC raised its stake in shares of EQT by 6,029.6% during the first quarter. Renaissance Technologies LLC now owns 6,424,264 shares of the oil and gas producer’s stock worth $221,059,000 after purchasing an additional 6,319,457 shares during the last quarter. PointState Capital LP purchased a new stake in shares of EQT during the first quarter worth approximately $163,646,000. Clearbridge Investments LLC grew its holdings in EQT by 66.1% during the first quarter. Clearbridge Investments LLC now owns 11,115,761 shares of the oil and gas producer’s stock worth $382,493,000 after acquiring an additional 4,423,003 shares during the period. Finally, Third Point LLC grew its holdings in EQT by 79.9% during the first quarter. Third Point LLC now owns 8,950,000 shares of the oil and gas producer’s stock worth $307,970,000 after acquiring an additional 3,975,000 shares during the period. Hedge funds and other institutional investors own 95.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on EQT shares. Morgan Stanley upped their price objective on EQT from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, October 19th. Royal Bank of Canada dropped their price objective on EQT from $57.00 to $55.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. Bank of America upped their target price on EQT from $72.00 to $74.00 and gave the company a “buy” rating in a report on Monday, September 19th. Truist Financial lowered their target price on EQT from $73.00 to $67.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Finally, TD Securities lowered their target price on EQT from $62.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.81.

EQT Price Performance

EQT stock opened at $42.90 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.59 and a current ratio of 0.59. EQT Co. has a 1 year low of $17.95 and a 1 year high of $51.97. The firm has a market cap of $15.75 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 0.18 and a beta of 1.15. The stock has a 50-day simple moving average of $43.17 and a 200-day simple moving average of $42.41.

EQT (NYSE:EQTGet Rating) last issued its quarterly earnings data on Wednesday, October 26th. The oil and gas producer reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.74 billion. On average, equities analysts predict that EQT Co. will post 4.32 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Wednesday, November 9th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 1.40%. EQT’s dividend payout ratio (DPR) is presently 13.27%.

Insider Buying and Selling at EQT

In other EQT news, EVP William E. Jordan sold 98,783 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $41.55, for a total transaction of $4,104,433.65. Following the completion of the sale, the executive vice president now owns 297,787 shares in the company, valued at approximately $12,373,049.85. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.48% of the stock is owned by insiders.

About EQT

(Get Rating)

EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2021, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.7 million gross acres in the Marcellus play.

Featured Stories

Institutional Ownership by Quarter for EQT (NYSE:EQT)

Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.