Pictet Asset Management SA Grows Position in EQT Co. (NYSE:EQT)

Pictet Asset Management SA grew its stake in shares of EQT Co. (NYSE:EQTGet Rating) by 433.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,949 shares of the oil and gas producer’s stock after purchasing an additional 88,523 shares during the quarter. Pictet Asset Management SA’s holdings in EQT were worth $3,748,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new stake in shares of EQT during the first quarter valued at approximately $31,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of EQT during the second quarter valued at approximately $32,000. First Command Bank purchased a new stake in EQT in the second quarter worth $46,000. Penserra Capital Management LLC purchased a new stake in EQT in the first quarter worth $47,000. Finally, CENTRAL TRUST Co purchased a new stake in EQT in the first quarter worth $59,000. Hedge funds and other institutional investors own 95.63% of the company’s stock.

Insider Activity

In related news, EVP William E. Jordan sold 98,783 shares of EQT stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $41.51, for a total value of $4,100,482.33. Following the completion of the sale, the executive vice president now directly owns 297,787 shares in the company, valued at approximately $12,361,138.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on EQT shares. PETERS & COMPAN reaffirmed a “sector perform” rating on shares of EQT in a research note on Friday, September 23rd. StockNews.com started coverage on EQT in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Credit Suisse Group dropped their price target on EQT to $60.00 in a research note on Tuesday, November 1st. Truist Financial dropped their price target on EQT from $73.00 to $67.00 and set a “buy” rating for the company in a research note on Friday, October 28th. Finally, Mizuho increased their price objective on EQT from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Monday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.88.

EQT Price Performance

Shares of NYSE:EQT opened at $41.03 on Monday. EQT Co. has a 1-year low of $17.95 and a 1-year high of $51.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.59 and a quick ratio of 0.59. The business has a fifty day moving average price of $42.60 and a 200-day moving average price of $42.51. The company has a market capitalization of $15.06 billion, a PE ratio of 9.08, a PEG ratio of 0.17 and a beta of 1.15.

EQT (NYSE:EQTGet Rating) last issued its quarterly earnings results on Wednesday, October 26th. The oil and gas producer reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.05. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.74 billion. As a group, equities analysts expect that EQT Co. will post 4.25 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Wednesday, November 9th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, November 8th. This represents a $0.60 annualized dividend and a dividend yield of 1.46%. EQT’s payout ratio is presently 13.27%.

About EQT

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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.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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