Oppenheimer & Co. Inc. Takes $274,000 Position in EQT Co. (NYSE:EQT)

Oppenheimer & Co. Inc. acquired a new stake in EQT Co. (NYSE:EQT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,673 shares of the oil and gas producer’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EQT. NEIRG Wealth Management LLC increased its position in EQT by 1.3% during the 1st quarter. NEIRG Wealth Management LLC now owns 26,537 shares of the oil and gas producer’s stock valued at $847,000 after purchasing an additional 333 shares during the period. Resonant Capital Advisors LLC increased its position in EQT by 1.1% during the 2nd quarter. Resonant Capital Advisors LLC now owns 31,405 shares of the oil and gas producer’s stock valued at $1,292,000 after purchasing an additional 345 shares during the period. Geneos Wealth Management Inc. increased its position in EQT by 15.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,605 shares of the oil and gas producer’s stock valued at $89,000 after purchasing an additional 351 shares during the period. Annandale Capital LLC increased its position in EQT by 5.7% during the 4th quarter. Annandale Capital LLC now owns 7,365 shares of the oil and gas producer’s stock valued at $249,000 after purchasing an additional 400 shares during the period. Finally, Moody National Bank Trust Division increased its position in EQT by 1.1% during the 2nd quarter. Moody National Bank Trust Division now owns 36,013 shares of the oil and gas producer’s stock valued at $1,481,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 99.44% of the company’s stock.

Insider Activity

In other news, major shareholder S Wil Vanloh, Jr. sold 20,000,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $41.40, for a total transaction of $828,000,000.00. Following the completion of the transaction, the insider now directly owns 23,946,108 shares of the company’s stock, valued at approximately $991,368,871.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EQT. Scotiabank lowered shares of EQT from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, September 13th. Bank of America upped their price objective on shares of EQT from $60.00 to $62.00 in a report on Wednesday, September 27th. Mizuho reduced their target price on EQT from $52.00 to $47.00 and set a “buy” rating for the company in a research note on Monday, September 18th. UBS Group dropped their price target on EQT from $51.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 31st. Finally, Wells Fargo & Company increased their price target on EQT from $50.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.25.

EQT Price Performance

EQT opened at $44.72 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.59 and a quick ratio of 0.59. The company has a market capitalization of $18.39 billion, a price-to-earnings ratio of 6.04, a P/E/G ratio of 0.97 and a beta of 1.14. The firm’s fifty day moving average price is $42.11 and its two-hundred day moving average price is $39.66. EQT Co. has a 1 year low of $28.10 and a 1 year high of $45.23.

EQT (NYSE:EQT) last posted its quarterly earnings data on Wednesday, October 25th. The oil and gas producer reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.42. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.15 billion. EQT had a net margin of 35.29% and a return on equity of 7.25%. The business’s revenue for the quarter was down 42.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 EPS. As a group, analysts anticipate that EQT Co. will post 2.2 earnings per share for the current fiscal year.

EQT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 8th will be given a dividend of $0.1575 per share. This is an increase from EQT’s previous quarterly dividend of $0.15. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Tuesday, November 7th. EQT’s dividend payout ratio is currently 8.11%.

EQT Profile

EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, 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 1.8 million gross acres in the Marcellus play.