EQT Target of Unusually High Options Trading (NYSE:EQT)

EQT Corporation (NYSE:EQT) saw unusually large options trading activity on Friday. Stock investors purchased 23,367 put options on the stock. This represents an increase of 36% compared to the typical volume of 17,167 put options.

EQT Price Performance

Shares of NYSE EQT opened at $60.49 on Friday. The stock has a market capitalization of $36.21 billion, a price-to-earnings ratio of 106.12, a PEG ratio of 0.37 and a beta of 0.65. EQT has a 12 month low of $30.02 and a 12 month high of $60.80. The firm’s 50 day simple moving average is $54.15 and its 200-day simple moving average is $51.09. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.57.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion for the quarter, compared to analysts’ expectations of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. Analysts expect that EQT will post 3.27 EPS for the current year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT’s payout ratio is 110.53%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EQT shares. Mizuho lifted their target price on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Stephens reduced their price target on shares of EQT from $59.00 to $57.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Scotiabank reiterated a “sector perform” rating and issued a $62.00 price target (up from $57.00) on shares of EQT in a research note on Thursday, May 22nd. Wells Fargo & Company lifted their price target on shares of EQT from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Monday, June 16th. Finally, Piper Sandler boosted their target price on shares of EQT from $35.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, EQT currently has an average rating of “Moderate Buy” and an average price target of $57.39.

Hedge Funds Weigh In On EQT

Several institutional investors have recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new position in EQT in the first quarter valued at approximately $35,000. Harbour Investments Inc. lifted its holdings in shares of EQT by 48.4% during the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. lifted its holdings in shares of EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock worth $44,000 after purchasing an additional 310 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of EQT by 26.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 205 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 193 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

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.