Stock Traders Buy High Volume of Put Options on EQT (NYSE:EQT)

EQT Corporation (NYSE:EQT) was the target of unusually large options trading activity on Wednesday. Investors purchased 35,365 put options on the company. This is an increase of approximately 77% compared to the typical daily volume of 19,969 put options.

EQT Trading Up 1.8%

EQT stock opened at $59.69 on Friday. EQT has a 1-year low of $43.57 and a 1-year high of $62.23. The company has a current ratio of 0.76, a quick ratio of 0.58 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $54.58 and its 200-day moving average is $54.49. The firm has a market cap of $37.25 billion, a P/E ratio of 18.03, a P/E/G ratio of 0.47 and a beta of 0.74.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, February 17th. The oil and gas producer reported $0.90 EPS for the quarter, topping the consensus estimate of $0.73 by $0.17. EQT had a return on equity of 7.25% and a net margin of 23.59%.The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the company earned $0.69 EPS. EQT’s revenue was up 24.8% on a year-over-year basis. Equities analysts anticipate that EQT will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, February 17th. EQT’s payout ratio is currently 22.60%.

Hedge Funds Weigh In On EQT

Several institutional investors have recently added to or reduced their stakes in the company. Westpac Banking Corp lifted its stake in shares of EQT by 6.6% in the third quarter. Westpac Banking Corp now owns 2,671 shares of the oil and gas producer’s stock valued at $145,000 after buying an additional 165 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of EQT by 1.0% in the 4th quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock worth $1,022,000 after acquiring an additional 198 shares during the last quarter. Rothschild Investment LLC lifted its position in EQT by 0.5% in the 4th quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock valued at $2,497,000 after acquiring an additional 215 shares in the last quarter. Fortitude Family Office LLC lifted its position in EQT by 95.6% in the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in EQT by 38.1% during the 2nd quarter. Private Trust Co. NA now owns 1,026 shares of the oil and gas producer’s stock valued at $60,000 after purchasing an additional 283 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Zacks Research downgraded shares of EQT from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Sanford C. Bernstein increased their target price on shares of EQT from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Scotiabank decreased their target price on EQT from $67.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 21st. Roth Mkm restated a “neutral” rating on shares of EQT in a research note on Wednesday. Finally, Wall Street Zen upgraded EQT from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Nineteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.41.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.