Dark Forest Capital Management LP Has $738,000 Stock Position in EQT Co. (NYSE:EQT)

Dark Forest Capital Management LP increased its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 171.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,000 shares of the oil and gas producer's stock after purchasing an additional 10,103 shares during the period. Dark Forest Capital Management LP's holdings in EQT were worth $738,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Retirement Systems of Alabama lifted its holdings in shares of EQT by 36.7% during the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer's stock worth $4,878,000 after buying an additional 35,733 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in EQT by 44.2% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer's stock valued at $2,379,000 after purchasing an additional 16,416 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in EQT by 13.4% in the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer's stock valued at $298,000 after purchasing an additional 762 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in EQT by 15.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer's stock worth $1,914,000 after purchasing an additional 5,489 shares during the last quarter. Finally, Howard Financial Services LTD. acquired a new stake in EQT during the fourth quarter worth about $223,000. Institutional investors own 90.81% of the company's stock.

EQT Price Performance

Shares of NYSE:EQT traded down $1.75 during midday trading on Wednesday, reaching $49.47. The company's stock had a trading volume of 1,830,410 shares, compared to its average volume of 7,786,860. The business's fifty day simple moving average is $50.21 and its 200-day simple moving average is $47.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The company has a market capitalization of $29.61 billion, a P/E ratio of 123.85, a P/E/G ratio of 0.64 and a beta of 1.35.

EQT (NYSE:EQT - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, equities research analysts expect that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.27%. EQT's payout ratio is presently 110.53%.

Analyst Ratings Changes

A number of analysts have commented on EQT shares. Wells Fargo & Company raised their price objective on EQT from $53.00 to $58.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 19th. StockNews.com cut EQT from a "hold" rating to a "sell" rating in a research report on Monday, April 7th. Sanford C. Bernstein raised shares of EQT from a "market perform" rating to an "outperform" rating and set a $73.00 price target on the stock in a report on Wednesday, January 15th. Piper Sandler reduced their price objective on shares of EQT from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group lowered their target price on shares of EQT from $55.00 to $54.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.39.

EQT Profile

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.