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

Key Points

• Put-option trading surged: Investors purchased 29,416 EQT put options, roughly 96% above the stock’s average put volume.
• EQT shares rose modestly to $54.16, while the company’s latest quarterly results missed analyst expectations and revenue declined 29.2% year over year.
• Analyst sentiment remains moderately bullish: EQT has a consensus “Moderate Buy” rating and an average price target of $68.08, despite several recent target-price cuts and one downgrade to “Strong Sell.”

EQT Corporation (NYSE:EQT - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 29,416 put options on the stock. This represents an increase of 96% compared to the average volume of 15,037 put options.

Insider Transactions at EQT

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of the firm's stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $53.46, for a total value of $92,539.26. Following the sale, the chief executive officer directly owned 2,333,193 shares of the company's stock, valued at approximately $124,732,497.78. This trade represents a 0.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On EQT

Several large investors have recently modified their holdings of the stock. Greykasell Wealth Strategies Inc. acquired a new position in EQT in the fourth quarter worth about $26,000. Meeder Asset Management Inc. bought a new position in EQT during the 2nd quarter worth approximately $26,000. Gables Capital Management Inc. bought a new position in EQT during the 2nd quarter worth approximately $37,000. Elyxium Wealth LLC acquired a new position in shares of EQT in the 4th quarter worth approximately $49,000. Finally, Root Financial Partners LLC grew its position in shares of EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock worth $49,000 after acquiring an additional 202 shares in the last quarter. Institutional investors own 90.81% of the company's stock.

EQT Stock Up 0.2%

Shares of EQT stock traded up $0.08 during mid-day trading on Tuesday, reaching $54.16. 1,776,765 shares of the company were exchanged, compared to its average volume of 8,524,252. EQT has a fifty-two week low of $47.94 and a fifty-two week high of $68.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $33.88 billion, a P/E ratio of 12.57 and a beta of 0.58. The business's 50 day simple moving average is $51.89 and its 200 day simple moving average is $56.57.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company earned $0.45 earnings per share. The company's revenue was down 29.2% on a year-over-year basis. Research analysts predict that EQT will post 4.06 earnings per share for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be given a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. EQT's payout ratio is presently 15.31%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EQT shares. Zacks Research downgraded EQT from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. The Goldman Sachs Group reduced their price objective on EQT from $65.00 to $63.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. UBS Group decreased their target price on EQT from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Wednesday, July 8th. Sanford C. Bernstein reiterated an "outperform" rating on shares of EQT in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. dropped their target price on EQT from $72.00 to $68.00 and set an "overweight" rating on the stock in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, EQT has an average rating of "Moderate Buy" and a consensus target price of $68.08.

EQT Company Profile

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.

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