Charles Schwab Investment Management Inc. Purchases 110,249 Shares of EQT Corporation (NYSE:EQT)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in EQT Corporation by 2.2%, owning approximately 5.2 million shares valued at $278 million.
• The company reported earnings per share of $0.45 for the last quarter, missing estimates by $0.07, with total revenue of $1.60 billion against expectations of $1.78 billion.
• Analysts have a consensus rating of "Moderate Buy" for EQT, with an average price target of $60.84, while several firms have recently raised their target prices for the stock.

Charles Schwab Investment Management Inc. increased its holdings in EQT Corporation (NYSE:EQT - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,204,106 shares of the oil and gas producer's stock after acquiring an additional 110,249 shares during the period. Charles Schwab Investment Management Inc. owned about 0.87% of EQT worth $278,055,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EQT. Vanguard Group Inc. increased its position in shares of EQT by 2.1% during the first quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock valued at $3,955,922,000 after acquiring an additional 1,509,054 shares in the last quarter. Capital International Investors raised its holdings in shares of EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock worth $638,867,000 after purchasing an additional 2,433,632 shares during the last quarter. Northern Trust Corp grew its position in shares of EQT by 18.0% in the fourth quarter. Northern Trust Corp now owns 5,579,269 shares of the oil and gas producer's stock valued at $257,260,000 after purchasing an additional 851,087 shares during the period. Allspring Global Investments Holdings LLC raised its stake in EQT by 7.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,658,814 shares of the oil and gas producer's stock worth $251,017,000 after purchasing an additional 311,154 shares during the period. Finally, Sourcerock Group LLC increased its stake in EQT by 9.4% during the 4th quarter. Sourcerock Group LLC now owns 4,628,798 shares of the oil and gas producer's stock worth $213,434,000 after buying an additional 399,073 shares during the period. Institutional investors own 90.81% of the company's stock.

Wall Street Analysts Forecast Growth

EQT has been the subject of a number of research reports. Roth Capital began coverage on shares of EQT in a research report on Tuesday, June 24th. They set a "buy" rating and a $69.00 price target for the company. Royal Bank Of Canada upped their price target on shares of EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Wells Fargo & Company increased their price objective on shares of EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a report on Monday, June 16th. Piper Sandler raised their target price on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, UBS Group reaffirmed a "buy" rating on shares of EQT in a research report on Monday, July 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.84.

EQT Price Performance

Shares of EQT stock traded up $0.60 during trading hours on Monday, hitting $51.89. 5,263,101 shares of the company's stock were exchanged, compared to its average volume of 8,405,664. The company has a market capitalization of $32.38 billion, a PE ratio of 28.05, a PEG ratio of 0.36 and a beta of 0.59. The business's 50 day simple moving average is $55.60 and its 200-day simple moving average is $53.11. EQT Corporation has a 12-month low of $30.88 and a 12-month high of $61.02. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. On average, equities research analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be paid a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.2%. EQT's dividend payout ratio is presently 34.05%.

Insider Activity

In other news, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $51.94, for a total value of $646,029.72. Following the sale, the executive vice president owned 13,297 shares of the company's stock, valued at $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

EQT Company 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.