D L Carlson Investment Group Inc. Cuts Stake in EQT Corporation $EQT

Key Points

• D L Carlson Investment Group Inc. reduced its stake in EQT Corporation by 51.8%, holding 44,788 shares worth $2,393,000 after selling 48,108 shares in the first quarter.
• Several institutional investors, including IHT Wealth Management and Coldstream Capital Management, have added or adjusted their stakes in EQT, which has a total institutional ownership of 90.81%.
• Analysts have a consensus rating of "Moderate Buy" for EQT stock, with price targets ranging from $64.00 to $80.00, indicating optimistic forecasts for its future performance.

D L Carlson Investment Group Inc. decreased its stake in EQT Corporation (NYSE:EQT - Free Report) by 51.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,788 shares of the oil and gas producer's stock after selling 48,108 shares during the quarter. D L Carlson Investment Group Inc.'s holdings in EQT were worth $2,393,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in 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 worth $3,955,922,000 after acquiring an additional 1,509,054 shares during the last quarter. Northern Trust Corp boosted its position in EQT by 2.0% during the first quarter. Northern Trust Corp now owns 5,692,985 shares of the oil and gas producer's stock worth $304,176,000 after acquiring an additional 113,716 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in EQT by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,204,106 shares of the oil and gas producer's stock worth $278,055,000 after acquiring an additional 110,249 shares during the last quarter. Neuberger Berman Group LLC boosted its position in EQT by 10.3% during the first quarter. Neuberger Berman Group LLC now owns 5,191,780 shares of the oil and gas producer's stock worth $277,397,000 after acquiring an additional 484,671 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position 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 acquiring an additional 311,154 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EQT shares. Piper Sandler boosted their price target on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Barclays boosted their price target on shares of EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Roth Capital downgraded shares of EQT from a "strong-buy" rating to a "neutral" rating and reduced their target price for the stock from $75.00 to $57.00 in a research note on Monday, August 18th. Melius Research initiated coverage on shares of EQT in a research note on Wednesday, August 20th. They set a "buy" rating and a $64.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price 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. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.14.

Insider Buying and Selling

In other news, Director Vicky A. Bailey sold 4,259 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the sale, the executive vice president directly owned 13,297 shares in the company, valued at $690,646.18. This trade 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 insiders.

EQT Trading Down 0.9%

EQT stock traded down $0.47 during trading on Friday, reaching $51.90. 6,310,318 shares of the stock were exchanged, compared to its average volume of 6,570,194. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $54.19 and a 200-day moving average price of $53.11. EQT Corporation has a 1 year low of $31.45 and a 1 year high of $61.02. The firm has a market capitalization of $32.39 billion, a price-to-earnings ratio of 28.05, a P/E/G ratio of 0.40 and a beta of 0.59.

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

EQT Dividend Announcement

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

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.