DRW Securities LLC Lowers Stake in EQT Corporation $EQT

Key Points

• DRW Securities LLC reduced its stake in EQT Corporation by 37.5%, selling 18,983 shares, and now holds 31,700 shares valued at approximately $1.69 million.
• EQT reported earnings of $0.45 per share for the last quarter, missing analysts' expectations, with revenue of $1.60 billion versus the $1.78 billion forecasted.
• The company announced a quarterly dividend of $0.1575 per share, yielding 1.2%, with a payout ratio of 34.05%.

DRW Securities LLC reduced its stake in EQT Corporation (NYSE:EQT - Free Report) by 37.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,700 shares of the oil and gas producer's stock after selling 18,983 shares during the period. DRW Securities LLC's holdings in EQT were worth $1,694,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Castle Hook Partners LP lifted its position in shares of EQT by 199.5% in the 4th quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock worth $184,012,000 after purchasing an additional 2,658,375 shares during the period. Nuveen LLC purchased a new stake in shares of EQT in the 1st quarter worth approximately $120,252,000. Vanguard Group Inc. lifted its position in shares of EQT by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock worth $3,955,922,000 after purchasing an additional 1,509,054 shares during the period. Encompass Capital Advisors LLC purchased a new stake in shares of EQT in the 4th quarter worth approximately $59,627,000. Finally, Ninepoint Partners LP lifted its position in shares of EQT by 200.0% in the 1st quarter. Ninepoint Partners LP now owns 1,500,000 shares of the oil and gas producer's stock worth $80,145,000 after purchasing an additional 1,000,000 shares during the period. 90.81% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction 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 document filed with the SEC, which is accessible through this hyperlink. Also, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction on Friday, July 25th. The stock was 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 owned 13,297 shares in the company, valued at $690,646.18. The trade was a 48.33% decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EQT. Piper Sandler boosted their price objective on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Jefferies Financial Group reiterated a "buy" rating and set a $70.00 price objective (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Roth Capital lowered shares of EQT from a "strong-buy" rating to a "neutral" rating and reduced their price objective for the stock from $75.00 to $57.00 in a research note on Monday, August 18th. UBS Group boosted their price objective on shares of EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Finally, Bank of America boosted their price objective on shares of EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, August 22nd. Fifteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.14.

EQT Stock Performance

NYSE:EQT traded up $0.26 during trading hours on Thursday, hitting $51.81. 4,058,175 shares of the company were exchanged, compared to its average volume of 8,241,767. The stock has a market capitalization of $32.33 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 0.41 and a beta of 0.58. EQT Corporation has a 52-week low of $31.45 and a 52-week high of $61.02. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The company's 50 day moving average price is $53.74 and its 200-day moving average price is $53.09.

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

EQT Dividend Announcement

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

About EQT

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.