EQT Corporation $EQT Stock Sold by Vantage Investment Partners LLC

Key Points

• Vantage Investment Partners reduced its EQT stake by 4.3% in the third quarter, selling 38,959 shares and retaining 873,269 shares valued at approximately $42.4 million. Institutional investors collectively own 90.81% of EQT.
• EQT’s third-quarter earnings of $0.42 per share beat estimates, while revenue of $1.77 billion slightly exceeded forecasts; however, revenue declined 9.6% year over year and earnings fell from $0.52 in the prior-year quarter.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and a $67.78 price target. Investors are also watching EQT’s proposed all-stock acquisition of Range Resources, which could create a gas producer valued above $50 billion but carries execution risks, including a potential $1.148 billion termination fee.

Vantage Investment Partners LLC lessened its holdings in EQT Corporation (NYSE:EQT - Free Report) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 873,269 shares of the oil and gas producer's stock after selling 38,959 shares during the period. EQT makes up approximately 2.6% of Vantage Investment Partners LLC's portfolio, making the stock its 15th biggest holding. Vantage Investment Partners LLC's holdings in EQT were worth $42,406,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of EQT during the second quarter valued at approximately $26,000. Community Bank N.A. lifted its holdings in EQT by 198.9% during the second quarter. Community Bank N.A. now owns 523 shares of the oil and gas producer's stock worth $28,000 after acquiring an additional 348 shares during the period. Anchor Investment Management LLC boosted its position in EQT by 76.0% in the second quarter. Anchor Investment Management LLC now owns 528 shares of the oil and gas producer's stock worth $28,000 after purchasing an additional 228 shares during the last quarter. Wedbush Fund Advisers LLC boosted its position in EQT by 251.8% in the second quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer's stock worth $31,000 after purchasing an additional 413 shares during the last quarter. Finally, Continuum Advisory LLC purchased a new position in EQT in the second quarter worth $32,000. 90.81% of the stock is owned by institutional investors.

Insider Activity at EQT

In other news, CEO Toby Rice sold 175,328 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by corporate insiders.

EQT News Summary

Here are the key news stories impacting EQT this week:

• Positive Sentiment: EQT’s proposed all-stock acquisition of Range Resources would create a natural-gas producer valued at more than $50 billion. Management expects greater scale, cost savings and stronger free cash flow, potentially improving EQT’s competitive position in the U.S. gas market. EQT to Acquire Range Resources, Create a Leading Natural Gas Company
• Positive Sentiment: Third-quarter adjusted earnings of $0.42 per share exceeded analyst expectations of approximately $0.37-$0.38, helped by lower operating costs and capital discipline. Revenue of $1.77 billion also slightly surpassed estimates of $1.76 billion. EQT Q3 Earnings Beat Estimates on Lower Operating Costs, Revenues Miss
• Positive Sentiment: Freedom Broker maintained a “buy” rating while lowering its price target from $81 to $77, implying substantial potential upside from recent trading levels. Freedom Broker price target
• Neutral Sentiment: Wells Fargo reduced its target from $79 to $71 but retained an “overweight” rating, indicating continued confidence despite more cautious valuation assumptions. Wells Fargo price target
• Negative Sentiment: Quarterly revenue declined 9.6% year over year, earnings fell from $0.52 per share in the prior-year period, and lower gas volumes and cash flow remain concerns. The Range transaction also includes a potentially significant $1.148 billion reverse termination fee, adding execution and financial risk. EQT Range Resources termination fee
• Negative Sentiment: Scotiabank lowered its target from $54 to $53 and kept a “sector perform” rating, reflecting limited near-term upside in its view. Scotiabank price target

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley decreased their target price on EQT from $68.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, August 19th. Barclays lowered their target price on EQT from $70.00 to $68.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Citigroup boosted their price target on shares of EQT from $67.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, September 23rd. Stifel Nicolaus assumed coverage on shares of EQT in a research report on Wednesday, September 9th. They set a "buy" rating and a $66.00 price target for the company. Finally, Freedom Broker decreased their price objective on shares of EQT from $81.00 to $77.00 and set a "buy" rating for the company in a report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $67.78.

EQT Trading Up 0.0%

NYSE:EQT opened at $56.27 on Thursday. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The firm's 50 day moving average is $53.16 and its 200 day moving average is $55.46. The stock has a market capitalization of $35.20 billion, a PE ratio of 13.06 and a beta of 0.66.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The oil and gas producer reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. EQT had a return on equity of 9.31% and a net margin of 28.44%. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the company earned $0.52 earnings per share. EQT's revenue was down 9.6% compared to the same quarter last year. Sell-side analysts expect that EQT Corporation will post 3.91 earnings per share for the current year.

EQT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Wednesday, November 4th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, November 4th. This is a boost from EQT's previous quarterly dividend of $0.1650. This represents a $0.68 annualized dividend and a dividend yield of 1.2%. EQT's dividend payout ratio is presently 15.78%.

EQT Company Profile

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company develops and operates unconventional oil and gas properties, with a primary focus on natural gas and natural gas liquids produced from shale formations.

EQT's operations are concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations in Pennsylvania, West Virginia and Ohio. Its activities include drilling, completion, production and management of natural gas wells, along with related gathering and infrastructure operations that support the transportation of its products to market.

The company traces its roots to Equitable Gas, founded in 1878, and has evolved through multiple stages of expansion and restructuring in the U.S.

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