Oak Thistle LLC Cuts Stock Holdings in EQT Corporation (NYSE:EQT)

Key Points

• Oak Thistle LLC has reduced its stake in EQT Corporation by 72.4%, selling 20,393 shares and leaving it with 7,789 shares valued at approximately $416,000.
• EQT recently reported an earnings miss for the last quarter, with earnings per share of $0.45 compared to analysts' expectations of $0.52, and a revenue of $1.60 billion versus a $1.78 billion estimate.
• The company declared a quarterly dividend of $0.1575 per share, representing an annual yield of 1.21%, with a payout ratio of 34.05%.

Oak Thistle LLC reduced its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 72.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,789 shares of the oil and gas producer's stock after selling 20,393 shares during the quarter. Oak Thistle LLC's holdings in EQT were worth $416,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. grew its holdings in shares of EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock worth $44,000 after buying an additional 310 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of EQT during the 4th quarter worth about $55,000. Colonial Trust Co SC increased its position in shares of EQT by 255.5% during the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock worth $66,000 after purchasing an additional 1,022 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of EQT during the 4th quarter worth about $70,000. Finally, Capital A Wealth Management LLC purchased a new position in EQT during the 4th quarter valued at about $72,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on EQT shares. Barclays lifted their target price on EQT from $65.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded shares of EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Wells Fargo & Company lifted their price objective on shares of EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, June 16th. Piper Sandler lifted their price objective on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, TD Cowen raised EQT from a "hold" rating to a "buy" rating and set a $54.00 price target for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $60.84.

EQT Stock Performance

EQT stock traded up $1.26 on Tuesday, hitting $53.17. The company's stock had a trading volume of 2,009,636 shares, compared to its average volume of 8,480,971. The firm has a 50 day moving average of $56.31 and a two-hundred day moving average of $53.15. EQT Corporation has a 1 year low of $30.02 and a 1 year high of $61.02. The stock has a market cap of $33.18 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 0.35 and a beta of 0.65. 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 announced 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 business had revenue of $1.60 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period in the previous year, the company posted ($0.08) earnings per share. Equities analysts predict that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.18%. The ex-dividend date is Wednesday, August 6th. EQT's dividend payout ratio is presently 34.05%.

Insider Buying and Selling

In other news, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction that occurred 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. This represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.65% of the stock is currently owned by corporate insiders.

EQT 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.