Old West Investment Management LLC Acquires Shares of 297,454 EQT Corporation $EQT

Old West Investment Management LLC purchased a new stake in shares of EQT Corporation (NYSE:EQT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 297,454 shares of the oil and gas producer's stock, valued at approximately $15,816,000. EQT accounts for approximately 1.7% of Old West Investment Management LLC's holdings, making the stock its 21st largest holding.

Several other large investors have also added to or reduced their stakes in the stock. Greykasell Wealth Strategies Inc. bought a new stake in shares of EQT during the fourth quarter valued at approximately $26,000. Elyxium Wealth LLC bought a new position in EQT during the fourth quarter valued at approximately $49,000. Root Financial Partners LLC boosted its stake in shares of EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock worth $49,000 after buying an additional 202 shares during the last quarter. State of Wyoming purchased a new position in EQT in the second quarter worth about $58,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of EQT in the third quarter worth approximately $114,000. Institutional investors own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EQT shares. BMO Capital Markets lowered their target price on EQT from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. Truist Financial cut their price objective on shares of EQT from $74.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. Sanford C. Bernstein reissued an "outperform" rating on shares of EQT in a report on Thursday, July 30th. Capital One Financial raised their target price on shares of EQT from $64.00 to $68.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Finally, Zacks Research downgraded shares of EQT from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, EQT has a consensus rating of "Moderate Buy" and a consensus price target of $68.08.

Insider Activity

In other news, CEO Toby Z. Rice sold 1,731 shares of EQT stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $53.46, for a total value of $92,539.26. Following the completion of the transaction, the chief executive officer owned 2,333,193 shares in the company, valued at approximately $124,732,497.78. The trade was a 0.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by insiders.

EQT Stock Performance

Shares of NYSE:EQT opened at $54.44 on Monday. The firm has a fifty day simple moving average of $51.87 and a two-hundred day simple moving average of $56.54. EQT Corporation has a 52 week low of $47.94 and a 52 week high of $68.24. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $34.05 billion, a P/E ratio of 12.63 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last announced its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The firm's quarterly revenue was down 29.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, analysts expect that EQT Corporation will post 4.06 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT's dividend payout ratio (DPR) is presently 15.31%.

About EQT

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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