Palo Duro Investment Partners LP Lowers Holdings in EQT Co. (NYSE:EQT)

Palo Duro Investment Partners LP reduced its stake in shares of EQT Co. (NYSE:EQT - Free Report) by 21.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,698,038 shares of the oil and gas producer's stock after selling 467,129 shares during the period. EQT makes up approximately 22.9% of Palo Duro Investment Partners LP's portfolio, making the stock its 2nd biggest holding. Palo Duro Investment Partners LP owned 0.28% of EQT worth $78,297,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in EQT by 26.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in EQT by 22.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock worth $48,000 after purchasing an additional 193 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in EQT in the 4th quarter worth approximately $55,000. First Horizon Advisors Inc. lifted its stake in EQT by 33.1% in the 4th quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer's stock worth $55,000 after purchasing an additional 298 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in EQT by 1,343.8% in the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer's stock worth $64,000 after purchasing an additional 1,290 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EQT has been the subject of a number of recent analyst reports. TD Cowen upgraded shares of 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. Citigroup raised their price target on shares of EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, March 17th. Piper Sandler raised their price target on shares of EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday. Stephens cut their target price on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Scotiabank lowered EQT from a "sector outperform" rating to a "sector perform" rating and cut their target price for the company from $55.00 to $54.00 in a research report on Friday, January 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, EQT currently has a consensus rating of "Moderate Buy" and an average target price of $56.67.

EQT Stock Performance

Shares of EQT stock traded down $0.17 on Friday, reaching $55.83. The stock had a trading volume of 4,374,261 shares, compared to its average volume of 7,939,658. The business's 50-day moving average price is $51.59 and its two-hundred day moving average price is $48.74. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $57.04. The stock has a market cap of $33.42 billion, a P/E ratio of 139.58, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The business had revenue of $2.15 billion during the quarter, compared to analysts' expectations of $2.16 billion. On average, sell-side analysts forecast that EQT Co. will post 3.27 EPS for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.13%. The ex-dividend date is Wednesday, May 7th. EQT's payout ratio is currently 110.53%.

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.