SIR Capital Management L.P. Sells 718,500 Shares of EQT Co. (NYSE:EQT)

SIR Capital Management L.P. cut its stake in EQT Co. (NYSE:EQT - Free Report) by 62.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 428,338 shares of the oil and gas producer's stock after selling 718,500 shares during the period. EQT makes up approximately 2.1% of SIR Capital Management L.P.'s holdings, making the stock its 14th largest holding. SIR Capital Management L.P. owned about 0.07% of EQT worth $19,751,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in shares of EQT by 26.6% during 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 increased its stake in shares of EQT by 22.7% during 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 stake in EQT in the 4th quarter worth approximately $55,000. First Horizon Advisors Inc. grew 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 acquiring an additional 298 shares during the period. Finally, Larson Financial Group LLC grew 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 acquiring an additional 1,290 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on EQT shares. Mizuho lifted their target price on shares of EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 1st. The Goldman Sachs Group reiterated a "reduce" rating on shares of EQT in a report on Wednesday, February 12th. Piper Sandler lifted their price target on shares of EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. StockNews.com lowered shares of EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Finally, Wells Fargo & Company lifted their price target on shares of EQT from $53.00 to $58.00 and gave the company an "overweight" rating in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $56.67.

EQT Trading Down 0.6%

Shares of NYSE:EQT traded down $0.36 during mid-day trading on Monday, hitting $55.50. The stock had a trading volume of 6,377,397 shares, compared to its average volume of 7,944,366. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market cap of $33.22 billion, a PE ratio of 138.75, a P/E/G ratio of 0.64 and a beta of 0.59. EQT Co. has a 12-month low of $30.02 and a 12-month high of $57.04. The company's 50 day moving average is $51.59 and its 200-day moving average is $48.90.

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

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.14%. EQT's dividend payout ratio is presently 110.53%.

EQT Company 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.