EQT Co. (NYSE:EQT) Shares Purchased by Third Point LLC

Third Point LLC boosted its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 51.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,950,000 shares of the oil and gas producer's stock after buying an additional 1,000,000 shares during the period. EQT makes up 1.8% of Third Point LLC's holdings, making the stock its 24th largest position. Third Point LLC owned approximately 0.49% of EQT worth $136,024,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Freestone Grove Partners LP acquired a new position in EQT during the 4th quarter valued at approximately $23,851,000. Comerica Bank lifted its position in EQT by 3.9% during the 4th quarter. Comerica Bank now owns 112,843 shares of the oil and gas producer's stock worth $5,203,000 after acquiring an additional 4,195 shares during the period. Gallo Partners LP acquired a new position in shares of EQT in the fourth quarter valued at about $1,181,000. Voleon Capital Management LP acquired a new stake in shares of EQT during the fourth quarter worth about $1,976,000. Finally, Utah Retirement Systems lifted its holdings in shares of EQT by 0.5% during the fourth quarter. Utah Retirement Systems now owns 80,754 shares of the oil and gas producer's stock worth $3,724,000 after purchasing an additional 400 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Price Performance

Shares of NYSE:EQT traded up $1.44 during midday trading on Friday, hitting $51.80. The company's stock had a trading volume of 6,651,883 shares, compared to its average volume of 7,838,076. EQT Co. has a 12-month low of $30.02 and a 12-month high of $56.66. The company has a market cap of $31.01 billion, a P/E ratio of 129.50, a price-to-earnings-growth ratio of 0.64 and a beta of 1.35. 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 business's 50 day simple moving average is $50.27 and its 200 day simple moving average is $47.57.

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

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.22%. EQT's dividend payout ratio is presently 110.53%.

Analysts Set New Price Targets

Several analysts have commented on EQT shares. The Goldman Sachs Group restated a "reduce" rating on shares of EQT in a research note on Wednesday, February 12th. Piper Sandler decreased their price objective on EQT from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. TD Cowen raised EQT from a "hold" rating to a "buy" rating and set a $54.00 target price on the stock in a report on Tuesday, April 8th. Mizuho boosted their price target on EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $49.00 price objective on shares of EQT in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $55.39.

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.