Cherry Creek Investment Advisors Inc. Grows Position in EQT Co. (NYSE:EQT)

Cherry Creek Investment Advisors Inc. boosted its holdings in EQT Co. (NYSE:EQT - Free Report) by 98.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,813 shares of the oil and gas producer's stock after acquiring an additional 15,757 shares during the quarter. Cherry Creek Investment Advisors Inc.'s holdings in EQT were worth $1,467,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in EQT. Sanctuary Advisors LLC increased its position in shares of EQT by 104.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer's stock valued at $2,327,000 after purchasing an additional 32,484 shares during the last quarter. Retirement Systems of Alabama increased its position in shares of EQT by 36.7% during the 3rd quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer's stock valued at $4,878,000 after purchasing an additional 35,733 shares during the last quarter. FMR LLC increased its position in shares of EQT by 2.5% during the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer's stock valued at $41,520,000 after purchasing an additional 28,129 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in EQT by 15.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 41,508 shares of the oil and gas producer's stock worth $1,914,000 after acquiring an additional 5,489 shares during the last quarter. Finally, Howard Financial Services LTD. bought a new position in EQT during the 4th quarter worth approximately $223,000. 90.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on EQT. UBS Group raised their price target on EQT from $40.00 to $42.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Morgan Stanley raised their price target on EQT from $45.00 to $56.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. Royal Bank of Canada restated a "sector perform" rating and set a $49.00 price target on shares of EQT in a research report on Monday, January 6th. Piper Sandler raised their price target on EQT from $32.00 to $34.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. Finally, Stephens increased their price objective on EQT from $37.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, EQT presently has an average rating of "Moderate Buy" and an average price target of $49.89.

Insiders Place Their Bets

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company's stock, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.63% of the company's stock.

EQT Stock Up 3.0 %

EQT stock traded up $1.46 on Tuesday, reaching $49.92. 9,914,954 shares of the company traded hands, compared to its average volume of 8,994,010. EQT Co. has a one year low of $30.02 and a one year high of $54.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The company has a market cap of $29.79 billion, a P/E ratio of 59.43 and a beta of 1.12. The firm has a fifty day simple moving average of $46.92 and a 200-day simple moving average of $39.47.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.06. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company's quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 EPS. Research analysts anticipate that EQT Co. will post 1.42 earnings per share for the current year.

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.