EQT Co. (NYSE:EQT) Stock Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of EQT Co. (NYSE:EQT - Free Report) by 34.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,997,574 shares of the oil and gas producer's stock after buying an additional 3,582,418 shares during the period. Geode Capital Management LLC owned about 2.35% of EQT worth $511,159,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. HM Payson & Co. bought a new position in EQT during the third quarter worth $25,000. Innealta Capital LLC acquired a new position in shares of EQT in the 2nd quarter valued at about $28,000. Truvestments Capital LLC acquired a new position in shares of EQT in the 3rd quarter valued at about $30,000. Hexagon Capital Partners LLC raised its stake in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 904 shares during the period. Finally, Quarry LP lifted its holdings in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 578 shares during the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

Insider Activity

In related news, Director Thomas F. Karam sold 30,154 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, 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 SEC, which is accessible through this hyperlink. 0.63% of the stock is currently owned by company insiders.

EQT Price Performance

EQT stock traded down $0.27 during midday trading on Friday, hitting $45.60. The company's stock had a trading volume of 8,514,648 shares, compared to its average volume of 7,159,665. EQT Co. has a 12 month low of $30.02 and a 12 month high of $48.02. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $27.21 billion, a PE ratio of 54.46 and a beta of 1.14. The stock's 50-day moving average price is $40.82 and its 200-day moving average price is $37.42.

EQT (NYSE:EQT - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. Analysts anticipate that EQT Co. will post 1.37 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Wednesday, November 6th. EQT's dividend payout ratio (DPR) is presently 75.00%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. BMO Capital Markets increased their price target on EQT from $39.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, October 4th. JPMorgan Chase & Co. increased their target price on EQT from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Thursday, September 26th. Mizuho boosted their price target on shares of EQT from $45.00 to $48.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Stephens increased their price objective on shares of EQT from $37.00 to $38.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Finally, Piper Sandler boosted their target price on shares of EQT from $32.00 to $34.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, EQT presently has a consensus rating of "Hold" and a consensus target price of $46.11.

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.