EQT Co. (NYSE:EQT) Sees Significant Drop in Short Interest

EQT Co. (NYSE:EQT - Get Free Report) was the target of a significant drop in short interest in November. As of November 30th, there was short interest totalling 20,690,000 shares, a drop of 8.2% from the November 15th total of 22,540,000 shares. Based on an average daily trading volume, of 7,310,000 shares, the days-to-cover ratio is presently 2.8 days.

Insider Activity

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares of the company's stock, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.63% of the company's stock.

Institutional Trading of EQT

A number of large investors have recently added to or reduced their stakes in EQT. HM Payson & Co. purchased a new stake in shares of EQT in the 3rd quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in shares of EQT in the second quarter worth $28,000. Truvestments Capital LLC purchased a new position in shares of EQT during the third quarter valued at $30,000. Hexagon Capital Partners LLC raised its position 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 valued at $33,000 after buying an additional 904 shares during the period. Finally, Quarry LP lifted its stake in EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer's stock worth $33,000 after acquiring an additional 578 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors.

EQT Price Performance

Shares of EQT stock traded down $0.77 during midday trading on Monday, reaching $44.83. 5,326,484 shares of the company were exchanged, compared to its average volume of 7,154,456. The company's 50 day moving average price is $41.15 and its two-hundred day moving average price is $37.44. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $26.75 billion, a P/E ratio of 53.36 and a beta of 1.14. EQT has a 12 month low of $30.02 and a 12 month high of $48.02.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.28 billion for the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.30 EPS. On average, sell-side analysts expect that EQT will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Wednesday, November 6th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.41%. EQT's payout ratio is currently 75.00%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EQT shares. Citigroup upped their target price on shares of EQT from $44.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Piper Sandler increased their target price on EQT from $32.00 to $34.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. UBS Group boosted their price target on EQT from $40.00 to $42.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Royal Bank of Canada restated a "sector perform" rating and set a $49.00 price objective on shares of EQT in a research note on Tuesday, December 3rd. Finally, Bank of America started coverage on shares of EQT in a report on Monday, October 28th. They set a "buy" rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, EQT presently has a consensus rating of "Moderate Buy" and an average target price of $46.61.

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.