Synovus Financial Corp Purchases Shares of 29,173 EQT Co. (NYSE:EQT)

Synovus Financial Corp purchased a new stake in shares of EQT Co. (NYSE:EQT - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 29,173 shares of the oil and gas producer's stock, valued at approximately $1,069,000.

Other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC raised its position in EQT by 55.8% in the third quarter. Tidal Investments LLC now owns 60,816 shares of the oil and gas producer's stock valued at $2,228,000 after purchasing an additional 21,789 shares during the last quarter. Blankinship & Foster LLC acquired a new stake in EQT during the 3rd quarter worth approximately $4,051,000. Wilmington Savings Fund Society FSB acquired a new position in EQT in the 3rd quarter valued at approximately $165,000. Sanctuary Advisors LLC raised its stake in shares of EQT by 104.7% during the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer's stock valued at $2,327,000 after acquiring an additional 32,484 shares during the last quarter. Finally, Bard Financial Services Inc. bought a new stake in shares of EQT in the 3rd quarter valued at about $878,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the 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 transaction, the director now owns 201,608 shares of the company's stock, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is currently owned by insiders.

EQT Price Performance

NYSE:EQT traded down $0.62 during trading hours on Tuesday, hitting $44.20. 7,056,056 shares of the company's stock traded hands, compared to its average volume of 7,154,053. EQT Co. has a 52 week low of $30.02 and a 52 week high of $48.02. The business's fifty day simple moving average is $41.15 and its two-hundred day simple moving average is $37.44. 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 firm has a market cap of $26.37 billion, a P/E ratio of 53.36 and a beta of 1.14.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion during 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 revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the company posted $0.30 EPS. On average, research analysts anticipate that EQT Co. will post 1.37 earnings per share for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Wednesday, November 6th. EQT's dividend payout ratio (DPR) is currently 75.00%.

Analysts Set New Price Targets

Several brokerages recently commented on EQT. JPMorgan Chase & Co. upped their target price on EQT from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Thursday, September 26th. Piper Sandler upped their price objective on shares of EQT from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Bank of America assumed coverage on shares of EQT in a research report on Monday, October 28th. They set a "buy" rating and a $50.00 price objective on the stock. Truist Financial boosted their target price on EQT from $32.00 to $41.00 and gave the company a "hold" rating in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $49.00 price objective on shares of EQT in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $46.61.

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.