Investors Buy Shares of EQT (EQT) on Weakness

Traders bought shares of EQT Corporation (NYSE:EQT) on weakness during trading on Monday. $50.88 million flowed into the stock on the tick-up and $23.22 million flowed out of the stock on the tick-down, for a money net flow of $27.66 million into the stock. Of all companies tracked, EQT had the 32nd highest net in-flow for the day. EQT traded down ($0.24) for the day and closed at $58.46

Several equities analysts have recently commented on EQT shares. Jefferies Group restated a “hold” rating and set a $66.00 price target on shares of EQT in a report on Tuesday, October 10th. ValuEngine cut shares of EQT from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. JPMorgan Chase & Co. boosted their price target on shares of EQT from $75.00 to $81.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. BMO Capital Markets restated a “buy” rating and set a $75.00 price target on shares of EQT in a report on Tuesday, November 14th. Finally, Royal Bank of Canada set a $79.00 price target on shares of EQT and gave the company a “hold” rating in a report on Saturday, October 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $76.75.

The firm has a market capitalization of $15,530.00, a price-to-earnings ratio of 292.30, a PEG ratio of 2.58 and a beta of 0.76. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.29.

EQT (NYSE:EQT) last issued its quarterly earnings data on Thursday, October 26th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.17. The firm had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $667.05 million. EQT had a net margin of 1.39% and a return on equity of 1.61%. EQT’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.26) earnings per share. equities analysts anticipate that EQT Corporation will post 0.86 earnings per share for the current fiscal year.

In other EQT news, Director Thomas F. Karam acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average cost of $59.26 per share, for a total transaction of $592,600.00. Following the completion of the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,185,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David L. Porges sold 53,760 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $59.14, for a total transaction of $3,179,366.40. Following the completion of the sale, the chairman now owns 438,601 shares of the company’s stock, valued at $25,938,863.14. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

A number of large investors have recently modified their holdings of EQT. Amalgamated Bank boosted its holdings in EQT by 68.8% in the second quarter. Amalgamated Bank now owns 18,031 shares of the oil and gas producer’s stock worth $1,056,000 after purchasing an additional 7,346 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in EQT by 8.9% in the second quarter. UBS Asset Management Americas Inc. now owns 474,265 shares of the oil and gas producer’s stock worth $27,787,000 after purchasing an additional 38,836 shares in the last quarter. Pinebridge Investments L.P. bought a new stake in EQT in the second quarter worth $212,000. D.A. Davidson & CO. lifted its position in EQT by 14.2% during the 2nd quarter. D.A. Davidson & CO. now owns 5,801 shares of the oil and gas producer’s stock worth $339,000 after acquiring an additional 721 shares during the last quarter. Finally, Aureus Asset Management LLC acquired a new position in EQT during the 2nd quarter worth $205,000.

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EQT Company Profile

EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.

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