EQT Target of Unusually Large Options Trading (EQT)

EQT Co. (NYSE:EQT) was the target of unusually large options trading on Wednesday. Stock investors purchased 4,435 put options on the stock. This is an increase of 906% compared to the typical daily volume of 441 put options.

NYSE:EQT opened at $34.88 on Friday. EQT has a fifty-two week low of $30.53 and a fifty-two week high of $66.03. The firm has a market cap of $8.36 billion, a P/E ratio of 23.73, a P/E/G ratio of 0.92 and a beta of 0.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.47 and a current ratio of 0.47.

EQT (NYSE:EQT) last released its earnings results on Thursday, October 25th. The oil and gas producer reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. EQT had a positive return on equity of 3.77% and a negative net margin of 6.86%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.12 earnings per share. Sell-side analysts forecast that EQT will post 2.38 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Friday, November 9th will be paid a $0.03 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. EQT’s payout ratio is 8.16%.

Several analysts recently weighed in on the company. BMO Capital Markets lowered EQT from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $55.00 to $40.00 in a report on Friday, October 26th. Wells Fargo & Co restated a “market weight” rating and set a $63.00 price target on shares of EQT in a report on Wednesday, October 24th. Jefferies Financial Group set a $39.00 price target on EQT and gave the company a “hold” rating in a report on Sunday, October 28th. Royal Bank of Canada set a $74.00 price target on EQT and gave the company a “buy” rating in a report on Thursday, July 19th. Finally, Credit Suisse Group set a $48.00 price target on EQT and gave the company a “buy” rating in a report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $57.77.

In other news, insider Robert Joseph Mcnally acquired 15,800 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The shares were acquired at an average cost of $34.16 per share, with a total value of $539,728.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth Michael Burke purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The shares were bought at an average price of $50.20 per share, for a total transaction of $251,000.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $251,000. The disclosure for this purchase can be found here. Insiders have bought a total of 21,280 shares of company stock worth $811,958 over the last ninety days. Insiders own 0.68% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in EQT. Iridian Asset Management LLC CT purchased a new stake in EQT in the second quarter worth $195,704,000. Sound Shore Management Inc. CT purchased a new stake in EQT in the second quarter worth $177,755,000. Scopia Capital Management LP purchased a new stake in EQT in the second quarter worth $102,772,000. Nomura Holdings Inc. increased its stake in EQT by 182,853.9% in the second quarter. Nomura Holdings Inc. now owns 1,535,133 shares of the oil and gas producer’s stock worth $84,708,000 after purchasing an additional 1,535,973 shares during the period. Finally, Boston Partners increased its stake in EQT by 6.8% in the second quarter. Boston Partners now owns 12,929,303 shares of the oil and gas producer’s stock worth $713,439,000 after purchasing an additional 825,730 shares during the period. Institutional investors and hedge funds own 91.66% of the company’s stock.

About EQT

EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.

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