EQT Co. (NYSE:EQT) dropped 8.8% during trading on Friday . The stock traded as low as $10.32 and last traded at $10.35, approximately 12,308,342 shares changed hands during trading. An increase of 169% from the average daily volume of 4,572,795 shares. The stock had previously closed at $11.35.
EQT has been the subject of several recent research reports. TD Securities decreased their price objective on EQT from $17.50 to $16.00 and set a “hold” rating for the company in a report on Friday, July 26th. Wells Fargo & Co upgraded EQT from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a report on Monday, May 20th. Macquarie initiated coverage on EQT in a report on Wednesday, May 29th. They set a “neutral” rating and a $21.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on EQT from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have given 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 target price of $31.03.
The company has a fifty day moving average of $13.90 and a 200-day moving average of $17.82. The firm has a market cap of $2.90 billion, a P/E ratio of 6.09, a P/E/G ratio of 1.21 and a beta of 0.57. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.04 and a quick ratio of 1.04.
EQT (NYSE:EQT) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.13. EQT had a positive return on equity of 4.25% and a negative net margin of 7.41%. The business had revenue of $958.40 million during the quarter, compared to the consensus estimate of $929.86 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. EQT’s revenue was down 5.8% compared to the same quarter last year. On average, sell-side analysts expect that EQT Co. will post 1.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.12 annualized dividend and a yield of 1.16%. EQT’s dividend payout ratio (DPR) is currently 7.06%.
In related news, CEO Robert Joseph Mcnally purchased 13,572 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average price of $18.37 per share, for a total transaction of $249,317.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Erin R. Centofanti sold 2,970 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $16.03, for a total value of $47,609.10. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
A number of institutional investors have recently made changes to their positions in EQT. Steward Partners Investment Advisory LLC bought a new stake in EQT during the second quarter worth $25,000. Point72 Hong Kong Ltd bought a new stake in EQT during the second quarter worth $37,000. Machina Capital S.A.S. purchased a new position in EQT in the second quarter worth $45,000. Tower Research Capital LLC TRC boosted its position in EQT by 1,246.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,905 shares of the oil and gas producer’s stock worth $62,000 after purchasing an additional 3,615 shares during the last quarter. Finally, Hilton Capital Management LLC purchased a new position in EQT in the first quarter worth $65,000. Institutional investors and hedge funds own 96.54% of the company’s stock.
About EQT (NYSE:EQT)
EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.
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