Adalta Capital Management LLC Acquires Shares of 3,000 EQT Co. (NYSE:EQT)

Adalta Capital Management LLC bought a new position in shares of EQT Co. (NYSE:EQT) during the 3rd quarter, Holdings Channel.com reports. The fund bought 3,000 shares of the oil and gas producer’s stock, valued at approximately $110,000.

A number of other large investors have also modified their holdings of the business. HM Payson & Co. acquired a new position in EQT during the third quarter worth $25,000. Innealta Capital LLC purchased a new stake in shares of EQT during the 2nd quarter worth $28,000. Truvestments Capital LLC acquired a new position in shares of EQT during the 3rd quarter worth $30,000. Quarry LP increased its holdings in shares of EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in shares of EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 904 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is currently owned by insiders.

EQT Stock Down 2.5 %

EQT opened at $43.33 on Monday. The stock has a market capitalization of $25.85 billion, a price-to-earnings ratio of 51.58 and a beta of 1.14. EQT Co. has a 12 month low of $30.02 and a 12 month high of $48.02. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The business has a 50-day moving average of $40.22 and a two-hundred day moving average of $37.26.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the business posted $0.30 earnings per share. EQT’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts expect that EQT Co. will post 1.36 earnings per share for the current year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th were given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Analyst Ratings Changes

Several research analysts have weighed in on EQT shares. Sanford C. Bernstein began coverage on shares of EQT in a research report on Friday. They set a “market perform” rating and a $50.00 target price on the stock. Piper Sandler raised their price objective on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $49.00 price objective on shares of EQT in a report on Tuesday, December 3rd. Stephens upped their target price on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Bank of America began coverage on EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.11.

EQT 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.