CX Institutional Takes $190,000 Position in EQT Co. (NYSE:EQT)

CX Institutional bought a new stake in shares of EQT Co. (NYSE:EQT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,111 shares of the oil and gas producer’s stock, valued at approximately $190,000.

Several other institutional investors have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV increased its holdings in EQT by 25.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 12,046 shares of the oil and gas producer’s stock worth $478,000 after acquiring an additional 2,463 shares in the last quarter. AE Wealth Management LLC purchased a new stake in EQT in the 2nd quarter worth $230,000. Thrivent Financial for Lutherans increased its holdings in EQT by 6.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 17,817 shares of the oil and gas producer’s stock worth $659,000 after acquiring an additional 1,044 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in EQT by 414.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,472 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,186 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in EQT by 13.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 76,692 shares of the oil and gas producer’s stock worth $2,836,000 after acquiring an additional 9,323 shares in the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

EQT Trading Up 0.4 %

NYSE EQT opened at $53.78 on Monday. The firm’s 50-day moving average is $46.84 and its two-hundred day moving average is $39.37. EQT Co. has a 12 month low of $30.02 and a 12 month high of $54.85. 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 stock has a market capitalization of $32.09 billion, a P/E ratio of 64.03 and a beta of 1.12.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the company 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, sell-side analysts anticipate that EQT Co. will post 1.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EQT shares. BMO Capital Markets boosted their price target on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. UBS Group boosted their price target on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Piper Sandler lifted their target price on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Citigroup lifted their target price on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Mizuho raised shares of EQT from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $48.00 to $57.00 in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.89.

Insider Buying and Selling at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 filing with the SEC, which is available through this link. 0.63% of the stock is currently owned by corporate insiders.

About EQT

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.