Oak Thistle LLC Sells 20,393 Shares of EQT Corporation (NYSE:EQT)

Oak Thistle LLC lessened its stake in shares of EQT Corporation (NYSE:EQT) by 72.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,789 shares of the oil and gas producer’s stock after selling 20,393 shares during the quarter. Oak Thistle LLC’s holdings in EQT were worth $416,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. lifted its position in EQT by 47.7% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer’s stock valued at $44,000 after acquiring an additional 310 shares in the last quarter. Mascagni Wealth Management Inc. bought a new position in EQT in the 4th quarter valued at about $55,000. Colonial Trust Co SC lifted its position in EQT by 255.5% in the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer’s stock valued at $66,000 after acquiring an additional 1,022 shares in the last quarter. Altshuler Shaham Ltd bought a new position in EQT in the 4th quarter valued at about $70,000. Finally, Capital A Wealth Management LLC bought a new position in EQT in the 4th quarter valued at about $72,000. Institutional investors own 90.81% of the company’s stock.

EQT Stock Down 3.3%

EQT stock opened at $52.22 on Friday. The firm has a 50 day simple moving average of $56.38 and a 200 day simple moving average of $53.07. The company has a current ratio of 0.71, a quick ratio of 0.57 and a debt-to-equity ratio of 0.32. EQT Corporation has a 1-year low of $30.02 and a 1-year high of $61.02. The firm has a market capitalization of $32.59 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 0.37 and a beta of 0.65.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). EQT had a net margin of 15.87% and a return on equity of 6.24%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the firm earned ($0.08) EPS. On average, analysts predict that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 6th will be issued a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.21%. EQT’s payout ratio is 34.05%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EQT. Roth Capital initiated coverage on shares of EQT in a research report on Tuesday, June 24th. They issued a “buy” rating and a $69.00 price target on the stock. Wall Street Zen cut shares of EQT from a “hold” rating to a “sell” rating in a research report on Monday, April 7th. TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research report on Tuesday, April 8th. Piper Sandler lifted their target price on shares of EQT from $48.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Morgan Stanley reissued an “overweight” rating on shares of EQT in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.84.

EQT Company 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.