EQT Sees Unusually High Options Volume (NYSE:EQT)

EQT Corporation (NYSE:EQT) was the target of some unusual options trading on Monday. Stock traders acquired 27,981 put options on the stock. This represents an increase of approximately 50% compared to the average volume of 18,689 put options.

Analyst Ratings Changes

Several brokerages have recently issued reports on EQT. Mizuho increased their price objective on shares of EQT from $60.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. Sanford C. Bernstein upped their target price on shares of EQT from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. Royal Bank Of Canada lifted their price target on EQT from $60.00 to $62.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 7th. Jefferies Financial Group cut their price target on EQT from $70.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Finally, Piper Sandler increased their price objective on EQT from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, November 18th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average target price of $64.65.

EQT Stock Up 0.3%

NYSE:EQT traded up $0.14 on Monday, hitting $51.23. 8,944,136 shares of the company’s stock were exchanged, compared to its average volume of 10,213,675. The firm has a 50-day moving average price of $56.55 and a 200-day moving average price of $54.54. EQT has a 52 week low of $43.57 and a 52 week high of $62.23. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $31.97 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 0.29 and a beta of 0.68.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. EQT had a return on equity of 6.88% and a net margin of 22.59%.The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business earned $0.12 earnings per share. EQT’s quarterly revenue was up 52.6% on a year-over-year basis. As a group, analysts expect that EQT will post 3.27 EPS for the current fiscal year.

EQT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, November 5th. This is a boost from EQT’s previous quarterly dividend of $0.16. EQT’s payout ratio is currently 22.60%.

Insider Activity

In related news, EVP J.E.B. Bolen sold 1,422 shares of the stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $52.79, for a total transaction of $75,067.38. Following the completion of the sale, the executive vice president directly owned 69,486 shares of the company’s stock, valued at approximately $3,668,165.94. This represents a 2.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On EQT

Institutional investors have recently added to or reduced their stakes in the company. Caxton Associates LLP acquired a new position in shares of EQT in the first quarter valued at approximately $256,000. Focus Partners Wealth boosted its stake in EQT by 9.0% in the 1st quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock valued at $1,156,000 after purchasing an additional 1,789 shares during the period. Belpointe Asset Management LLC bought a new stake in EQT in the 1st quarter valued at $280,000. Geneos Wealth Management Inc. increased its position in EQT by 31.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 5,301 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 1,273 shares during the period. Finally, Strs Ohio bought a new position in EQT during the 1st quarter worth $1,844,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.