Insider Selling: EQT (NYSE:EQT) CEO Sells $92,539.26 in Stock

EQT Corporation (NYSE:EQT) CEO Toby Rice sold 1,731 shares of EQT stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $53.46, for a total transaction of $92,539.26. Following the completion of the transaction, the chief executive officer directly owned 2,333,193 shares of the company’s stock, valued at $124,732,497.78. This trade represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

EQT Stock Down 2.6%

Shares of EQT stock opened at $51.25 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.66 and a current ratio of 0.66. The stock has a market capitalization of $32.06 billion, a PE ratio of 9.73 and a beta of 0.55. EQT Corporation has a 52-week low of $48.47 and a 52-week high of $68.24. The company has a 50-day simple moving average of $57.16 and a two-hundred day simple moving average of $57.59.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.32. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.14 billion. EQT had a net margin of 31.94% and a return on equity of 9.74%. During the same period in the previous year, the company earned $1.18 earnings per share. On average, analysts anticipate that EQT Corporation will post 4.7 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 6th were issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, May 6th. EQT’s payout ratio is presently 12.52%.

Analysts Set New Price Targets

Several research firms have recently weighed in on EQT. Barclays boosted their price objective on shares of EQT from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, March 16th. TD Securities raised shares of EQT to a “strong-buy” rating in a report on Friday, February 20th. UBS Group decreased their price objective on shares of EQT from $75.00 to $74.00 and set a “buy” rating for the company in a report on Friday, April 24th. Capital One Financial boosted their price objective on shares of EQT from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Finally, Sanford C. Bernstein decreased their price objective on shares of EQT from $73.00 to $69.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, EQT has an average rating of “Moderate Buy” and an average target price of $68.83.

Institutional Trading of EQT

Several large investors have recently added to or reduced their stakes in the business. Westpac Banking Corp grew its position in EQT by 6.6% during the third quarter. Westpac Banking Corp now owns 2,671 shares of the oil and gas producer’s stock valued at $145,000 after buying an additional 165 shares during the period. Parallel Advisors LLC grew its position in EQT by 1.0% during the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock valued at $1,022,000 after buying an additional 198 shares during the period. Root Financial Partners LLC grew its position in EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 202 shares during the period. Rothschild Investment LLC grew its position in EQT by 0.5% during the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock valued at $2,497,000 after buying an additional 215 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in EQT by 4.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock valued at $392,000 after buying an additional 236 shares during the period. 90.81% of the stock is currently owned by institutional investors.

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.