EQT (NYSE:EQT) Shares Down 8.8%

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EQT Co. (NYSE:EQT)’s stock price traded down 8.8% during trading on Friday . The stock traded as low as $10.32 and last traded at $10.35, 12,308,342 shares traded hands during trading. An increase of 169% from the average session volume of 4,572,795 shares. The stock had previously closed at $11.35.

Several equities analysts have recently commented on the stock. Macquarie assumed coverage on shares of EQT in a research note on Wednesday, May 29th. They set a “neutral” rating and a $21.00 price objective for the company. TD Securities lowered their price objective on shares of EQT from $17.50 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 26th. Morgan Stanley lowered their price objective on shares of EQT from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Friday, July 26th. Finally, Wells Fargo & Co raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $31.03.

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average is $13.90 and its 200-day moving average is $17.82. The company has a market cap of $2.90 billion, a PE ratio of 6.09, a PEG ratio of 1.12 and a beta of 0.57.

EQT (NYSE:EQT) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.13. EQT had a negative net margin of 7.41% and a positive return on equity of 4.25%. The company had revenue of $958.40 million for the quarter, compared to analysts’ expectations of $929.86 million. During the same quarter in the previous year, the company earned $0.44 earnings per share. EQT’s quarterly revenue was down 5.8% on a year-over-year basis. As a group, equities research analysts anticipate that EQT Co. will post 1.02 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, August 8th. EQT’s dividend payout ratio is currently 7.06%.

In other EQT news, CEO Robert Joseph Mcnally acquired 13,572 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were acquired at an average price of $18.37 per share, for a total transaction of $249,317.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Erin R. Centofanti sold 2,970 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $16.03, for a total transaction of $47,609.10. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC purchased a new stake in EQT in the second quarter worth about $25,000. Point72 Hong Kong Ltd bought a new position in shares of EQT in the second quarter worth approximately $37,000. Machina Capital S.A.S. bought a new position in shares of EQT in the second quarter worth approximately $45,000. Tower Research Capital LLC TRC lifted its stake in shares of EQT by 1,246.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,905 shares of the oil and gas producer’s stock worth $62,000 after buying an additional 3,615 shares in the last quarter. Finally, Hilton Capital Management LLC bought a new position in shares of EQT in the first quarter worth approximately $65,000. Institutional investors and hedge funds own 96.54% of the company’s stock.

EQT Company Profile (NYSE:EQT)

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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