EQT Target of Unusually High Options Trading (NYSE:EQT)

EQT Co. (NYSE:EQT) saw unusually large options trading on Monday. Stock traders acquired 5,091 call options on the stock. This represents an increase of 922% compared to the average volume of 498 call options.

A number of institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in EQT by 24.7% during the first quarter. State Street Corp now owns 17,973,021 shares of the oil and gas producer’s stock worth $127,069,000 after purchasing an additional 3,554,443 shares during the last quarter. AXA raised its position in EQT by 34.5% in the first quarter. AXA now owns 22,600 shares of the oil and gas producer’s stock worth $160,000 after acquiring an additional 5,800 shares during the period. New Mexico Educational Retirement Board raised its position in EQT by 38.1% in the first quarter. New Mexico Educational Retirement Board now owns 60,900 shares of the oil and gas producer’s stock worth $431,000 after acquiring an additional 16,800 shares during the period. Verus Capital Partners LLC bought a new stake in EQT in the first quarter worth about $27,000. Finally, Clearbridge Investments LLC grew its position in shares of EQT by 66.3% in the first quarter. Clearbridge Investments LLC now owns 5,579,207 shares of the oil and gas producer’s stock valued at $39,445,000 after purchasing an additional 2,224,745 shares in the last quarter. Institutional investors and hedge funds own 98.16% of the company’s stock.

Several equities analysts have issued reports on EQT shares. Cfra upped their price target on shares of EQT from $5.00 to $16.00 and gave the company a “hold” rating in a research report on Friday, May 8th. MKM Partners raised shares of EQT from a “neutral” rating to a “buy” rating and dropped their price target for the company from $12.00 to $10.00 in a research note on Monday, March 2nd. Royal Bank of Canada reaffirmed a “buy” rating on shares of EQT in a research note on Thursday, May 21st. Morgan Stanley lowered their target price on shares of EQT from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 19th. Finally, Wells Fargo & Co lowered their target price on shares of EQT from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Thursday, June 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.85.

Shares of NYSE EQT opened at $11.06 on Tuesday. The stock has a market capitalization of $2.72 billion, a P/E ratio of -1.79 and a beta of 1.33. The company has a 50-day moving average price of $13.47 and a 200-day moving average price of $10.05. EQT has a 1 year low of $4.21 and a 1 year high of $17.16. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.32 and a quick ratio of 1.32.

EQT (NYSE:EQT) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas producer reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.19. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $963.18 million. EQT had a negative net margin of 36.06% and a positive return on equity of 0.35%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the company earned $0.83 earnings per share. As a group, equities research analysts anticipate that EQT will post -0.21 earnings per share for the current fiscal year.

EQT Company Profile

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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