Allstate Corp Buys New Holdings in EQT Corporation $EQT

Allstate Corp purchased a new stake in shares of EQT Corporation (NYSE:EQT) in the third quarter, HoldingsChannel.com reports. The firm purchased 22,671 shares of the oil and gas producer’s stock, valued at approximately $1,234,000.

Other large investors also recently modified their holdings of the company. Caxton Associates LLP purchased a new stake in shares of EQT during the 1st quarter worth about $256,000. Focus Partners Wealth raised its holdings in EQT by 9.0% in the first quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock valued at $1,156,000 after buying an additional 1,789 shares during the period. Farther Finance Advisors LLC lifted its position in EQT by 6.5% during the second quarter. Farther Finance Advisors LLC now owns 9,076 shares of the oil and gas producer’s stock valued at $529,000 after buying an additional 554 shares in the last quarter. GAMMA Investing LLC grew its stake in EQT by 6.1% during the second quarter. GAMMA Investing LLC now owns 12,675 shares of the oil and gas producer’s stock worth $739,000 after buying an additional 725 shares during the period. Finally, AdvisorNet Financial Inc grew its stake in EQT by 479.5% during the second quarter. AdvisorNet Financial Inc now owns 2,179 shares of the oil and gas producer’s stock worth $127,000 after buying an additional 1,803 shares during the period. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at EQT

In other news, EVP J.E.B. Bolen sold 1,422 shares of the stock in a transaction dated Tuesday, October 28th. The shares were sold at an average price of $52.79, for a total transaction of $75,067.38. Following the transaction, the executive vice president owned 69,486 shares of the company’s stock, valued at approximately $3,668,165.94. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

EQT has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of EQT from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. JPMorgan Chase & Co. increased their price target on EQT from $62.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Jefferies Financial Group reissued a “buy” rating on shares of EQT in a research report on Sunday. Piper Sandler upped their target price on EQT from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 18th. Finally, UBS Group reiterated a “buy” rating on shares of EQT in a research note on Wednesday. Nineteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.95.

EQT Trading Up 6.5%

EQT opened at $54.81 on Thursday. EQT Corporation has a 12-month low of $43.57 and a 12-month 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 stock has a market capitalization of $34.20 billion, a PE ratio of 18.77, a P/E/G ratio of 0.39 and a beta of 0.68. The firm’s fifty day moving average price is $55.52 and its 200 day moving average price is $54.25.

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

EQT Profile

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.