Toby Rice Sells 96,983 Shares of EQT (NYSE:EQT) Stock

EQT Corporation (NYSE:EQT) CEO Toby Rice sold 96,983 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $54.28, for a total value of $5,264,237.24. Following the transaction, the chief executive officer directly owned 2,334,924 shares in the company, valued at $126,739,674.72. This trade represents a 3.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

EQT Stock Performance

NYSE EQT opened at $52.71 on Thursday. The stock’s fifty day moving average is $57.41 and its two-hundred day moving average is $57.63. The firm has a market capitalization of $32.97 billion, a P/E ratio of 10.00 and a beta of 0.55. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.66 and a current ratio of 0.66. EQT Corporation has a fifty-two week low of $48.47 and a fifty-two week high of $68.24.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.32. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.14 billion. EQT had a return on equity of 9.74% and a net margin of 31.94%.During the same quarter in the previous year, the company posted $1.18 earnings per share. On average, research analysts anticipate that EQT Corporation will post 4.7 earnings per share for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 6th were given a $0.165 dividend. The ex-dividend date was Wednesday, May 6th. This represents a $0.66 dividend on an annualized basis and a yield of 1.3%. EQT’s payout ratio is currently 12.52%.

Wall Street Analyst Weigh In

A number of research firms have commented on EQT. JPMorgan Chase & Co. lifted their target price on EQT from $68.00 to $72.00 and gave the company an “overweight” rating in a research report on Tuesday, March 17th. Morgan Stanley lifted their target price on EQT from $69.00 to $74.00 and gave the company an “overweight” rating in a research report on Friday, March 27th. Stephens reduced their target price on EQT from $78.00 to $73.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Sanford C. Bernstein reduced their target price on EQT from $73.00 to $69.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. Finally, Jefferies Financial Group restated a “buy” rating on shares of EQT in a research report on Sunday, April 26th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.83.

Institutional Investors Weigh In On EQT

Institutional investors and hedge funds have recently modified their holdings of the company. Greykasell Wealth Strategies Inc. purchased a new stake in shares of EQT in the 4th quarter valued at $26,000. Aventura Private Wealth LLC purchased a new stake in shares of EQT in the 4th quarter valued at $31,000. Fortitude Family Office LLC raised its holdings in shares of EQT by 95.6% in the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 280 shares during the period. Elyxium Wealth LLC purchased a new stake in shares of EQT in the 4th quarter valued at $49,000. Finally, Root Financial Partners LLC raised its holdings in shares of EQT by 35.4% in the 1st 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. Hedge funds and other institutional investors own 90.81% of the company’s stock.

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.