Adams Natural Resources Fund Inc. Cuts Position in EQT Corporation $EQT

Adams Natural Resources Fund Inc. lowered its holdings in EQT Corporation (NYSE:EQT) by 14.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 223,900 shares of the oil and gas producer’s stock after selling 38,700 shares during the quarter. EQT accounts for about 1.7% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 15th biggest position. Adams Natural Resources Fund Inc.’s holdings in EQT were worth $14,249,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in EQT. Greykasell Wealth Strategies Inc. acquired a new position in shares of EQT during the 4th quarter worth $26,000. Aventura Private Wealth LLC acquired a new stake in shares of EQT in the fourth quarter valued at about $31,000. Fortitude Family Office LLC boosted its holdings in EQT by 95.6% during the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 280 shares in the last quarter. Elyxium Wealth LLC purchased a new stake in EQT during the fourth quarter worth about $49,000. Finally, Sound Income Strategies LLC grew its position in EQT by 186.4% during the fourth quarter. Sound Income Strategies LLC now owns 1,266 shares of the oil and gas producer’s stock worth $64,000 after buying an additional 824 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 EQT news, Director Vicky A. Bailey sold 4,116 shares of EQT stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $59.80, for a total value of $246,136.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Toby Z. Rice sold 1,731 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $53.46, for a total value of $92,539.26. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 102,830 shares of company stock valued at $5,602,913 over the last ninety days. 0.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

EQT has been the subject of a number of research reports. Wells Fargo & Company lifted their price target on shares of EQT from $70.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Stephens reduced their price objective on EQT from $78.00 to $73.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Wolfe Research upped their target price on EQT from $64.00 to $69.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Piper Sandler raised their price target on EQT from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, Citigroup boosted their price objective on shares of EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, EQT presently has an average rating of “Moderate Buy” and an average target price of $68.04.

EQT Price Performance

NYSE:EQT opened at $52.68 on Friday. EQT Corporation has a 12-month low of $48.47 and a 12-month high of $68.24. The firm has a market cap of $32.95 billion, a price-to-earnings ratio of 10.00 and a beta of 0.55. The company’s 50-day moving average is $55.47 and its two-hundred day moving average is $56.99. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.19.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.32. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate 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 firm posted $1.18 earnings per share. Research analysts expect that EQT Corporation will post 4.52 EPS for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 6th were given a dividend of $0.165 per share. 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 dividend payout ratio (DPR) is 12.52%.

EQT Company 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.