EQT (NYSE:EQT) CEO Sells $5,264,237.24 in Stock

EQT Corporation (NYSE:EQT) CEO Toby Rice sold 96,983 shares of the company’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 represents a 3.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

EQT Stock Down 2.6%

Shares of NYSE:EQT opened at $51.25 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. EQT Corporation has a 52-week low of $48.47 and a 52-week high of $68.24. The stock’s fifty day simple moving average is $57.16 and its 200-day simple moving average is $57.59. The company has a market capitalization of $32.06 billion, a P/E ratio of 9.73 and a beta of 0.55.

EQT (NYSE:EQT) last released its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 EPS for the quarter, beating the consensus estimate of $2.01 by $0.32. The firm had revenue of $3.14 billion during 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 period in the prior year, the firm posted $1.18 earnings per share. As a group, equities research analysts forecast that EQT Corporation will post 4.7 earnings per share for the current fiscal year.

EQT Dividend Announcement

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

Institutional Investors Weigh In On EQT

Large investors have recently modified their holdings of the stock. Greykasell Wealth Strategies Inc. acquired a new stake in shares of EQT in the fourth quarter valued at about $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 grew its stake in shares of EQT by 95.6% in the fourth 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 in the last quarter. Root Financial Partners LLC grew its stake in shares of EQT by 35.4% in the first 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 in the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of EQT in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on EQT shares. Citigroup upped their target price on EQT from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Evercore upped their target price on EQT from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. TD Securities upgraded EQT to a “strong-buy” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. upped their price target on EQT from $68.00 to $72.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 17th. Finally, Morgan Stanley upped their price target on EQT from $69.00 to $74.00 and gave the stock an “overweight” rating in a research note on Friday, March 27th. Two equities research 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’s stock. Based on data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.83.

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.