Simmons Bank Invests $2.48 Million in EQT Corporation $EQT

Simmons Bank acquired a new stake in shares of EQT Corporation (NYSE:EQT) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 38,943 shares of the oil and gas producer’s stock, valued at approximately $2,478,000.

Several other large investors also recently added to or reduced their stakes in the stock. Reaves W H & Co. Inc. increased its position in shares of EQT by 12.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock worth $62,282,000 after acquiring an additional 132,741 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of EQT by 21.5% in the fourth quarter. Cullen Frost Bankers Inc. now owns 186,352 shares of the oil and gas producer’s stock valued at $9,988,000 after purchasing an additional 32,921 shares during the period. BOKF NA boosted its holdings in shares of EQT by 25.9% in the fourth quarter. BOKF NA now owns 138,368 shares of the oil and gas producer’s stock valued at $7,417,000 after purchasing an additional 28,427 shares during the period. Allstate Corp grew its stake in EQT by 114.0% in the fourth quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer’s stock worth $2,601,000 after purchasing an additional 25,852 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC bought a new position in EQT in the fourth quarter worth approximately $1,099,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on EQT. Truist Financial reduced their price objective on EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Citigroup increased their price target on EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Stephens cut their price target on EQT from $78.00 to $73.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 21st. Capital One Financial lifted their price objective on EQT from $64.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Finally, Roth Mkm reaffirmed a “neutral” rating on shares of EQT in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.96.

Insiders Place Their Bets

In other news, CEO Toby Z. Rice sold 1,731 shares of the firm’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $53.46, for a total value of $92,539.26. Following the sale, the chief executive officer directly owned 2,333,193 shares in the company, valued at approximately $124,732,497.78. This trade represents a 0.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of the firm’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $59.80, for a total transaction of $246,136.80. The SEC filing for this sale provides additional information. Insiders have sold a total of 102,830 shares of company stock valued at $5,602,913 over the last 90 days. 0.72% of the stock is currently owned by company insiders.

EQT Stock Performance

Shares of EQT stock opened at $53.17 on Wednesday. The firm has a market cap of $33.26 billion, a price-to-earnings ratio of 10.09 and a beta of 0.55. EQT Corporation has a 52-week low of $48.47 and a 52-week high of $68.24. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $55.23 and its 200 day moving average is $56.90.

EQT (NYSE:EQT) last posted its earnings results 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 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 quarter in the prior year, the business earned $1.18 earnings per share. On average, sell-side analysts anticipate that EQT Corporation will post 4.5 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 6th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, May 6th. EQT’s payout ratio is presently 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.