Callahan Advisors LLC Boosts Position in EQT Co. (NYSE:EQT)

Callahan Advisors LLC boosted its position in shares of EQT Co. (NYSE:EQT) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 347,674 shares of the oil and gas producer’s stock after acquiring an additional 10,551 shares during the quarter. EQT accounts for 1.6% of Callahan Advisors LLC’s portfolio, making the stock its 22nd biggest holding. Callahan Advisors LLC’s holdings in EQT were worth $13,441,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EQT. Laurel Wealth Advisors LLC purchased a new stake in EQT during the second quarter valued at $33,000. BKM Wealth Management LLC purchased a new stake in EQT during the fourth quarter valued at $40,000. Belpointe Asset Management LLC increased its position in EQT by 270.0% during the first quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock valued at $40,000 after acquiring an additional 918 shares during the last quarter. Tyler Stone Wealth Management purchased a new stake in EQT during the second quarter valued at $40,000. Finally, Clearstead Advisors LLC purchased a new stake in EQT during the third quarter valued at $41,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

EQT stock traded down $0.28 during midday trading on Friday, reaching $36.48. 3,681,585 shares of the stock traded hands, compared to its average volume of 8,734,444. The stock’s fifty day moving average is $35.53 and its 200-day moving average is $38.23. EQT Co. has a 12 month low of $30.84 and a 12 month high of $45.23. The stock has a market cap of $16.07 billion, a P/E ratio of 8.58 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, February 13th. The oil and gas producer reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.01. EQT had a return on equity of 7.12% and a net margin of 25.12%. The company had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The firm’s revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts anticipate that EQT Co. will post 2.35 EPS for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Friday, February 16th. EQT’s payout ratio is presently 14.82%.

Analyst Ratings Changes

A number of analysts have commented on EQT shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $37.00 price target (down previously from $39.00) on shares of EQT in a research report on Wednesday, March 20th. Mizuho restated a “neutral” rating and issued a $39.00 price target on shares of EQT in a research report on Thursday. StockNews.com upgraded EQT to a “sell” rating in a research report on Tuesday, March 12th. Jefferies Financial Group upped their price target on EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price target on shares of EQT in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, EQT has an average rating of “Hold” and an average target price of $43.29.

EQT Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.