Moody National Bank Trust Division Cuts Stock Position in EQT Co. (NYSE:EQT)

Moody National Bank Trust Division lessened its position in EQT Co. (NYSE:EQT) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,419 shares of the oil and gas producer’s stock after selling 335 shares during the quarter. Moody National Bank Trust Division’s holdings in EQT were worth $1,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System grew its stake in EQT by 3.6% during the 4th quarter. California State Teachers Retirement System now owns 538,463 shares of the oil and gas producer’s stock worth $20,817,000 after purchasing an additional 18,804 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in EQT by 421.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 64,900 shares of the oil and gas producer’s stock worth $2,509,000 after purchasing an additional 52,443 shares in the last quarter. Cibc World Markets Corp grew its stake in EQT by 162.4% during the 4th quarter. Cibc World Markets Corp now owns 52,370 shares of the oil and gas producer’s stock worth $2,025,000 after purchasing an additional 32,409 shares in the last quarter. National Bank of Canada FI grew its stake in EQT by 600.0% during the 4th quarter. National Bank of Canada FI now owns 95,871 shares of the oil and gas producer’s stock worth $3,731,000 after purchasing an additional 82,176 shares in the last quarter. Finally, Third Point LLC acquired a new position in EQT during the 4th quarter worth $75,387,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EQT has been the subject of several analyst reports. Truist Financial lowered their target price on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, April 5th. Sanford C. Bernstein raised EQT from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $27.00 to $34.00 in a research report on Wednesday, April 10th. Stephens upped their price objective on EQT from $46.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 24th. Mizuho upped their price objective on EQT from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Finally, TD Cowen started coverage on EQT in a research report on Friday, April 19th. They set a “hold” rating and a $43.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $45.24.

EQT Stock Performance

Shares of EQT stock opened at $38.20 on Thursday. The company has a market cap of $16.87 billion, a price-to-earnings ratio of 27.68 and a beta of 1.06. The stock has a 50 day simple moving average of $39.72 and a 200-day simple moving average of $37.63. EQT Co. has a 12-month low of $32.07 and a 12-month high of $45.23. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.17. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. EQT had a return on equity of 4.57% and a net margin of 10.96%. The company’s revenue for the quarter was down 28.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.70 EPS. On average, equities analysts forecast that EQT Co. will post 1.03 EPS for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 8th were paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Tuesday, May 7th. EQT’s dividend payout ratio (DPR) is 45.65%.

Insider Buying and Selling

In related news, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now owns 456,837 shares in the company, valued at approximately $18,602,402.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now owns 456,837 shares in the company, valued at approximately $18,602,402.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the sale, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. Insiders own 0.63% of the company’s stock.

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.