EQT Co. (NYSE:EQT) Shares Sold by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC lessened its stake in EQT Co. (NYSE:EQT) by 46.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,727 shares of the oil and gas producer’s stock after selling 5,008 shares during the quarter. Crescent Grove Advisors LLC’s holdings in EQT were worth $264,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in EQT by 38.7% during the 3rd quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after buying an additional 20,700,921 shares during the last quarter. State Street Corp lifted its stake in EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Modera Wealth Management LLC acquired a new position in EQT in the third quarter valued at approximately $562,494,000. Geode Capital Management LLC increased its stake in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in EQT by 2.9% during the second quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after purchasing an additional 253,186 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EQT. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $55.00 to $54.00 in a report on Friday, January 17th. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research note on Wednesday, January 15th. Stephens lifted their target price on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com raised EQT to a “sell” rating in a research report on Monday, December 30th. Finally, Truist Financial lifted their price target on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and an average target price of $49.89.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. This trade represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

EQT Trading Up 0.4 %

NYSE EQT opened at $53.78 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $32.09 billion, a P/E ratio of 64.03 and a beta of 1.12. EQT Co. has a 52-week low of $30.02 and a 52-week high of $54.85. The firm has a 50-day moving average price of $46.84 and a 200 day moving average price of $39.37.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the firm earned $0.30 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts expect that EQT Co. will post 1.42 EPS for the current year.

About EQT

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.