Union Bancaire Privee UBP SA Makes New Investment in EQT Co. (NYSE:EQT)

Union Bancaire Privee UBP SA purchased a new stake in shares of EQT Co. (NYSE:EQT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 66,310 shares of the oil and gas producer’s stock, valued at approximately $3,022,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of EQT by 158.7% during the fourth quarter. Blue Trust Inc. now owns 6,944 shares of the oil and gas producer’s stock valued at $320,000 after acquiring an additional 4,260 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of EQT during the fourth quarter worth approximately $71,000. Fifth Third Bancorp lifted its holdings in EQT by 16.9% in the fourth quarter. Fifth Third Bancorp now owns 16,915 shares of the oil and gas producer’s stock valued at $780,000 after buying an additional 2,446 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of EQT by 18.9% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 629,055 shares of the oil and gas producer’s stock valued at $29,006,000 after acquiring an additional 100,010 shares during the last quarter. Finally, CX Institutional acquired a new position in shares of EQT in the 4th quarter valued at $190,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their price objective on EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the company from $55.00 to $54.00 in a report on Friday, January 17th. Jefferies Financial Group increased their target price on shares of EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Citigroup upped their price objective on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Piper Sandler lifted their target price on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.89.

Insiders Place Their Bets

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction dated 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 sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.63% of the company’s stock.

EQT Trading Up 0.4 %

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

EQT (NYSE:EQT) last announced its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. As a group, sell-side analysts forecast that EQT Co. will post 1.42 EPS for the current year.

EQT Company 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.