Gulf International Bank UK Ltd Sells 396 Shares of EQT Co. (NYSE:EQT)

Gulf International Bank UK Ltd decreased its stake in EQT Co. (NYSE:EQT) by 0.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 44,728 shares of the oil and gas producer’s stock after selling 396 shares during the quarter. Gulf International Bank UK Ltd’s holdings in EQT were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in EQT. Wellington Management Group LLP lifted its stake in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after buying an additional 20,700,921 shares during the period. State Street Corp lifted its stake in EQT by 24.5% in the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after buying an additional 7,290,822 shares during the period. Geode Capital Management LLC lifted 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 buying an additional 3,582,418 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in EQT by 386.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after buying an additional 3,454,741 shares during the period. Finally, Holocene Advisors LP acquired a new position in EQT in the third quarter valued at about $97,979,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Up 3.5 %

NYSE:EQT opened at $48.25 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70. The company has a market cap of $28.82 billion, a PE ratio of 120.62, a PEG ratio of 0.64 and a beta of 1.08. EQT Co. has a 52-week low of $30.02 and a 52-week high of $56.66. The stock has a 50-day simple moving average of $50.16 and a 200 day simple moving average of $42.32.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. On average, sell-side analysts expect that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a $0.1575 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a yield of 1.31%. EQT’s dividend payout ratio is 157.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on EQT shares. Jefferies Financial Group increased their target price on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their price target on EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. StockNews.com raised EQT to a “sell” rating in a research report on Saturday, February 8th. Truist Financial raised 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. Finally, Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.39.

Insider Buying and Selling at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.63% of the company’s stock.

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.