Central Bank & Trust Co. Lowers Stake in EQT Co. (NYSE:EQT)

Central Bank & Trust Co. cut its holdings in shares of EQT Co. (NYSE:EQT) by 5.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,721 shares of the oil and gas producer’s stock after selling 1,618 shares during the period. Central Bank & Trust Co.’s holdings in EQT were worth $1,324,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. HM Payson & Co. purchased a new position in EQT during the third quarter worth approximately $25,000. Truvestments Capital LLC acquired a new position in shares of EQT during the 3rd quarter worth approximately $30,000. Quarry LP grew its stake in EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 578 shares during the period. Hexagon Capital Partners LLC grew its stake in EQT by 18,080.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 904 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new stake in EQT in the 3rd quarter worth $36,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Down 1.6 %

EQT stock opened at $52.93 on Tuesday. EQT Co. has a one year low of $30.02 and a one year high of $53.98. The firm has a market cap of $31.58 billion, a PE ratio of 63.02 and a beta of 1.12. The firm’s 50 day moving average price is $45.83 and its 200-day moving average price is $38.79. 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 posted its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. On average, equities research analysts anticipate that EQT Co. will post 1.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EQT. StockNews.com raised shares of EQT to a “sell” rating in a report on Monday, December 30th. Morgan Stanley raised their price target on shares of EQT from $45.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Stephens lifted their price objective on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Piper Sandler increased their target price on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group boosted their price target on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. 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.com, EQT currently has an average rating of “Moderate Buy” and an average target price of $49.89.

Insider Buying and Selling at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT 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 completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by corporate insiders.

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.