EQT Co. (NYSE:EQT) Stock Holdings Trimmed by Prelude Capital Management LLC

Prelude Capital Management LLC reduced its position in EQT Co. (NYSE:EQT) by 78.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,570 shares of the oil and gas producer’s stock after selling 31,320 shares during the quarter. Prelude Capital Management LLC’s holdings in EQT were worth $273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ahrens Investment Partners LLC bought a new position in shares of EQT during the first quarter valued at approximately $29,000. City Holding Co. bought a new position in shares of EQT during the first quarter valued at approximately $32,000. Zullo Investment Group Inc. grew its holdings in shares of EQT by 258.6% during the fourth quarter. Zullo Investment Group Inc. now owns 1,040 shares of the oil and gas producer’s stock valued at $35,000 after purchasing an additional 750 shares during the last quarter. Belpointe Asset Management LLC raised its stake in EQT by 270.0% during the 1st quarter. Belpointe Asset Management LLC now owns 1,258 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 918 shares during the period. Finally, Clearstead Advisors LLC acquired a new stake in EQT during the 3rd quarter valued at $41,000. 99.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder S Wil Vanloh, Jr. sold 20,000,000 shares of EQT stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $41.40, for a total transaction of $828,000,000.00. Following the sale, the insider now directly owns 23,946,108 shares of the company’s stock, valued at $991,368,871.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.53% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Jefferies Financial Group boosted their target price on shares of EQT from $46.00 to $49.00 in a research note on Friday, July 7th. Truist Financial upped their price target on shares of EQT from $35.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, September 11th. Wells Fargo & Company upped their price target on shares of EQT from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Friday, September 1st. Mizuho dropped their price target on shares of EQT from $52.00 to $47.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Tudor, Pickering, Holt & Co. upgraded shares of EQT from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.71.

EQT Trading Down 0.8 %

Shares of NYSE:EQT opened at $41.19 on Tuesday. The company has a market cap of $14.90 billion, a P/E ratio of 4.63, a P/E/G ratio of 1.10 and a beta of 1.22. The stock’s 50-day moving average is $41.90 and its 200-day moving average is $37.23. EQT Co. has a 52-week low of $28.10 and a 52-week high of $48.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.11 and a current ratio of 1.11.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 25th. The oil and gas producer reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.09. EQT had a return on equity of 10.61% and a net margin of 38.44%. The company had revenue of $993.08 million for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the business posted $0.83 earnings per share. The firm’s revenue was down 38.4% compared to the same quarter last year. Equities research analysts predict that EQT Co. will post 2.01 earnings per share for the current year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Wednesday, August 9th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, August 8th. EQT’s dividend payout ratio (DPR) is presently 6.75%.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.