EQT Corporation $EQT Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its position in EQT Corporation (NYSE:EQT) by 18.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,452 shares of the oil and gas producer’s stock after selling 24,809 shares during the period. ProShare Advisors LLC’s holdings in EQT were worth $5,315,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Vise Technologies Inc. grew its stake in EQT by 8.3% in the 3rd quarter. Vise Technologies Inc. now owns 6,116 shares of the oil and gas producer’s stock valued at $297,000 after acquiring an additional 469 shares during the last quarter. Americana Partners LLC grew its position in shares of EQT by 42.3% in the third quarter. Americana Partners LLC now owns 12,374 shares of the oil and gas producer’s stock valued at $601,000 after purchasing an additional 3,680 shares during the last quarter. State of Wyoming increased its stake in shares of EQT by 26.4% during the 3rd quarter. State of Wyoming now owns 1,379 shares of the oil and gas producer’s stock worth $67,000 after purchasing an additional 288 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of EQT by 162.2% during the 3rd quarter. D.A. Davidson & CO. now owns 12,157 shares of the oil and gas producer’s stock worth $590,000 after purchasing an additional 7,520 shares in the last quarter. Finally, Motley Fool Asset Management LLC raised its position in shares of EQT by 8.3% during the 3rd quarter. Motley Fool Asset Management LLC now owns 13,451 shares of the oil and gas producer’s stock worth $653,000 after purchasing an additional 1,030 shares during the last quarter. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at EQT

In other news, CEO Toby Rice sold 175,328 shares of EQT stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

EQT has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of EQT in a research note on Wednesday, October 28th. Wall Street Zen downgraded EQT from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Truist Financial boosted their price target on EQT from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company reduced their price objective on EQT from $79.00 to $71.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 27th. Finally, Mizuho decreased their price objective on EQT from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.

EQT Stock Performance

Shares of EQT opened at $52.62 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $32.92 billion, a price-to-earnings ratio of 13.43 and a beta of 0.68. The company’s 50 day simple moving average is $53.20 and its 200 day simple moving average is $55.54. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24.

EQT (NYSE:EQT) last released its earnings results on Tuesday, October 27th. The oil and gas producer reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. EQT had a net margin of 28.40% and a return on equity of 8.89%. EQT’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. On average, sell-side analysts predict that EQT Corporation will post 3.86 EPS for the current year.

EQT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Wednesday, November 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. This is a positive change from EQT’s previous quarterly dividend of $0.1650. The ex-dividend date is Wednesday, November 4th. EQT’s payout ratio is 15.64%.

EQT Profile

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company develops and operates unconventional oil and gas properties, with a primary focus on natural gas and natural gas liquids produced from shale formations.

EQT’s operations are concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations in Pennsylvania, West Virginia and Ohio. Its activities include drilling, completion, production and management of natural gas wells, along with related gathering and infrastructure operations that support the transportation of its products to market.

The company traces its roots to Equitable Gas, founded in 1878, and has evolved through multiple stages of expansion and restructuring in the U.S.