Shell Asset Management Co. Reduces Stock Position in EQT Co. (NYSE:EQT)

Shell Asset Management Co. reduced its holdings in shares of EQT Co. (NYSE:EQT) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,348 shares of the oil and gas producer’s stock after selling 1,334 shares during the quarter. Shell Asset Management Co.’s holdings in EQT were worth $615,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock valued at $45,000 after buying an additional 205 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of EQT by 22.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 193 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of EQT during the 4th quarter valued at approximately $55,000. First Horizon Advisors Inc. lifted its stake in shares of EQT by 33.1% during the 4th quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock valued at $55,000 after buying an additional 298 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of EQT by 1,343.8% during the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock valued at $64,000 after buying an additional 1,290 shares in the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Performance

EQT stock opened at $55.83 on Monday. The firm’s fifty day moving average price is $51.59 and its 200-day moving average price is $48.90. 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 stock has a market cap of $33.42 billion, a P/E ratio of 139.58, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $57.04.

EQT (NYSE:EQT) last released its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. On average, equities research analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Wednesday, May 7th. EQT’s dividend payout ratio is currently 110.53%.

Analyst Ratings Changes

Several analysts have issued reports on EQT shares. Citigroup increased their target price on shares of EQT from $51.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. Stephens lowered their target price on shares of EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 15th. Mizuho increased their target price on shares of EQT from $57.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Morgan Stanley increased their target price on shares of EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, TD Cowen upgraded shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average price target of $56.67.

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.