Sound Shore Management Inc. CT cut its holdings in shares of EQT Corporation (NYSE:EQT – Free Report) by 18.6% during the first quarter, Holdings Channel.com reports. The fund owned 1,235,565 shares of the oil and gas producer’s stock after selling 282,022 shares during the period. EQT comprises approximately 2.6% of Sound Shore Management Inc. CT’s holdings, making the stock its 15th biggest position. Sound Shore Management Inc. CT’s holdings in EQT were worth $78,631,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of EQT. Reaves W H & Co. Inc. boosted its position in EQT by 12.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock worth $62,282,000 after purchasing an additional 132,741 shares in the last quarter. Whittier Trust Co. increased its position in shares of EQT by 9.6% in the first quarter. Whittier Trust Co. now owns 643,321 shares of the oil and gas producer’s stock valued at $38,857,000 after buying an additional 56,149 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of EQT by 9.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock valued at $31,253,000 after buying an additional 48,587 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of EQT by 228.5% during the 4th quarter. SG Americas Securities LLC now owns 517,651 shares of the oil and gas producer’s stock worth $27,746,000 after buying an additional 360,049 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of EQT by 5.6% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 302,193 shares of the oil and gas producer’s stock worth $18,252,000 after buying an additional 16,051 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.
EQT Stock Performance
Shares of NYSE:EQT opened at $49.54 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.66 and a quick ratio of 0.66. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The firm has a market capitalization of $30.99 billion, a PE ratio of 9.40 and a beta of 0.55. The business’s 50 day moving average price is $53.29 and its 200-day moving average price is $56.57.
EQT Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT’s dividend payout ratio (DPR) is currently 12.52%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on EQT. Truist Financial decreased their target price on EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Jefferies Financial Group reduced their price objective on shares of EQT from $77.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Evercore increased their price objective on shares of EQT from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, April 6th. JPMorgan Chase & Co. dropped their target price on shares of EQT from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 23rd. Finally, Morgan Stanley cut their target price on shares of EQT from $74.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $68.12.
Read Our Latest Stock Report on EQT
Insider Activity
In related news, CEO Toby Z. Rice sold 96,983 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $54.28, for a total transaction of $5,264,237.24. Following the completion of the sale, the chief executive officer owned 2,334,924 shares of the company’s stock, valued at approximately $126,739,674.72. This represents a 3.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of the stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $59.80, for a total transaction of $246,136.80. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 102,830 shares of company stock worth $5,602,913. Insiders own 0.72% of the company’s stock.
EQT Company Profile
EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.
In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.
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