EQT (NYSE:EQT) Posts Earnings Results, Beats Estimates By $0.12 EPS

EQT (NYSE:EQT) posted its quarterly earnings data on Tuesday. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12, Briefing.com reports. EQT had a net margin of 12.45% and a return on equity of 4.55%. The business had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business earned ($0.17) earnings per share. The business’s revenue for the quarter was down 6.5% on a year-over-year basis.

EQT Stock Down 0.1 %

Shares of EQT stock traded down $0.03 during midday trading on Friday, reaching $34.35. 4,672,225 shares of the company’s stock traded hands, compared to its average volume of 7,120,267. The company has a market cap of $15.17 billion, a price-to-earnings ratio of 24.92 and a beta of 1.12. The company’s 50 day simple moving average is $38.46 and its 200 day simple moving average is $37.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 0.88. EQT has a 52 week low of $32.07 and a 52 week high of $45.23.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.83%. EQT’s dividend payout ratio is currently 45.65%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EQT shares. TD Cowen started coverage on shares of EQT in a report on Friday, April 19th. They set a “hold” rating and a $43.00 target price for the company. Wells Fargo & Company cut shares of EQT from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $48.00 to $37.00 in a report on Wednesday, April 17th. Piper Sandler reduced their target price on shares of EQT from $47.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday. Morgan Stanley raised their target price on shares of EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Finally, BMO Capital Markets raised their price objective on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and an average target price of $45.50.

Insider Activity

In other news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the transaction, the executive vice president now owns 456,837 shares in the company, valued at approximately $18,602,402.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the sale, the executive vice president now owns 456,837 shares in the company, valued at $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is owned by insiders.

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.