Oak Thistle LLC Increases Stock Position in EQT Co. (NYSE:EQT)

Oak Thistle LLC boosted its position in shares of EQT Co. (NYSE:EQT) by 288.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 28,182 shares of the oil and gas producer’s stock after acquiring an additional 20,930 shares during the period. Oak Thistle LLC’s holdings in EQT were worth $1,299,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQT. HM Payson & Co. acquired a new stake in shares of EQT during the third quarter valued at about $25,000. Truvestments Capital LLC acquired a new stake in EQT during the 3rd quarter valued at approximately $30,000. Hexagon Capital Partners LLC increased its holdings in EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after purchasing an additional 904 shares during the last quarter. Quarry LP raised its position in shares of EQT by 184.7% in the 3rd quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock valued at $33,000 after purchasing an additional 578 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of EQT during the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Stock Performance

Shares of EQT stock opened at $50.62 on Wednesday. The firm has a market cap of $30.20 billion, a PE ratio of 60.26 and a beta of 1.12. EQT Co. has a 12 month low of $30.02 and a 12 month high of $51.21. The company’s fifty day simple moving average is $45.09 and its 200-day simple moving average is $38.45. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.30 EPS. Equities research analysts expect that EQT Co. will post 1.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on EQT. JPMorgan Chase & Co. upped their target price on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. BMO Capital Markets lifted their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. Citigroup upped their price objective on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Piper Sandler lifted their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Sanford C. Bernstein started coverage on shares of EQT in a report on Friday, December 6th. They issued a “market perform” rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.67.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.