Rockingstone Advisors LLC Boosts Stock Holdings in EQT Co. (NYSE:EQT)

Rockingstone Advisors LLC boosted its stake in shares of EQT Co. (NYSE:EQT) by 320.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,350 shares of the oil and gas producer’s stock after buying an additional 34,560 shares during the period. Rockingstone Advisors LLC’s holdings in EQT were worth $2,091,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in shares of EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after buying an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC acquired a new stake in EQT in the third quarter valued at approximately $562,494,000. State Street Corp increased its position in shares of EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of EQT by 34.4% in the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of EQT during the third quarter worth about $97,979,000. Institutional investors own 90.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Sanford C. Bernstein upgraded shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price for the company in a research note on Wednesday. Citigroup lifted their price objective on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Piper Sandler boosted their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. BMO Capital Markets increased their price objective on EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Finally, Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $48.00 to $57.00 in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and a consensus target price of $49.94.

Insider Transactions at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the sale, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

EQT Stock Performance

NYSE:EQT opened at $52.38 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $31.25 billion, a PE ratio of 62.36 and a beta of 1.12. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $53.00. The company has a fifty day moving average of $45.09 and a two-hundred day moving average of $38.45.

EQT (NYSE:EQT) last released 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. EQT had a net margin of 5.52% and a return on equity of 3.74%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts forecast that EQT Co. will post 1.37 earnings per share for the current fiscal year.

EQT Company Profile

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.