Hennessy Advisors Inc. Decreases Stake in EQT Co. (NYSE:EQT)

Hennessy Advisors Inc. lessened its holdings in shares of EQT Co. (NYSE:EQT) by 15.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 673,968 shares of the oil and gas producer’s stock after selling 119,800 shares during the period. Hennessy Advisors Inc. owned 0.11% of EQT worth $31,077,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP grew its position in shares of EQT by 38.7% in 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 purchasing an additional 20,700,921 shares in the last quarter. State Street Corp boosted its stake in 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 buying an additional 7,290,822 shares during the last quarter. Modera Wealth Management LLC purchased a new stake in EQT in the 3rd quarter valued at $562,494,000. Geode Capital Management LLC increased its stake 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 acquiring an additional 3,582,418 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of EQT by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 9,084,686 shares of the oil and gas producer’s stock worth $335,952,000 after acquiring an additional 253,186 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Up 2.7 %

Shares of EQT stock opened at $53.86 on Friday. The business’s fifty day moving average price is $45.33 and its 200 day moving average price is $38.55. The firm has a market capitalization of $32.13 billion, a PE ratio of 64.12 and a beta of 1.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. EQT Co. has a 1-year low of $30.02 and a 1-year high of $53.98.

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 analysts’ consensus estimates of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, sell-side analysts forecast that EQT Co. will post 1.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EQT. Piper Sandler raised their price objective on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Jefferies Financial Group upped their price objective on EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Stephens raised their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein upgraded EQT from a “market perform” rating to an “outperform” rating and set a $73.00 target price for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.94.

Insider Buying and Selling at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

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.