EQT Co. (NYSE:EQT) Sees Large Growth in Short Interest

EQT Co. (NYSE:EQTGet Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 34,080,000 shares, an increase of 6.3% from the April 30th total of 32,060,000 shares. Based on an average daily volume of 6,950,000 shares, the days-to-cover ratio is presently 4.9 days.

EQT Price Performance

Shares of EQT stock traded down $0.35 during trading on Monday, reaching $40.74. 2,873,301 shares of the company’s stock were exchanged, compared to its average volume of 6,471,939. The firm’s 50-day moving average price is $38.83 and its 200 day moving average price is $37.61. The company has a market cap of $17.99 billion, a P/E ratio of 29.78 and a beta of 1.06. 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 1-year low of $32.07 and a 1-year high of $45.23.

EQT (NYSE:EQTGet Free Report) last issued its earnings results on Tuesday, April 23rd. The oil and gas producer reported $0.82 EPS for the quarter, topping the consensus estimate of $0.65 by $0.17. EQT had a return on equity of 4.57% and a net margin of 10.96%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm earned $1.70 earnings per share. The business’s quarterly revenue was down 28.8% on a year-over-year basis. As a group, research analysts anticipate that EQT will post 1.03 earnings per share for the current year.

EQT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.1575 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.55%. EQT’s payout ratio is presently 45.65%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on EQT shares. BMO Capital Markets increased their price objective on shares of EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Piper Sandler restated an “overweight” rating and set a $46.00 price objective (up from $41.00) on shares of EQT in a research report on Tuesday, April 30th. Truist Financial reduced their price objective on EQT from $37.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 5th. Jefferies Financial Group increased their target price on EQT from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, The Goldman Sachs Group reduced their price target on EQT from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.94.

Check Out Our Latest Stock Report on EQT

Insider Buying and Selling at EQT

In related 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 value of $1,425,200.00. Following the completion of the transaction, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other EQT news, EVP William E. Jordan sold 35,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Lesley Evancho sold 46,884 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 160,884 shares in the company, valued at approximately $6,642,900.36. The disclosure for this sale can be found here. Corporate insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Private Wealth Management Group LLC bought a new stake in EQT during the 4th quarter worth $30,000. BKM Wealth Management LLC bought a new stake in shares of EQT during the fourth quarter worth about $40,000. Principal Securities Inc. acquired a new position in shares of EQT in the fourth quarter valued at approximately $51,000. First Command Advisory Services Inc. bought a new position in EQT in the 3rd quarter valued at approximately $54,000. Finally, EntryPoint Capital LLC acquired a new stake in EQT during the 1st quarter worth approximately $54,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Company Profile

(Get Free Report)

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.

Further Reading

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