Bard Financial Services Inc. Reduces Position in EQT Co. (NYSE:EQT)

Bard Financial Services Inc. lessened its holdings in shares of EQT Co. (NYSE:EQT) by 81.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,545 shares of the oil and gas producer’s stock after selling 19,415 shares during the quarter. Bard Financial Services Inc.’s holdings in EQT were worth $210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of EQT. Wellington Management Group LLP grew its stake in EQT by 38.7% in the 3rd 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 in the last quarter. State Street Corp boosted its holdings in shares of EQT by 24.5% in 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 acquiring an additional 7,290,822 shares during the period. Modera Wealth Management LLC purchased a new position in shares of EQT in the third quarter valued at $562,494,000. Geode Capital Management LLC raised its stake in shares of EQT by 34.4% during the 3rd quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in 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 purchasing an additional 253,186 shares in the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Trading Up 1.6 %

Shares of EQT stock traded up $0.73 on Monday, hitting $47.75. 3,366,998 shares of the company’s stock traded hands, compared to its average volume of 7,202,841. 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 $28.49 billion, a price-to-earnings ratio of 56.85 and a beta of 1.12. The company’s fifty day simple moving average is $43.42 and its 200 day simple moving average is $37.89. EQT Co. has a one year low of $30.02 and a one year high of $48.33.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS 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 the consensus estimate of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. Equities analysts forecast that EQT Co. will post 1.37 EPS for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

Insider Transactions at EQT

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 201,608 shares in the company, 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 Securities & Exchange Commission, which is available at this link. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EQT shares. UBS Group lifted their target price on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, November 4th. BMO Capital Markets boosted their price objective on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Morgan Stanley increased their target price on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Citigroup boosted their price target on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, StockNews.com upgraded EQT to a “sell” rating in a research report on Monday, December 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.78.

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.