Simmons Bank Purchases Shares of 38,943 EQT Corporation $EQT

Simmons Bank acquired a new stake in shares of EQT Corporation (NYSE:EQT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 38,943 shares of the oil and gas producer’s stock, valued at approximately $2,478,000.

Several other large investors have also recently made changes to their positions in EQT. Parallel Advisors LLC boosted its stake in EQT by 1.0% during the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock valued at $1,022,000 after buying an additional 198 shares during the last quarter. Rothschild Investment LLC increased its stake in EQT by 0.5% in the 4th quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock worth $2,497,000 after acquiring an additional 215 shares during the last quarter. Fortitude Family Office LLC raised its holdings in shares of EQT by 95.6% during the 4th quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 280 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of EQT by 4.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 11,813 shares of the oil and gas producer’s stock worth $633,000 after acquiring an additional 456 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. bought a new position in shares of EQT during the 4th quarter valued at approximately $26,000. 90.81% of the stock is owned by institutional investors.

EQT Trading Up 2.3%

EQT stock opened at $53.17 on Wednesday. EQT Corporation has a twelve month low of $48.47 and a twelve month high of $68.24. The stock has a market capitalization of $33.26 billion, a price-to-earnings ratio of 10.09 and a beta of 0.55. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.19. The firm’s fifty day simple moving average is $55.23 and its two-hundred day simple moving average is $56.90.

EQT (NYSE:EQT) last released its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.32. EQT had a net margin of 31.94% and a return on equity of 9.74%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business earned $1.18 EPS. As a group, analysts anticipate that EQT Corporation will post 4.5 earnings per share for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 6th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 6th. This represents a $0.66 annualized dividend and a yield of 1.2%. EQT’s dividend payout ratio (DPR) is presently 12.52%.

Insider Activity

In other news, CEO Toby Z. Rice sold 1,731 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $53.46, for a total value of $92,539.26. Following the sale, the chief executive officer directly owned 2,333,193 shares in the company, valued at approximately $124,732,497.78. This represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vicky A. Bailey sold 4,116 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The SEC filing for this sale provides additional information. In the last three months, insiders sold 102,830 shares of company stock valued at $5,602,913. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EQT. Stephens cut their target price on shares of EQT from $78.00 to $73.00 and set an “overweight” rating for the company in a report on Tuesday, April 21st. Zacks Research lowered shares of EQT from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 22nd. Citigroup lifted their price objective on shares of EQT from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. UBS Group dropped their price target on EQT from $75.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Finally, Piper Sandler boosted their price objective on EQT from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average price target of $67.96.

EQT Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.