Panview Capital Ltd Purchases New Shares in EQT Corporation $EQT

Panview Capital Ltd bought a new position in EQT Corporation (NYSE:EQT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 513,039 shares of the oil and gas producer’s stock, valued at approximately $27,278,000. EQT makes up about 4.8% of Panview Capital Ltd’s portfolio, making the stock its 10th largest holding.

Other large investors have also made changes to their positions in the company. Greykasell Wealth Strategies Inc. acquired a new stake in EQT during the 4th quarter worth about $26,000. Meeder Asset Management Inc. acquired a new position in shares of EQT in the 2nd quarter valued at about $26,000. Gables Capital Management Inc. acquired a new position in shares of EQT in the 2nd quarter valued at about $37,000. Elyxium Wealth LLC purchased a new stake in shares of EQT in the fourth quarter worth approximately $49,000. Finally, Root Financial Partners LLC lifted its position in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Performance

Shares of EQT opened at $53.74 on Monday. The firm has a market cap of $33.62 billion, a price-to-earnings ratio of 12.47 and a beta of 0.58. The company’s fifty day moving average is $51.99 and its 200-day moving average is $56.46. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The firm’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 EPS. Equities analysts expect that EQT Corporation will post 3.97 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. EQT’s dividend payout ratio (DPR) is 15.31%.

Insiders Place Their Bets

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 274,042 shares of company stock worth $15,005,076 in the last 90 days. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of EQT from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Truist Financial cut their target price on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Stephens lifted their target price on shares of EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Sanford C. Bernstein restated an “outperform” rating on shares of EQT in a report on Thursday, July 30th. Finally, Capital One Financial upped their price target on shares of EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.10.

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.