Oppenheimer & Co. Inc. Acquires 53,739 Shares of EQT Co. (NYSE:EQT)

Oppenheimer & Co. Inc. increased its holdings in shares of EQT Co. (NYSE:EQT) by 203.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 80,126 shares of the oil and gas producer’s stock after purchasing an additional 53,739 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in EQT were worth $3,695,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EQT. New York Life Investment Management LLC raised its position in shares of EQT by 2.6% during the 4th quarter. New York Life Investment Management LLC now owns 80,453 shares of the oil and gas producer’s stock valued at $3,710,000 after acquiring an additional 2,012 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in EQT by 0.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 51,190 shares of the oil and gas producer’s stock valued at $2,360,000 after purchasing an additional 370 shares during the last quarter. National Pension Service lifted its stake in EQT by 15.0% in the fourth quarter. National Pension Service now owns 870,013 shares of the oil and gas producer’s stock valued at $40,116,000 after buying an additional 113,600 shares during the period. Lake Street Advisors Group LLC acquired a new position in EQT in the fourth quarter valued at about $214,000. Finally, Rothschild Investment LLC boosted its holdings in EQT by 1.7% during the fourth quarter. Rothschild Investment LLC now owns 46,246 shares of the oil and gas producer’s stock worth $2,132,000 after buying an additional 777 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on EQT. StockNews.com raised EQT to a “sell” rating in a research note on Saturday, February 8th. Citigroup increased their target price on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Sanford C. Bernstein raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a report on Wednesday, January 15th. Piper Sandler upped their price objective on shares of EQT from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group lifted their target price on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.39.

EQT Price Performance

Shares of EQT opened at $48.25 on Friday. The company has a 50 day moving average of $50.16 and a 200-day moving average of $42.40. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $28.82 billion, a P/E ratio of 120.62, a P/E/G ratio of 0.64 and a beta of 1.08. EQT Co. has a twelve month low of $30.02 and a twelve month high of $56.66.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. EQT had a net margin of 4.37% and a return on equity of 4.35%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.81 billion. As a group, equities research analysts forecast that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a dividend of $0.1575 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.63 annualized dividend and a yield of 1.31%. EQT’s dividend payout ratio (DPR) is presently 157.50%.

Insider Buying and Selling at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the 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 completion of the sale, the director now owns 201,608 shares of the company’s stock, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.63% of the company’s stock.

EQT 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.