Truist Financial Corp has lowered its stake in EQT Co. by 12.6% during the first quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The institutional investor sold 3,140 shares of the oil and gas producer’s stock, leaving them with 21,793 shares valued at $695,000.
Other hedge funds have also bought and sold shares of EQT stock. NEIRG Wealth Management LLC raised its position by 1.3%, Geneos Wealth Management Inc. raised its position by 15.6%, Accel Wealth Management raised its position by 19.6%, Annandale Capital LLC raised its position by 5.7%, and Captrust Financial Advisors raised its position by 3.2%.
Analysts have recently weighed in on EQT stock. UBS Group raised their target price to $51.00 with a “neutral” rating, Tudor Pickering raised EQT from a “hold” rating to a “buy” rating, Jefferies Financial Group raised their target price to $49.00, and Truist Financial lifted their price target to $35.00 with a “hold” rating. Overall, EQT currently has a consensus rating of “Moderate Buy” and an average price target of $49.71.
In related news, CAO Todd James sold 31,170 shares of EQT stock at an average price of $38.56, bringing the total value of the sale to $1,201,915.20. Following the sale, the chief accounting officer now owns 39,392 shares in the company.
EQT stock opened at $43.40 on Wednesday, with a 50-day moving average of $40.87 and a two-hundred-day moving average of $35.77. EQT Co. has a market capitalization of $15.70 billion, a P/E ratio of 4.88, and a beta of 1.22.
In its most recent quarterly earnings report, EQT reported earnings per share of ($0.17), beating analysts’ consensus estimates of ($0.26) by $0.09. The company had a return on equity of 10.61% and a net margin of 38.44%. While the company’s revenue for the quarter was down 38.4% compared to the same quarter last year, it still amounted to $993.08 million.
EQT recently declared a quarterly dividend of $0.15 per share, which will be paid on September 1st. The ex-dividend date is August 8th.
EQT Corporation operates as a natural gas production company in the United States, with 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves.
Sources:
– SEC filing
– MarketBeat article
Source: claytoncountyregister.com
