Whalen Wealth Management Inc. Cuts Stock Holdings in EQT Co. (NYSE:EQT)

Whalen Wealth Management Inc. cut its stake in EQT Co. (NYSE:EQT) by 63.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,496 shares of the oil and gas producer’s stock after selling 18,200 shares during the period. Whalen Wealth Management Inc.’s holdings in EQT were worth $484,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EQT. HM Payson & Co. purchased a new position in shares of EQT in the 3rd quarter valued at about $25,000. Truvestments Capital LLC acquired a new stake in EQT in the third quarter valued at approximately $30,000. Hexagon Capital Partners LLC raised its holdings in EQT by 18,080.0% in the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock valued at $33,000 after acquiring an additional 904 shares in the last quarter. Quarry LP lifted its stake in EQT by 184.7% in the third quarter. Quarry LP now owns 891 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 578 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in EQT during the 3rd quarter worth approximately $36,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EQT. JPMorgan Chase & Co. raised their price target on EQT from $50.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, January 3rd. Wells Fargo & Company raised their target price on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 8th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and upped their target price for the company from $48.00 to $57.00 in a report on Monday, December 16th. Piper Sandler lifted their price target on shares of EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, BMO Capital Markets boosted their price target on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.89.

Insider Transactions at EQT

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on 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 sale, the director now owns 201,608 shares of the company’s stock, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

EQT Price Performance

EQT stock opened at $53.39 on Thursday. The business has a 50 day simple moving average of $46.40 and a 200-day simple moving average of $39.13. EQT Co. has a 12 month low of $30.02 and a 12 month high of $54.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a market capitalization of $31.86 billion, a PE ratio of 63.57 and a beta of 1.12.

EQT (NYSE:EQT) last released its earnings results 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. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the business earned $0.30 EPS. The business’s revenue was up 8.2% on a year-over-year basis. Equities analysts predict that EQT Co. will post 1.42 earnings per share for the current year.

EQT Company 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.