Veracity Capital LLC Buys New Position in EQT Co. (NYSE:EQT)

Veracity Capital LLC purchased a new position in EQT Co. (NYSE:EQT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,859 shares of the oil and gas producer’s stock, valued at approximately $823,000.

Several other institutional investors have also added to or reduced their stakes in the business. Bill Few Associates Inc. acquired a new stake in EQT in the 4th quarter worth approximately $247,000. Janney Montgomery Scott LLC lifted its stake in shares of EQT by 8.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 234,183 shares of the oil and gas producer’s stock worth $10,798,000 after buying an additional 19,025 shares during the period. Daymark Wealth Partners LLC grew its holdings in shares of EQT by 12.4% during the fourth quarter. Daymark Wealth Partners LLC now owns 31,072 shares of the oil and gas producer’s stock valued at $1,433,000 after buying an additional 3,417 shares during the last quarter. Viking Fund Management LLC increased its position in shares of EQT by 120.0% in the 4th quarter. Viking Fund Management LLC now owns 110,000 shares of the oil and gas producer’s stock valued at $5,072,000 after acquiring an additional 60,000 shares during the period. Finally, Bourgeon Capital Management LLC purchased a new position in EQT in the 4th quarter worth $9,602,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Trading Up 0.3 %

Shares of EQT stock opened at $53.56 on Friday. The stock has a 50 day simple moving average of $46.40 and a 200-day simple moving average of $39.13. EQT Co. has a 1-year low of $30.02 and a 1-year high of $54.85. The company has a market cap of $31.96 billion, a price-to-earnings ratio of 63.76 and a beta of 1.12. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.51 and a quick ratio of 0.51.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. On average, equities research analysts expect that EQT Co. will post 1.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EQT. Piper Sandler increased their price objective on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, November 4th. BMO Capital Markets raised their price target on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. StockNews.com upgraded shares of EQT to a “sell” rating in a research note on Monday, December 30th. Morgan Stanley increased their price objective on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, Truist Financial boosted their target price on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, EQT currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

Insider Buying and Selling

In other news, Director Thomas F. Karam sold 30,154 shares of the firm’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 value of $1,351,803.82. Following the transaction, the director now owns 201,608 shares in the company, valued at $9,038,086.64. This trade represents a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.63% of the stock is currently owned by insiders.

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.