EQT Co. (NYSE:EQT) Sees Significant Increase in Short Interest

EQT Co. (NYSE:EQT) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 22,540,000 shares, a growth of 15.8% from the October 31st total of 19,470,000 shares. Based on an average trading volume of 7,210,000 shares, the days-to-cover ratio is presently 3.1 days.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Truist Financial raised their target price on EQT from $32.00 to $41.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Stephens increased their target price on shares of EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. UBS Group lifted their price target on shares of EQT from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Bank of America began coverage on EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price objective for the company. Finally, Piper Sandler boosted their target price on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.67.

Institutional Trading of EQT

Several large investors have recently modified their holdings of the business. HM Payson & Co. bought a new position in EQT in the third quarter worth about $25,000. Innealta Capital LLC purchased a new position in shares of EQT in the 2nd quarter valued at approximately $28,000. Truvestments Capital LLC bought a new stake in shares of EQT during the third quarter valued at approximately $30,000. Hexagon Capital Partners LLC grew its stake 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 worth $33,000 after purchasing an additional 904 shares during the period. Finally, Quarry LP raised its holdings 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 purchasing an additional 578 shares in the last quarter. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

NYSE:EQT traded up $0.16 during mid-day trading on Friday, reaching $45.44. The stock had a trading volume of 2,469,060 shares, compared to its average volume of 8,501,654. EQT has a one year low of $30.02 and a one year high of $48.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a 50 day moving average price of $39.35 and a two-hundred day moving average price of $37.15. The stock has a market capitalization of $27.11 billion, a P/E ratio of 54.10 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. As a group, analysts expect that EQT will post 1.36 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is presently 75.00%.

About EQT

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.