SeaBridge Investment Advisors LLC Buys 23,895 Shares of EQT Co. (NYSE:EQT)

SeaBridge Investment Advisors LLC lifted its stake in shares of EQT Co. (NYSE:EQT) by 77.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 54,677 shares of the oil and gas producer’s stock after purchasing an additional 23,895 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in EQT were worth $2,521,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Waldron Private Wealth LLC increased its position in shares of EQT by 0.7% during the fourth quarter. Waldron Private Wealth LLC now owns 37,323 shares of the oil and gas producer’s stock valued at $1,721,000 after buying an additional 251 shares during the period. Caprock Group LLC increased its holdings in EQT by 25.7% during the 4th quarter. Caprock Group LLC now owns 7,663 shares of the oil and gas producer’s stock worth $353,000 after acquiring an additional 1,565 shares during the period. Cibc World Market Inc. increased its holdings in EQT by 330.1% during the 4th quarter. Cibc World Market Inc. now owns 309,494 shares of the oil and gas producer’s stock worth $14,271,000 after acquiring an additional 237,531 shares during the period. Mediolanum International Funds Ltd boosted its holdings in EQT by 140.5% in the 4th quarter. Mediolanum International Funds Ltd now owns 15,940 shares of the oil and gas producer’s stock valued at $741,000 after purchasing an additional 9,313 shares during the period. Finally, Westhampton Capital LLC purchased a new position in shares of EQT during the 4th quarter valued at $217,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Activity at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were 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 approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EQT. UBS Group lifted their price objective on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Citigroup lifted their price target on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial upped their price objective on shares of EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Mizuho upgraded shares of EQT from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $48.00 to $57.00 in a research report on Monday, December 16th. Finally, Wells Fargo & Company increased their price target on shares of EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, EQT has a consensus rating of “Moderate Buy” and a consensus target price of $49.94.

EQT Trading Down 1.2 %

NYSE EQT opened at $51.03 on Friday. The firm has a market cap of $30.45 billion, a PE ratio of 60.75, a price-to-earnings-growth ratio of 0.58 and a beta of 1.12. EQT Co. has a 1-year low of $30.02 and a 1-year high of $54.85. The stock has a 50-day moving average of $47.21 and a 200-day moving average of $39.72. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts forecast that EQT Co. will post 1.4 EPS for the current year.

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.