Calamos Advisors LLC Acquires New Shares in EQT Co. (NYSE:EQT)

Calamos Advisors LLC bought a new position in EQT Co. (NYSE:EQT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 219,688 shares of the oil and gas producer’s stock, valued at approximately $10,130,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in EQT by 38.7% in the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock valued at $2,716,968,000 after acquiring an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC bought a new position in shares of EQT during the 3rd quarter valued at $562,494,000. State Street Corp lifted its stake in shares of EQT by 24.5% in the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC boosted its holdings in EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after purchasing an additional 3,582,418 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in EQT during the third quarter worth $97,979,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Thomas F. Karam sold 30,154 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 201,608 shares in the company, valued at approximately $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is owned by company insiders.

EQT Price Performance

Shares of EQT stock opened at $52.15 on Wednesday. The company has a market capitalization of $31.12 billion, a P/E ratio of 62.09, a P/E/G ratio of 0.62 and a beta of 1.08. 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 Co. has a 12 month low of $30.02 and a 12 month high of $54.85. The stock has a 50 day moving average of $47.44 and a two-hundred day moving average of $39.99.

Analyst Upgrades and Downgrades

EQT has been the subject of several recent analyst reports. Sanford C. Bernstein upgraded EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a research note on Wednesday, January 15th. Piper Sandler upped their target price on EQT from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 29th. Bank of America assumed coverage on shares of EQT in a research report on Monday, October 28th. They issued a “buy” rating and a $50.00 price target on the stock. Citigroup upped their price objective on shares of EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Stephens lifted their target price on shares of EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $49.94.

EQT 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.