E Fund Management Hong Kong Co. Ltd. Buys New Position in EQT Co. (NYSE:EQT)

E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of EQT Co. (NYSE:EQT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,530 shares of the oil and gas producer’s stock, valued at approximately $71,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. HM Payson & Co. acquired a new stake in EQT during the third quarter worth approximately $25,000. Truvestments Capital LLC purchased a new position in shares of EQT during the 3rd quarter worth $30,000. Hexagon Capital Partners LLC lifted its stake in shares of EQT by 18,080.0% during the 3rd 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. Quarry LP boosted its holdings in shares of EQT by 184.7% during 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 during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in EQT in the third quarter valued at $36,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Up 0.4 %

Shares of NYSE:EQT opened at $53.78 on Monday. The company has a 50 day moving average of $46.84 and a two-hundred day moving average of $39.37. EQT Co. has a 52-week low of $30.02 and a 52-week high of $54.85. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $32.09 billion, a price-to-earnings ratio of 64.03 and a beta of 1.12.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm had revenue of $1.28 billion for 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 firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 EPS. As a group, analysts forecast that EQT Co. will post 1.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Citigroup lifted their price target on EQT from $44.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 6th. Jefferies Financial Group boosted their target price on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a report on Friday, January 3rd. BMO Capital Markets increased their price target on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $55.00 to $54.00 in a research note on Friday, January 17th. Finally, Piper Sandler increased their target price on EQT from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.89.

Insider Buying and Selling

In other EQT news, Director Thomas F. Karam sold 30,154 shares of EQT 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 directly owns 201,608 shares in the company, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.63% of the company’s stock.

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.