Phocas Financial Corp. Purchases New Holdings in EQT Co. (NYSE:EQT)

Phocas Financial Corp. acquired a new position in shares of EQT Co. (NYSE:EQT) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 31,965 shares of the oil and gas producer’s stock, valued at approximately $1,171,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avantax Advisory Services Inc. lifted its position in shares of EQT by 19.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,284 shares of the oil and gas producer’s stock worth $270,000 after buying an additional 1,172 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of EQT by 563.1% in the 1st quarter. UniSuper Management Pty Ltd now owns 29,102 shares of the oil and gas producer’s stock valued at $1,079,000 after purchasing an additional 24,713 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of EQT by 47.3% in the 1st quarter. Bessemer Group Inc. now owns 44,518 shares of the oil and gas producer’s stock valued at $1,650,000 after purchasing an additional 14,301 shares in the last quarter. MQS Management LLC bought a new stake in shares of EQT during the 1st quarter valued at approximately $232,000. Finally, EntryPoint Capital LLC acquired a new position in EQT during the 1st quarter worth approximately $54,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Price Performance

EQT stock opened at $44.08 on Wednesday. The stock has a market cap of $26.30 billion, a P/E ratio of 52.48 and a beta of 1.06. 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’s 50 day moving average price is $37.16 and its two-hundred day moving average price is $36.81. EQT Co. has a 52 week low of $30.02 and a 52 week high of $44.62.

EQT (NYSE:EQT) last issued its quarterly earnings results 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 business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. EQT’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. On average, equities analysts predict that EQT Co. will post 1.28 earnings per share for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.43%. EQT’s payout ratio is presently 75.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EQT shares. Morgan Stanley reiterated an “overweight” rating and issued a $45.00 price target on shares of EQT in a research note on Friday, September 13th. Piper Sandler lifted their price target on EQT from $32.00 to $34.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. Citigroup upgraded shares of EQT from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $44.00 in a research report on Thursday, October 3rd. Finally, Mizuho upped their price target on shares of EQT from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

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.