EQT Co. (NYSE:EQT – Get Free Report) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 22,310,000 shares, an increase of 10.7% from the December 15th total of 20,160,000 shares. Based on an average trading volume of 5,370,000 shares, the short-interest ratio is currently 4.2 days.
Hedge Funds Weigh In On EQT
A number of institutional investors have recently added to or reduced their stakes in EQT. Capital World Investors acquired a new position in EQT in the 1st quarter worth $497,156,000. Wellington Management Group LLP increased its position in shares of EQT by 61.9% in the 3rd quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock worth $798,923,000 after purchasing an additional 7,526,875 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of EQT by 6,029.6% in the 1st quarter. Renaissance Technologies LLC now owns 6,424,264 shares of the oil and gas producer’s stock worth $221,059,000 after purchasing an additional 6,319,457 shares during the last quarter. PointState Capital LP bought a new stake in shares of EQT in the 1st quarter worth about $163,646,000. Finally, Clearbridge Investments LLC increased its position in shares of EQT by 66.1% in the 1st quarter. Clearbridge Investments LLC now owns 11,115,761 shares of the oil and gas producer’s stock worth $382,493,000 after purchasing an additional 4,423,003 shares during the last quarter. Institutional investors and hedge funds own 99.44% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on EQT shares. Morgan Stanley lifted their price target on shares of EQT from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, November 29th. Bank of America raised their price objective on shares of EQT from $60.00 to $62.00 in a research note on Wednesday, September 27th. Truist Financial reissued a “hold” rating and set a $39.00 price objective on shares of EQT in a research note on Tuesday, September 19th. Sanford C. Bernstein initiated coverage on shares of EQT in a research note on Tuesday, October 10th. They set an “underperform” rating and a $30.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on shares of EQT from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.93.
EQT Stock Up 2.1 %
Shares of EQT opened at $37.82 on Monday. The firm has a market cap of $15.56 billion, a PE ratio of 5.11, a price-to-earnings-growth ratio of 0.74 and a beta of 1.09. The company’s fifty day moving average is $39.03 and its two-hundred day moving average is $40.78. EQT has a fifty-two week low of $28.10 and a fifty-two week high of $45.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.39.
EQT (NYSE:EQT – Get Free Report) last posted its earnings results on Wednesday, October 25th. The oil and gas producer reported $0.30 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.42. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.15 billion. EQT had a net margin of 35.29% and a return on equity of 7.25%. The business’s quarterly revenue was down 42.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.04 EPS. Analysts forecast that EQT will post 2.31 earnings per share for the current year.
About EQT
EQT Corporation operates as a natural gas production company in the United States. As of December 31, 2022, it had 25.0 trillion cubic feet of proved natural gas, natural gas liquids, and crude oil reserves across approximately 2.0 million gross acres, including 1.8 million gross acres in the Marcellus play.