EQT Corporation Target of Unusually Large Options Trading (NYSE:EQT) – The Cerbat Gem

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EQT Corporation (NYSE:EQT) was the target of unusually large options trading activity on Friday. Traders purchased 11,612 call options on the stock. This represents an increase of approximately 555% compared to the average volume of 1,774 call options.

EQT Corporation (NYSE:EQT) opened at 61.70 on Friday. EQT Corporation has a 1-year low of $49.63 and a 1-year high of $78.84. The firm has a 50-day moving average of $56.01 and a 200-day moving average of $60.47. The stock’s market capitalization is $10.69 billion.

EQT Corporation (NYSE:EQT) last released its quarterly earnings data on Thursday, April 27th. The oil and gas producer reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $897.50 million for the quarter, compared to the consensus estimate of $713.65 million. EQT Corporation had a negative net margin of 15.03% and a positive return on equity of 0.18%. The firm’s revenue for the quarter was up 64.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 earnings per share. Equities analysts expect that EQT Corporation will post $1.21 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.12 dividend on an annualized basis and a yield of 0.19%. EQT Corporation’s dividend payout ratio is currently -6.82%.

In other news, Director A. Bray Jr. Cary purchased 28,000 shares of EQT Corporation stock in a transaction that occurred on Friday, June 23rd. The shares were acquired at an average price of $53.55 per share, for a total transaction of $1,499,400.00. Following the transaction, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,211,675.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven T. Schlotterbeck purchased 2,000 shares of EQT Corporation stock in a transaction that occurred on Thursday, June 22nd. The shares were purchased at an average price of $52.14 per share, for a total transaction of $104,280.00. Following the transaction, the chief executive officer now directly owns 115,178 shares in the company, valued at approximately $6,005,380.92. The disclosure for this purchase can be found here. Insiders have purchased a total of 41,901 shares of company stock worth $2,211,775 in the last quarter. 1.00% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. South Dakota Investment Council bought a new stake in shares of EQT Corporation during the first quarter worth about $354,000. Knights of Columbus Asset Advisors LLC bought a new stake in shares of EQT Corporation during the first quarter worth about $760,000. BlackRock Inc. increased its stake in shares of EQT Corporation by 3,346.4% in the first quarter. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer’s stock worth $832,575,000 after buying an additional 13,231,032 shares during the last quarter. Twin Capital Management Inc. bought a new stake in shares of EQT Corporation during the first quarter worth about $2,598,000. Finally, Swiss National Bank increased its stake in shares of EQT Corporation by 21.4% in the first quarter. Swiss National Bank now owns 805,236 shares of the oil and gas producer’s stock worth $49,200,000 after buying an additional 141,800 shares during the last quarter. Institutional investors and hedge funds own 90.54% of the company’s stock.

Several analysts recently issued reports on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $69.00 price target on shares of EQT Corporation in a research report on Thursday, April 6th. Royal Bank Of Canada lowered shares of EQT Corporation from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $86.00 to $80.00 in a research report on Wednesday, July 5th. Stifel Nicolaus reiterated a “buy” rating and set a $81.00 price target (up previously from $63.00) on shares of EQT Corporation in a research report on Tuesday, May 2nd. Scotiabank set a $84.00 target price on shares of EQT Corporation and gave the company a “hold” rating in a research report on Monday, March 20th. Finally, BidaskClub upgraded shares of EQT Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $80.14.

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EQT Corporation Company Profile

EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.

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