Adams Natural Resources Fund Inc. Raises Stake in EQT Co. (NYSE:EQT)

Adams Natural Resources Fund Inc. boosted its holdings in EQT Co. (NYSE:EQT) by 63.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,300 shares of the oil and gas producer’s stock after purchasing an additional 34,700 shares during the quarter. Adams Natural Resources Fund Inc.’s holdings in EQT were worth $4,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Sanctuary Advisors LLC increased its position in shares of EQT by 104.7% in the third quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after acquiring an additional 32,484 shares in the last quarter. Retirement Systems of Alabama increased its holdings in EQT by 36.7% in the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock valued at $4,878,000 after buying an additional 35,733 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in EQT by 44.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock worth $2,379,000 after purchasing an additional 16,416 shares during the last quarter. FMR LLC lifted its position in shares of EQT by 2.5% in the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock worth $41,520,000 after buying an additional 28,129 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in EQT by 13.4% in the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after acquiring an additional 762 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Trading Down 1.6 %

Shares of EQT opened at $52.89 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a market cap of $31.60 billion, a PE ratio of 132.23, a PEG ratio of 0.64 and a beta of 1.12. EQT Co. has a 1 year low of $30.02 and a 1 year high of $56.66. The stock has a 50 day simple moving average of $51.25 and a 200-day simple moving average of $44.12.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.19. EQT had a return on equity of 4.35% and a net margin of 4.37%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. On average, sell-side analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.1575 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.63 annualized dividend and a dividend yield of 1.19%. EQT’s dividend payout ratio (DPR) is currently 157.50%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EQT shares. Truist Financial boosted their price objective on EQT from $41.00 to $56.00 and gave the stock a “hold” rating in a research report on Monday, January 13th. Citigroup raised their target price on EQT from $51.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, March 17th. StockNews.com upgraded shares of EQT from a “sell” rating to a “hold” rating in a research report on Friday, March 14th. Wells Fargo & Company raised their price objective on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, UBS Group boosted their target price on shares of EQT from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

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.