EQT (NYSE:EQT) Releases Quarterly Earnings Results, Beats Expectations By $0.12 EPS

EQT (NYSE:EQT) released its quarterly earnings results on Tuesday. The oil and gas producer reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.12, Briefing.com reports. EQT had a net margin of 12.45% and a return on equity of 4.55%. The business had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the firm earned ($0.17) earnings per share. EQT’s revenue was down 6.5% compared to the same quarter last year.

EQT Stock Up 0.6 %

Shares of NYSE:EQT traded up $0.21 during midday trading on Thursday, reaching $35.31. 4,333,861 shares of the company were exchanged, compared to its average volume of 7,089,871. EQT has a fifty-two week low of $32.07 and a fifty-two week high of $45.23. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $38.58 and a two-hundred day simple moving average of $37.34. The firm has a market cap of $15.59 billion, a PE ratio of 25.43 and a beta of 1.12.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.78%. EQT’s payout ratio is 45.65%.

Insider Buying and Selling

In other EQT news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now directly owns 456,837 shares in the company, valued at approximately $18,602,402.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other EQT news, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the sale, the insider now directly owns 160,884 shares in the company, valued at approximately $6,642,900.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the completion of the sale, the executive vice president now owns 456,837 shares in the company, valued at $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EQT shares. BMO Capital Markets raised their price objective on shares of EQT from $40.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. Sanford C. Bernstein raised shares of EQT from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $27.00 to $34.00 in a research note on Wednesday, April 10th. Morgan Stanley raised their price objective on shares of EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Truist Financial reduced their price objective on shares of EQT from $36.00 to $32.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Stephens reduced their price target on shares of EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $45.50.

EQT Company 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.