Whalen Wealth Management Inc. Decreases Stock Position in EQT Co. (NYSE:EQT)

Whalen Wealth Management Inc. trimmed its holdings in EQT Co. (NYSE:EQT) by 63.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 10,496 shares of the oil and gas producer’s stock after selling 18,200 shares during the period. Whalen Wealth Management Inc.’s holdings in EQT were worth $484,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in EQT by 38.7% during the third quarter. Wellington Management Group LLP now owns 74,153,050 shares of the oil and gas producer’s stock worth $2,716,968,000 after acquiring an additional 20,700,921 shares during the last quarter. Modera Wealth Management LLC purchased a new position in shares of EQT during the 3rd quarter worth $562,494,000. State Street Corp boosted its holdings in shares of EQT by 24.5% during the third quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock worth $1,359,183,000 after purchasing an additional 7,290,822 shares during the last quarter. Geode Capital Management LLC grew its position in shares of EQT by 34.4% in the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock valued at $511,159,000 after purchasing an additional 3,582,418 shares during the period. Finally, Holocene Advisors LP acquired a new position in EQT in the third quarter valued at $97,979,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Down 0.1 %

Shares of EQT stock opened at $53.39 on Thursday. 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 firm has a market cap of $31.86 billion, a P/E ratio of 63.57 and a beta of 1.12. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $54.85. The business has a 50-day moving average price of $46.40 and a 200 day moving average price of $39.13.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.06. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. EQT’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share. On average, sell-side analysts forecast that EQT Co. will post 1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EQT shares. Morgan Stanley raised their target price on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Wells Fargo & Company upped their price objective on EQT from $52.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Jefferies Financial Group increased their target price on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. StockNews.com raised EQT to a “sell” rating in a research report on Monday, December 30th. Finally, JPMorgan Chase & Co. raised their price objective on EQT from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, EQT has an average rating of “Moderate Buy” and an average price target of $49.89.

Insiders Place Their Bets

In other news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total transaction of $1,351,803.82. Following the completion of the transaction, the director now directly owns 201,608 shares in the company, valued at approximately $9,038,086.64. The trade was a 13.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.63% of the stock is owned by corporate insiders.

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.