EQT Co. (EQT) Short Interest Up 40.7% in November

EQT Co. (NYSE:EQT) saw a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 20,282,093 shares, a growth of 40.7% from the October 31st total of 14,413,433 shares. Currently, 8.0% of the shares of the company are sold short. Based on an average daily trading volume, of 16,268,502 shares, the days-to-cover ratio is currently 1.2 days.

EQT has been the topic of a number of research analyst reports. Morgan Stanley cut their price target on shares of EQT from $54.00 to $45.00 and set a “hold” rating on the stock in a report on Wednesday, September 26th. Jefferies Financial Group set a $39.00 price objective on shares of EQT and gave the company a “hold” rating in a report on Sunday, October 28th. Royal Bank of Canada set a $53.00 price objective on shares of EQT and gave the company a “buy” rating in a report on Saturday, October 27th. Goldman Sachs Group raised shares of EQT from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, November 20th. Finally, Zacks Investment Research reaffirmed a “buy” rating and set a $35.00 price objective on shares of EQT in a report on Tuesday, November 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $41.00.

In related news, insider Robert Joseph Mcnally purchased 15,800 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were bought at an average cost of $34.16 per share, with a total value of $539,728.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Philip G. Behrman purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 16th. The stock was bought at an average cost of $16.51 per share, for a total transaction of $330,200.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $330,200. The disclosure for this purchase can be found here. Insiders purchased a total of 94,269 shares of company stock worth $2,311,332 over the last three months. 0.68% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtus Alternative Investment Advisers Inc. bought a new stake in shares of EQT during the third quarter valued at about $133,000. Cerebellum GP LLC increased its position in shares of EQT by 71.4% during the third quarter. Cerebellum GP LLC now owns 3,488 shares of the oil and gas producer’s stock valued at $154,000 after buying an additional 1,453 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of EQT during the second quarter valued at about $163,000. Dupont Capital Management Corp increased its position in shares of EQT by 48.7% during the second quarter. Dupont Capital Management Corp now owns 3,876 shares of the oil and gas producer’s stock valued at $214,000 after buying an additional 1,270 shares during the period. Finally, MML Investors Services LLC bought a new stake in shares of EQT during the third quarter valued at about $218,000. Hedge funds and other institutional investors own 93.86% of the company’s stock.

NYSE EQT opened at $18.71 on Monday. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 12.73, a price-to-earnings-growth ratio of 0.52 and a beta of 0.91. EQT has a 52 week low of $16.29 and a 52 week high of $60.35. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.48.

EQT (NYSE:EQT) last released its quarterly earnings data on Thursday, October 25th. The oil and gas producer reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. EQT had a negative net margin of 6.86% and a positive return on equity of 3.77%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm earned $0.12 earnings per share. On average, analysts anticipate that EQT will post 2.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Tuesday, November 20th. EQT’s dividend payout ratio is presently 8.16%.

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About EQT

EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.

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