SG Americas Securities LLC Trims Position in EQT Co. (NYSE:EQT)

SG Americas Securities LLC cut its holdings in shares of EQT Co. (NYSE:EQT) by 79.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,018 shares of the oil and gas producer’s stock after selling 27,511 shares during the quarter. SG Americas Securities LLC’s holdings in EQT were worth $324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted 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 valued at $2,716,968,000 after purchasing an additional 20,700,921 shares during the period. State Street Corp raised its stake in shares of EQT by 24.5% during the 3rd quarter. State Street Corp now owns 37,095,597 shares of the oil and gas producer’s stock valued at $1,359,183,000 after buying an additional 7,290,822 shares during the last quarter. Modera Wealth Management LLC acquired a new position in shares of EQT in the 3rd quarter valued at about $562,494,000. Geode Capital Management LLC grew its holdings in EQT by 34.4% during the third quarter. Geode Capital Management LLC now owns 13,997,574 shares of the oil and gas producer’s stock worth $511,159,000 after acquiring an additional 3,582,418 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in EQT by 28.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,013,058 shares of the oil and gas producer’s stock worth $183,678,000 after acquiring an additional 1,108,134 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Performance

NYSE:EQT opened at $52.15 on Wednesday. The company has a market cap of $31.12 billion, a P/E ratio of 62.09, a P/E/G ratio of 0.62 and a beta of 1.08. EQT Co. has a twelve month low of $30.02 and a twelve month high of $54.85. The company’s 50-day moving average price is $47.44 and its 200-day moving average price is $39.99. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65.

Wall Street Analyst Weigh In

EQT has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Bank of America began coverage on shares of EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. Citigroup raised their price target on shares of EQT from $44.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Truist Financial lifted their price objective on shares of EQT from $41.00 to $56.00 and gave the company a “hold” rating in a report on Monday, January 13th. Finally, Morgan Stanley increased their target price on shares of EQT from $45.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. One equities 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.94.

Insider Buying and Selling at EQT

In other EQT news, Director Thomas F. Karam sold 30,154 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $44.83, for a total value of $1,351,803.82. Following the completion of the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. This represents a 13.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.63% of the stock is owned by insiders.

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.