The most recent Form 13F filing that Cannon Global Investment Management LLC submitted to the Securities and Exchange Commission revealed that the company’s holdings of EQT Co. (NYSE: EQT) increased during the third quarter. Cannon Global Investment Management LLC provided this information. The investment fund purchased a total of 107,822 shares in the oil and gas company at approximately $4,394,000. EQT is the fifth-largest holding for Cannon Global Investment Management LLC, accounting for approximately 7.1% of the company’s overall portfolio.
In addition, several institutional investors and other hedge funds have modified the percentage of their investments that they have allocated to the company. During the second quarter of the fiscal year, Kathleen S. Wright Associates Inc. made a new investment in EQT, equaling $32,000, to acquire a stake in the company. Alta Advisers Ltd. made a new investment of approximately $45,000 in EQT during the third quarter of the fiscal year. During the third quarter, Allworth Financial LP achieved a 92.2% increase in the proportion of EQT stock it owned. Allworth Financial LP now has a total of 1,261 shares of the oil and gas company, which has a market capitalization of $51,000, following the purchase of an additional 1,138 shares during the period. First Command Bank purchased a new position in EQT during the second quarter at approximately $46,000. And finally, during the first three months of the fiscal year, Penserra Capital Management LLC made a new investment in EQT worth $47,000. This transaction took place during the first quarter. Most of the company’s stock, or 97.60%, is held by institutional investors and hedge funds instead of individual shareholders.
The NYSE: EQT closed trading on Wednesday at $34.89.This is a decrease of $0.30 from where it had been the day before. The typical trading volume of the company’s stock is 7,352,873 shares, so the number of traded shares was significantly lower than that. There were only 19,076 shares of the company’s stock that were traded. 0.59 is the value reached when the current ratio, the quick ratio, and the debt-to-equity ratio are all added up. The ratio of debt to equity is 0.45 right now. The stock’s simple moving average over the past 50 days is $37.79, and its simple moving average over the past 200 days is $41.11. The price of EQT Co. has ranged from $19.20 to $51.97 over the previous 52 weeks, with an average price of $51.97. The stock has a price-to-earnings ratio of 7.79, a price-to-earnings-to-growth ratio of 0.07, and a beta value of 1.21. It is estimated to be worth 12.81 billion dollars in total.
On October 26, EQT (NYSE: EQT) announced that it would release its most recent quarterly results report. The oil and gas company announced earnings of $1.04 per share for the quarter, which is $0.05 higher than the average estimated $0.99 per share made by analysts in the industry. The analysts’ range of estimates for the company’s quarterly sales was from $1.74 billion to $1.66 billion, with the average estimate falling in the middle. Sell-side analysts forecast that EQT Company will bring in $3.98 per share earnings during the current financial year.
In addition, on December 1, the company announced and distributed a quarterly dividend, which was then paid to shareholders. This dividend was paid out to shareholders. On Wednesday, November 9, shareholders who recorded holders received dividend payments of $0.15 per share. These payments were sent out. This results in a dividend yield of 1.72%, equating to a monthly payment of $0.60 when calculated annually. On November 8, a Tuesday, the dividend was disbursed to shareholders. This event took place. The percentage of dividends distributed by EQT comes in at 13.27%.
Numerous academic investigations have been conducted with EQT as the focus of their attention. Credit Suisse Group stated their decision to reduce their price objective on EQT in a research note published on November 1. They stated that the new price objective would be $600,000.00. The Royal Bank of Canada lowered its price target on EQT from $57.00 to $55.00 in a research note published on Friday, October 28. Despite this modification, the financial institution has maintained an “outperform” rating for the stock. In a research note distributed on November 30, Tudor Pickering decided to alter the recommendation they had previously given to EQT, which was a “buy” rating, to a “hold” rating instead. On October 19, Jefferies Financial Group published a research note on the company’s website announcing that it would begin providing coverage of EQT. They gave the stock a “buy” rating and set a price objective of $57.0 for the shares of the company’s stock. Citigroup lowered their price target for EQT shares from $60.00 to $40.00 and changed their rating on the stock from “buy” to “neutral” in a research note published on Wednesday, December 7. The stock has been assigned a “hold” rating by four research analysts, while a “buy” rating has been assigned by sixteen other analysts. According to the data provided by Bloomberg, the current consensus rating for EQT is “Moderate Buy,” and it is anticipated that the company will reach an average price goal of $58.41 shortly.
Additionally, on November 9, Executive Vice President William E. Jordan sold 98,783 shares of company stock. This information is related to the previous paragraph. The price that was ultimately settled on for each share was $41.55, and a total of $4,104,433 worth of stock was bought and sold. Following the successful conclusion of the transaction, the executive vice president is now the direct owner of 297,787 shares of the company. These shares have a value of approximately $12,373,049.85. The Securities and Exchange Commission was given legal documents about the transaction, which were subsequently uploaded to the SEC website after being provided to the SEC. Insiders own the total number of shares currently outstanding in the company to the extent of 0.48 percent.