Stock News Spotlight: EQT Corporation (NYSE:EQT)

EQT Corporation (NYSE:EQT) stock identified change of 283.85% away from 52-week low price and recently located move of -10.05% off 52-week high price. It has market worth of $4.04B. EQT stock has been recorded 8.28% away from 50 day moving average and 34.93% away from 200 day moving average. Moving closer, we can see that shares have been trading 11.81% off 20-day moving average.

On Oct. 27, 2020, EQT Corporation (NYSE:EQT) released that it has priced a public offering of 20,000,000 shares of its common stock at a price to the public of $15.50 per share (the Offering). The Company has granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of its common stock.

The Company intends to use the net proceeds from the Offering to partially fund the purchase price of the Company’s recently announced acquisition of certain upstream and midstream assets located in the Appalachian Basin from Chevron U.S.A. Inc. (the Chevron Acquisition). The consummation of the Offering is not conditioned upon the completion of the Chevron Acquisition and the consummation of the Offering is not a condition to the completion of the Chevron Acquisition. If the Chevron Acquisition is not consummated, the Company intends to use the net proceeds of the Offering to repay or redeem outstanding indebtedness, including those with near-term maturities, and for general corporate purposes.

The Energy sector company, EQT Corporation noticed change of 3.39% to $16.16 along volume of 5453943 shares in recent session compared to an average volume of 4.21M. The stock observed return of 7.52% in 5 days trading activity. The stock was at 15.51% over one month performance. EQT’s shares are at 11.53% for the quarter and driving a 71.55% return over the course of the past year and is now at 48.26% since this point in 2018.

The average volatility for the week at 7.98% and for month was at 5.79%. There are 255.59M shares outstanding and 252.65M shares are floated in market. Right now the stock beta is 1.59.

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