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EQT Corp. (EQT) Announces Pricing of Secondary Stock Offering
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EQT Corporation (EQT - Free Report) announced the pricing of 10,973,685 shares of its common stock.
The gross proceeds from the underwritten public offering of the stocks by certain shareholders are roughly $231.5 million, stated EQT Corp. The underwriters have been granted a 30-day option by the selling shareholders to purchase up to an additional 1,646,051 shares of common stock of EQT Corp.
The selling shareholders are those stockholders that have obtained those shares following the acquisition of upstream and midstream subsidiaries of Alta Resources Development, LLC by EQT Corp. Since the shares are being offered by selling shareholders, EQT will not receive any of the proceeds.
Currently, the business scenario seems bright for EQT Corp. Being a leading natural gas producer with a strong presence in prolific Marcellus and Utica shale plays in the Appalachian Basin, EQT is well poised to capitalize on mounting clean energy demand.
EQT currently carries a Zacks Rank #3 (Hold). Meanwhile, some better-ranked players in the energy space include Whiting Petroleum Corporation , Continental Resources, Inc. and Callon Petroleum Company . While Continental Resources carries a Zacks Rank #2 (Buy), Whiting Petroleum and Callon Petroleum sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum is a leading upstream energy company and is the top producer of crude oil in North Dakota. With oil price improving at a healthy pace, Whiting Petroleum is expected to continue generating handsome cash flows while maintaining a healthy balance sheet.
Headquartered in Denver, CO, Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, WLL has gained 176.7% year to date, outpacing the 106.1% improvement of the composite stocks belonging to the industry.
Continental Resources is also a leading upstream energy company having proven reserves in North Dakota and Oklahoma. The oil inventories of Continental Resources are among the best in the industry.
Headquartered in Oklahoma City, Continental Resources has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Considering the price chart, CLR has gained 189.9% so far this year, outpacing the 106.1% improvement of the composite stocks belonging to the industry.
Callon Petroleum is also a leading exploration and production company with a strong presence in prolific unconventional resources that comprise Permian Basin and Eagle Ford Shale play.
CPE has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, Callon Petroleum has gained 339.1% year to date, outpacing the 106.1% improvement of the composite stocks belonging to the industry.
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EQT Corp. (EQT) Announces Pricing of Secondary Stock Offering
EQT Corporation (EQT - Free Report) announced the pricing of 10,973,685 shares of its common stock.
The gross proceeds from the underwritten public offering of the stocks by certain shareholders are roughly $231.5 million, stated EQT Corp. The underwriters have been granted a 30-day option by the selling shareholders to purchase up to an additional 1,646,051 shares of common stock of EQT Corp.
The selling shareholders are those stockholders that have obtained those shares following the acquisition of upstream and midstream subsidiaries of Alta Resources Development, LLC by EQT Corp. Since the shares are being offered by selling shareholders, EQT will not receive any of the proceeds.
Currently, the business scenario seems bright for EQT Corp. Being a leading natural gas producer with a strong presence in prolific Marcellus and Utica shale plays in the Appalachian Basin, EQT is well poised to capitalize on mounting clean energy demand.
EQT Corporation Price
EQT Corporation price | EQT Corporation Quote
EQT currently carries a Zacks Rank #3 (Hold). Meanwhile, some better-ranked players in the energy space include Whiting Petroleum Corporation , Continental Resources, Inc. and Callon Petroleum Company . While Continental Resources carries a Zacks Rank #2 (Buy), Whiting Petroleum and Callon Petroleum sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Whiting Petroleum is a leading upstream energy company and is the top producer of crude oil in North Dakota. With oil price improving at a healthy pace, Whiting Petroleum is expected to continue generating handsome cash flows while maintaining a healthy balance sheet.
Headquartered in Denver, CO, Whiting Petroleum has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, WLL has gained 176.7% year to date, outpacing the 106.1% improvement of the composite stocks belonging to the industry.
Continental Resources is also a leading upstream energy company having proven reserves in North Dakota and Oklahoma. The oil inventories of Continental Resources are among the best in the industry.
Headquartered in Oklahoma City, Continental Resources has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Considering the price chart, CLR has gained 189.9% so far this year, outpacing the 106.1% improvement of the composite stocks belonging to the industry.
Callon Petroleum is also a leading exploration and production company with a strong presence in prolific unconventional resources that comprise Permian Basin and Eagle Ford Shale play.
CPE has witnessed upward earnings estimate revisions for 2021 in the past 30 days. Looking at the price chart, Callon Petroleum has gained 339.1% year to date, outpacing the 106.1% improvement of the composite stocks belonging to the industry.