EQT Corp
EQT · Crude Petroleum & Natural Gas · 625.5M shares · +13%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $151M (gross $201M, SBC $50M)
Reference price $53.46 · est. market cap ~$33.4B — last insider sale, 2026-06-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B76Largest U.S. natural-gas producer with low-cost Appalachian scale, top-decile margins/FCF, but commodity-bound moderate returns.
Strengths
- Top-decile FCF margin (94.1th pct), net margin 23.6% (90.5th), and operating margin 37.6% (90.2nd) aided by integrated midstream
- Low-cost Marcellus position, low leverage (47.5th pct), and 28 Tcfe proved reserves with long-dated LNG offtake
Risks
- Returns only median (ROE 8.6%, 51.5th pct; ROA 66.2th) — commodity price-taker with impairment history
- Single-basin concentration plus ongoing PHMSA/state criminal-environmental proceedings (Rager Mountain, Pratt)
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
82.3%
Operating margin
37.6%
Net margin
23.6%
Return on equity
8.6%
Return on assets
4.9%
ROIC
8.3%
Revenue growth (QoQ)
41.5%
Net-income growth
784.4%
Debt / equity
0.3×
Net debt / EBITDA
1.2×
Current ratio
0.8×
Free cash flow
$2.8B
EBITDA
$5.9B
Tangible book value
$21.5B
Cash & investments
$111M
Stock comp / revenue
0.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-08 | Rice Toby Z. | Sell | 1.7K | $53.46 |
| 2026-06-05 | Rice Toby Z. | Sell | 86K | $54.17 |
| 2026-06-05 | Rice Toby Z. | Sell | 11K | $55.17 |
| 2026-04-27 | BAILEY VICKY A | Sell | 4.1K | $59.80 |
| 2026-04-14 | Vanderhider Hallie A. | Option exercise | 4.1K | — |
| 2026-04-14 | BAILEY VICKY A | Option exercise | 4.1K | — |
| 2026-04-14 | KARAM THOMAS F | Option exercise | 4.1K | — |
| 2026-04-14 | MCCARTNEY JOHN | Option exercise | 4.1K | — |
| 2026-04-14 | Jackson Kathryn Jean | Option exercise | 4.1K | — |
| 2026-03-16 | Fenton Sarah | Sell | 4.9K | $64.49 |
| 2026-03-12 | Bolen J.E.B. | Sell | 7.6K | $64.35 |
| 2026-03-09 | James Todd | Tax withheld | 8.4K | $62.23 |
| 2026-03-09 | Rice Toby Z. | Grant | 291K | — |
| 2026-03-09 | Rice Toby Z. | Tax withheld | 127K | $62.23 |
| 2026-03-09 | Jordan William E. | Grant | 65K | — |
| 2026-03-09 | Jordan William E. | Tax withheld | 25K | $62.23 |
| 2026-03-09 | Knop Jeremy | Grant | 33K | — |
| 2026-03-09 | Bolen J.E.B. | Grant | 8.6K | — |
| 2026-03-09 | Bolen J.E.B. | Tax withheld | 3.8K | $62.23 |
| 2026-03-09 | Fenton Sarah | Grant | 8.6K | — |
| 2026-03-09 | Fenton Sarah | Tax withheld | 3.8K | $62.23 |
| 2026-03-09 | Knop Jeremy | Tax withheld | 13K | $62.23 |
| 2026-03-09 | Evancho Lesley | Grant | 31K | — |
| 2026-03-09 | Evancho Lesley | Tax withheld | 14K | $62.23 |
| 2026-03-09 | Duran Richard A | Grant | 32K | — |
| 2026-03-09 | Duran Richard A | Tax withheld | 13K | $62.23 |
| 2026-03-09 | James Todd | Grant | 19K | — |
| 2026-03-03 | Evancho Lesley | Sell | 20K | $60.69 |
| 2026-02-27 | Knop Jeremy | Sell | 20K | $61.65 |
| 2026-02-23 | James Todd | Sell | 33K | $61.12 |
| 2026-02-20 | Fenton Sarah | Sell | 3.8K | $60.37 |
| 2026-02-17 | Knop Jeremy | Tax withheld | 3.8K | $57.75 |
| 2026-02-17 | Bolen J.E.B. | Tax withheld | 931 | $57.75 |
| 2026-02-17 | Fenton Sarah | Tax withheld | 976 | $57.75 |
| 2026-02-17 | Evancho Lesley | Tax withheld | 1.6K | $57.75 |
| 2026-02-17 | Duran Richard A | Tax withheld | 1.5K | $57.75 |
| 2026-02-17 | James Todd | Tax withheld | 1.2K | $57.75 |
| 2026-02-17 | Rice Toby Z. | Tax withheld | 15K | $57.75 |
| 2026-02-17 | Jordan William E. | Tax withheld | 2.9K | $57.75 |
| 2026-02-13 | Bolen J.E.B. | Tax withheld | 1.1K | $58.70 |
| 2026-02-13 | Bolen J.E.B. | Tax withheld | 885 | $58.70 |
| 2026-02-13 | Fenton Sarah | Tax withheld | 1.2K | $58.70 |
| 2026-02-13 | Fenton Sarah | Tax withheld | 927 | $58.70 |
| 2026-02-13 | Knop Jeremy | Tax withheld | 1.6K | $58.70 |
| 2026-02-13 | Knop Jeremy | Tax withheld | 3.1K | $58.70 |
| 2026-02-13 | Evancho Lesley | Tax withheld | 1.9K | $58.70 |
| 2026-02-13 | Evancho Lesley | Tax withheld | 1.2K | $58.70 |
| 2026-02-13 | Duran Richard A | Tax withheld | 1.8K | $58.70 |
| 2026-02-13 | Duran Richard A | Tax withheld | 1.0K | $58.70 |
| 2026-02-13 | James Todd | Tax withheld | 1.2K | $58.70 |
| 2026-02-13 | James Todd | Tax withheld | 988 | $58.70 |
| 2026-02-13 | Rice Toby Z. | Tax withheld | 14K | $58.70 |
| 2026-02-13 | Rice Toby Z. | Tax withheld | 12K | $58.70 |
| 2026-02-13 | Jordan William E. | Tax withheld | 3.4K | $58.70 |
| 2026-02-13 | Jordan William E. | Tax withheld | 2.1K | $58.70 |
| 2026-02-11 | Bolen J.E.B. | Grant | 20K | — |
| 2026-02-11 | Fenton Sarah | Grant | 20K | — |
| 2026-02-11 | Knop Jeremy | Grant | 30K | — |
| 2026-02-11 | Evancho Lesley | Grant | 8.4K | — |
| 2026-02-11 | Duran Richard A | Grant | 9.0K | — |
| 2026-02-11 | James Todd | Grant | 8.0K | — |
| 2026-02-11 | Rice Toby Z. | Grant | 52K | — |
| 2026-02-11 | Jordan William E. | Grant | 21K | — |
| 2025-11-11 | Jordan William E. | Sell | 58K | $60.63 |
| 2025-10-28 | Bolen J.E.B. | Sell | 1.4K | $52.79 |
| 2025-08-06 | BAILEY VICKY A | Sell | 4.3K | $51.56 |
| 2025-07-25 | Fenton Sarah | Grant | 27K | — |
| 2025-07-25 | Fenton Sarah | Sell | 12K | $51.94 |
| 2025-07-25 | Bolen J.E.B. | Grant | 27K | — |
| 2025-07-24 | Knop Jeremy | Tax withheld | 999 | $54.03 |
| 2025-04-28 | Knop Jeremy | Sell | 7.2K | $51.00 |
| 2025-04-16 | Vanderhider Hallie A. | Option exercise | 5.9K | — |
| 2025-04-16 | Powers Anita M. | Option exercise | 5.9K | — |
| 2025-04-16 | MCMANUS J T | Option exercise | 5.9K | — |
| 2025-04-16 | MCCARTNEY JOHN | Option exercise | 5.9K | — |
| 2025-04-16 | KARAM THOMAS F | Option exercise | 4.3K | — |
| 2025-04-16 | Jackson Kathryn Jean | Option exercise | 5.9K | — |
| 2025-04-16 | Beebe Lydia I | Option exercise | 5.9K | — |
| 2025-04-16 | BAILEY VICKY A | Option exercise | 4.3K | — |
| 2025-03-11 | KARAM THOMAS F | Sell | 31K | $48.74 |
| 2025-03-04 | Wingo Robert R. | Grant | 82K | — |
| 2025-03-04 | Wingo Robert R. | Tax withheld | 32K | $50.00 |
| 2025-03-04 | Rice Toby Z. | Grant | 555K | — |
| 2025-03-04 | Rice Toby Z. | Tax withheld | 242K | $50.00 |
| 2025-03-04 | Knop Jeremy | Grant | 14K | — |
| 2025-03-04 | Knop Jeremy | Tax withheld | 5.7K | $50.00 |
| 2025-03-04 | Jordan William E. | Grant | 123K | — |
| 2025-03-04 | Jordan William E. | Tax withheld | 49K | $50.00 |
| 2025-03-04 | James Todd | Grant | 31K | — |
| 2025-03-04 | James Todd | Tax withheld | 13K | $50.00 |
| 2025-03-04 | Fenton Sarah | Grant | 12K | — |
| 2025-03-04 | Fenton Sarah | Tax withheld | 4.2K | $50.00 |
| 2025-03-04 | Evancho Lesley | Grant | 63K | — |
| 2025-03-04 | Evancho Lesley | Tax withheld | 27K | $50.00 |
| 2025-03-04 | Duran Richard A | Grant | 62K | — |
| 2025-03-04 | Duran Richard A | Tax withheld | 24K | $50.00 |
| 2025-03-04 | Bolen J.E.B. | Grant | 12K | — |
| 2025-03-04 | Bolen J.E.B. | Tax withheld | 4.2K | $50.00 |
| 2025-02-18 | Wingo Robert R. | Tax withheld | 2.9K | $53.78 |
| 2025-02-18 | Rice Toby Z. | Tax withheld | 15K | $53.78 |
| 2025-02-18 | Knop Jeremy | Tax withheld | 3.8K | $53.78 |
| 2025-02-18 | Jordan William E. | Tax withheld | 2.9K | $53.78 |
| 2025-02-18 | James Todd | Tax withheld | 989 | $53.78 |
| 2025-02-18 | Fenton Sarah | Tax withheld | 920 | $53.78 |
| 2025-02-18 | Evancho Lesley | Tax withheld | 1.0K | $53.78 |
| 2025-02-18 | Duran Richard A | Tax withheld | 899 | $53.78 |
| 2025-02-18 | Bolen J.E.B. | Tax withheld | 632 | $53.78 |
| 2025-02-13 | Wingo Robert R. | Tax withheld | 3.2K | $52.87 |
| 2025-02-13 | Wingo Robert R. | Grant | 16K | — |
| 2025-02-13 | Rice Toby Z. | Tax withheld | 16K | $52.87 |
| 2025-02-13 | Rice Toby Z. | Grant | 83K | — |
| 2025-02-13 | Knop Jeremy | Tax withheld | 1.5K | $52.87 |
| 2025-02-13 | Knop Jeremy | Grant | 24K | — |
| 2025-02-13 | Knop Jeremy | Grant | 30K | — |
| 2025-02-13 | Jordan William E. | Tax withheld | 2.3K | $52.87 |
| 2025-02-13 | Jordan William E. | Grant | 16K | — |
| 2025-02-13 | James Todd | Tax withheld | 903 | $52.87 |
| 2025-02-13 | James Todd | Grant | 6.7K | — |
| 2025-02-13 | Fenton Sarah | Tax withheld | 699 | $52.87 |
| 2025-02-13 | Fenton Sarah | Grant | 6.3K | — |
| 2025-02-13 | Evancho Lesley | Tax withheld | 1.1K | $52.87 |
| 2025-02-13 | Evancho Lesley | Grant | 8.1K | — |
| 2025-02-13 | Duran Richard A | Tax withheld | 998 | $52.87 |
| 2025-02-13 | Duran Richard A | Grant | 7.9K | — |
| 2025-02-13 | Bolen J.E.B. | Tax withheld | 699 | $52.87 |
| 2025-02-13 | Bolen J.E.B. | Grant | 6.3K | — |
| 2025-02-04 | Knop Jeremy | Tax withheld | 948 | $52.15 |
| 2025-02-04 | Wingo Robert R. | Tax withheld | 4.8K | $52.15 |
| 2025-02-04 | Rice Toby Z. | Tax withheld | 22K | $52.15 |
| 2025-02-04 | Jordan William E. | Tax withheld | 3.2K | $52.15 |
| 2025-02-04 | James Todd | Tax withheld | 1.3K | $52.15 |
| 2025-02-04 | Fenton Sarah | Tax withheld | 925 | $52.15 |
| 2025-02-04 | Evancho Lesley | Tax withheld | 2.0K | $52.15 |
| 2025-02-04 | Duran Richard A | Tax withheld | 1.7K | $52.15 |
| 2025-02-04 | Bolen J.E.B. | Tax withheld | 925 | $52.15 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-04-22 | 2026-03-31 | 0000033213-26-000030 ↗ |
| 8-K | 2026-04-21 | 2026-04-21 | 0000033213-26-000028 ↗ |
| 8-K | 2026-04-15 | 2026-04-14 | 0001104659-26-043807 ↗ |
| 8-K | 2026-04-14 | 2026-04-14 | 0000033213-26-000022 ↗ |
| 8-K | 2026-03-24 | 2026-03-24 | 0001104659-26-033850 ↗ |
| 8-K | 2026-03-10 | 2026-03-10 | 0001104659-26-025835 ↗ |
| 10-K | 2026-02-18 | 2025-12-31 | 0000033213-26-000018 ↗ |
| 8-K | 2026-02-17 | 2026-02-17 | 0000033213-26-000012 ↗ |
| 8-K | 2026-02-09 | 2026-02-04 | 0001104659-26-011726 ↗ |
| 8-K | 2026-01-29 | 2026-01-29 | 0000033213-26-000005 ↗ |
| 8-K | 2025-12-19 | 2025-12-19 | 0001104659-25-123150 ↗ |
| 10-Q | 2025-10-22 | 2025-09-30 | 0000033213-25-000049 ↗ |