EQ6.F - EQT Corporation

Frankfurt - Frankfurt Delayed Price. Currency in EUR
13.64
+0.12 (+0.89%)
As of 8:02AM CEST. Market open.
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Previous Close13.52
Open13.64
Bid13.70 x 50000
Ask14.20 x 50000
Day's Range13.64 - 13.64
52 Week Range12.41 - 46.96
Volume100
Avg. Volume7
Market Cap3.568B
Beta (3Y Monthly)0.21
PE Ratio (TTM)N/A
EPS (TTM)-1.81
Earnings DateN/A
Forward Dividend & Yield0.11 (0.79%)
Ex-Dividend Date2019-08-08
1y Target EstN/A
  • Activists Seizing Control of EQT Need to Soothe Wary Shale Investors
    Bloomberg13 days ago

    Activists Seizing Control of EQT Need to Soothe Wary Shale Investors

    (Bloomberg) -- The activist shareholders who have seized control of EQT Corp., the largest U.S. natural gas producer, have a lot to prove to shale investors burned by lousy earnings and busted budgets.Brothers Toby and Derek Rice, who sold their company to EQT about two years ago and together own 3% of the explorer’s shares, won seven seats on the 12-member board. At its first meeting Wednesday, the new board named Toby Rice president and chief executive officer. John McCartney was elected chairman, and William Jordan was appointed general counsel, replacing Jonathan Lushko. All the elected directors won more than 80% of the votes cast.“The shareholders provided overwhelming support to us,” Toby Rice, 37, told reporters after the meeting. “One of the key focuses of our campaign was changing out leadership, and that starts with the CEO.”The dissidents’ victory in the nine-month battle for EQT highlights the urgency for shale producers to demonstrate that they can translate drilling success into shareholder returns. While gas explorers have been remarkably adept at ramping up output and turning the U.S. into a net exporter, their track record of doing so profitably has been spotty at best. Gas prices haven’t helped: They’ve languished near 1990s-era lows amid record production.The Rices are touting the more intensive use of technology at EQT to improve the efficiency of its drilling. If they end up implementing that approach successfully, it may point to a brighter future for the exploration and production sector, in which operational rigor leads to improved financial performance. But failure is likely to confirm the view of many investors who have soured on fracking in recent years.EQT rose 1.8% to $15.94 a share in New York on Wednesday after earlier climbing as much as 5%. Bloomberg News first reported the preliminary results on Tuesday.The company’s annual general meeting, which included one shareholder casting a ballot in person, lasted four minutes.The activists’ victory “is big, and that may allow others to go after other companies” that are perceived to be trailing competitors, said Josh Silverstein, an analyst at Wolfe Research LLC. Gulfport Energy Corp. and Southwestern Energy Co. could be the next targets for dissidents, he said. Representatives for the companies didn’t immediately respond to requests for comment.Though EQT shares had plunged as the company cut production targets after the acquisition of Rice Energy Inc., management under CEO Robert McNally was implementing a plan to turn things around. Investors apparently weren’t convinced.“While this was not the outcome we had hoped for, I’m confident that the steps we have taken and the progress achieved in the past seven months has put EQT in a position of strength,” McNally said in a statement at the shareholder meeting. The company estimated in May the proxy fight could cost it about $14 million.Management ChangesThe Rices don’t plan to swap out all of EQT’s top executives, but will add a chief information officer and chief human resources officer, Toby Rice said after the shareholder meeting. He said the company will remain focused on Appalachia’s Marcellus Shale, the biggest U.S. gas basin.The “board only valued financial expertise and that led to the dramatically poor operational performance of EQT,” said Steve Schlotterbeck, who oversaw the Rice Energy takeover as EQT’s CEO and remains a shareholder. “Toby can fix that.”Schlotterbeck resigned in March of last year because of disagreements with the board over his pay.Hedge fund D.E. Shaw & Co., which backed the Rices, “is encouraged by the company’s expected decision to name Toby Rice as president and CEO,” according to a statement. “We strongly believe that with the right board and management team in place the company is better positioned to create significant value for all of its shareholders.”The brothers garnered the support of the company’s largest shareholder, T. Rowe Price Group Inc. in their battle to revamp the board. They also won backing from several other investors, including Kensico Capital Management Corp. and Elliott Management Corp.The Rice brothers’ push for change was supported by prominent shareholder advisory firm Institutional Shareholder Services Inc., while another advisory firm, Glass Lewis & Co., threw its support behind management.(Updates first, second paragraphs to show results are final.)\--With assistance from Andres Guerra Luz.To contact the reporters on this story: Scott Deveau in New York at sdeveau2@bloomberg.net;Naureen S. Malik in New York at nmalik28@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Christine Buurma, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg13 days ago

    The Millennial Taking the Helm at EQT Is a Baseball Jock Turned Shale Guru

    (Bloomberg) -- The millennial who’s taken the top job at the largest U.S. natural gas producer is a former All-American college baseball player turned shale tycoon.Toby Rice, 37, is the new chief executive officer at EQT Corp. after Rice and his brother Derek, 34, won a proxy battle to take control of the board. The brothers, who sold their company to EQT in 2017 for $6 billion, launched a campaign to overhaul the producer after it missed output targets and boosted spending.The Rices got their start in gas drilling 12 years ago, when Toby, Derek, and their brother Daniel, 38, founded Rice Energy Inc. Their father, former BlackRock Inc. fund manager Daniel Rice III, was a key investor in the company. By their telling, the brothers’ first big break in the world of fracking came in 2010, when a refurbished rig they’d rented for $18,500 a day finally started producing gas from shale rock buried beneath a Pennsylvania hilltop.Toby Rice, who was named to the American Baseball Coaches Association’s All-America Third Team in 2004 as a right fielder at Florida’s Rollins College, is now tasked with revitalizing an explorer that’s trailed peers since the Rice Energy acquisition. Having worked as a roughneck in Texas, he’ll have to prove to shareholders that he can replicate the success of his previous company, where he and his brothers had custom heavyweight wrestling belts made to commemorate productive wells.“The clock starts on our 100-day plan as soon as today,” Toby Rice told reporters after EQT’s annual general meeting in Pittsburgh on Wednesday. “By 2020 we want to have our foundational elements set up, best practices in place and then you’ll start to see the effects of large-scale development by mid-2021.”The Rices, who have used the term “shalennial” to describe their management style, plan to use better technology at EQT to drill wells more cheaply and efficiently. They’ll also make changes to the company’s organizational structure, adding a chief information officer and chief human resources officer. EQT’s focus on the Marcellus shale of Pennsylvania and West Virginia, the country’s largest gas play, will remain.But they’ll have to win over investors who have been burned by weak earnings and overspending. Though a shale producers have pushed U.S. gas output to a record, making the U.S. a net exporter, the resulting oversupply has sent prices for the fuel to 1990s-era lows, denting profits.The “main thing investors will be watching going forward is their ability to execute on the cost reduction initiatives that underpinned” the Rices’ promise of $500 million per year in additional free cash flow, Sameer Panjwani, an analyst at Tudor Pickering Holt & Co. in Houston, said in an email. “Wouldn’t be surprised if this spurs more activism in the space by investors targeting underperforming companies.”(Updates first, second paragraphs to show proxy results are final.)\--With assistance from Scott Deveau.To contact the reporter on this story: Naureen S. Malik in New York at nmalik28@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Christine Buurma, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Activists Take Control of EQT Board in Proxy Fight
    Bloomberg13 days ago

    Activists Take Control of EQT Board in Proxy Fight

    (Bloomberg) -- Activist investors have won control of the board at EQT Corp., bringing to an end a nine-month battle for the largest U.S. natural gas producer.Brothers Toby and Derek Rice, who sold their company to EQT about two years ago and together own 3% of the shares, have won seven seats on the 12-member board, based on preliminary tallies. The new board will meet later Wednesday and is expected to name Toby Rice as chief executive officer. All twelve elected directors won more than 80% of the votes cast.“The shareholders provided overwhelming support to us,” Toby Rice, 37, said after the meeting. “One of the key focuses of our campaign was changing out leadership, and that starts with the CEO. So that will be one of the first items on the agenda.”EQT rose 4.2% to $16.32 a share at 9:59 a.m. in New York after earlier climbing as much as 5%. Bloomberg News first reported the preliminary results on Tuesday.The “board only valued financial expertise and that led to the dramatically poor operational performance of EQT,” said Steve Schlotterbeck, who oversaw the Rice Energy takeover as EQT’s CEO and remains a shareholder. “Toby can fix that.”Schlotterbeck, who resigned in March of last year because of disagreements with the board over his pay, said in an interview that he’s had a few discussions with Toby Rice and told him “he would win in a landslide.”The Rice team’s victory marks the beginning of a dramatic transformation for EQT, which gained the top spot among U.S. gas explorers after buying Rice Energy Inc. The brothers have argued the company has underperformed since.The Rices don’t plan to replace all of EQT’s top executives, but will replace the general counsel and add a chief information officer and chief human resources officer, Toby Rice said after the shareholder meeting. He said the company will remain focused on Appalachia’s Marcellus Shale, the biggest U.S. gas basin.Though EQT shares had plunged as the company cut production targets after the acquisition, management under CEO Robert McNally was implementing a plan to turn things around. Investors apparently weren’t convinced.“While this was not the outcome we had hoped for, I’m confident that the steps we have taken and the progress achieved in the past seven months has put EQT in a position of strength,” McNally said in a statement at the shareholder meeting.A win for the dissidents will highlight the urgency for producers to demonstrate that they can translate their drilling success into shareholder returns. While American gas explorers have been remarkably adept at ramping up output and turning the U.S. into a net exporter, their track record of doing so profitably has been spotty at best.The Rices are touting the more intensive use of technology at EQT to improve the efficiency of its drilling. If they end up implementing that approach successfully, it may point to a brighter future for the exploration and production sector, in which operational rigor leads to improved financial performance. But failure is likely to confirm the view of many investors who have soured on fracking in recent years.The brothers garnered the support of the company’s largest shareholder, T. Rowe Price Group Inc. in their battle to revamp the board. They also won backing from several other investors, including D.E. Shaw & Co., Kensico Capital Management Corp. and Elliott Management Corp.The Rice brothers’ push for change was supported by prominent shareholder advisory firm Institutional Shareholder Services Inc., while another advisory firm, Glass Lewis & Co., threw its support behind management.(Updates shares in fourth paragraph, Toby Rice quotes starting in third.)To contact the reporters on this story: Scott Deveau in New York at sdeveau2@bloomberg.net;Naureen S. Malik in New York at nmalik28@bloomberg.netTo contact the editors responsible for this story: Liana Baker at lbaker75@bloomberg.net, Christine Buurma, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters13 days ago

    UPDATE 1-Rice group wins board control at gas producer EQT, new CEO to be named

    Two brothers have won control of the board of directors of natural gas producer EQT Corp, and one of them, Toby Rice, is expected to be named chief executive officer later on Wednesday, the company said. Shareholders ranging from mutual fund group T. Rowe Price Group Inc to pension fund CalSTRS elected all seven Rice Team nominees as directors as well as five nominees supported by both Rice and EQT, the company said in a statement. "The newly constituted Board will meet later today and is expected to name Toby Z. Rice as President and CEO, succeeding Robert McNally," the statement added.

  • TheStreet.com13 days ago

    EQT Higher as Proxy Battle for Gas Giant Ends in Activist Victory

    The board of EQT, the largest independent U.S. natural gas producer, is expected to meet Wednesday and name Toby Rice president and CEO, ending a nine-month battle for control of the company.

  • Rigzone.com13 days ago

    Activists Taking Control of EQT Must Ease Wary Shale Investors

    The activist shareholders seizing control of EQT Corp., the largest U.S. natural gas producer, have a lot to prove to shale investors burned by lousy earnings and busted budgets.

  • Two Brothers Lead a Showdown With U.S. Natural Gas Giant
    Bloomberg14 days ago

    Two Brothers Lead a Showdown With U.S. Natural Gas Giant

    (Bloomberg) -- The nine-month battle for control of America’s largest natural gas producer has come down to a choice: The old guard, or the “shalennials.”Absent a settlement before EQT Corp.’s annual meeting in Pittsburgh on Wednesday, shareholders will decide between competing rosters of candidates for the board of directors. One slate was nominated by EQT, while the other is backed by Toby and Derek Rice, the thirtysomething brothers leading a group of dissident investors who want to overhaul the company.Less than two years after EQT took the top spot among U.S. gas producers with its $6 billion purchase of the Rices’ former company, Rice Energy Inc., the two sides are locked in a bitter dispute. The brothers, who say EQT has underperformed since the acquisition, want a board majority and aim to install Toby Rice as chief executive officer.Though activists rarely grab a board majority through a proxy battle, the Rices’ push may be an exception: They’ve already won the backing of several large investors and two shareholder advisory firms. The brothers, who have used the term “shalennial” to describe their management style, own about 3% of EQT.The conflict between the Rices and EQT hinges on a wider issue for the industry. While U.S. gas drillers have been remarkably successful at ramping up output and turning the country into a net exporter, their track record of doing so profitably has been mixed at best, causing many investors to sour on the sector. The Rices say they’ll implement better technology and revamp EQT’s organizational structure to drill wells more efficiently.If investors “vote the Rice brothers in, the kind of change they are voting for is a pretty dramatic shakeup,” Sameer Panjwani, an analyst at Tudor Pickering Holt & Co. in Houston, said in a July 3 telephone interview. “The message they have been campaigning for has been enhanced free cash flow, and that is really the main thing the market is looking for today. That’s definitely why they have traction.”The Rices have cast EQT, founded in 1888 as Equitable Gas Company, as a driller hearkening back to a “bygone era” by offering its top brass lavish perks like company-paid country club dues and the use of a private aircraft for an interim chief executive officer. They say that EQT is the highest-cost producer in the Appalachian Basin -- an area that includes the Marcellus shale play, the biggest U.S. gas formation.EQT’s shares tumbled 39% last year as the company lowered production targets and boosted its budget, citing operating inefficiencies after the Rice acquisition. The driller underperformed the S&P exploration and production index, which fell 29%.The Rices’ push for changes at EQT “started because the largest shareholders reached out to us and they wanted us to help fix the business,” Toby Rice said in a June 28 phone interview. “We are innovators, there is no doubt about it, and we continue to stay on the cutting edge.”Another Rice brother, Daniel, is already on the EQT board after having gained a seat with EQT’s purchase of Rice Energy in 2017.The Rices have the support of at least one-fifth of EQT investors, including the largest shareholder, T. Rowe Price Group Inc. The brothers have also won the backing of D.E. Shaw & Co., Kensico Capital Management Corp., Elliott Management Corp. and Tortoise, along with proxy advisory firms Institutional Shareholder Services Inc. and Egan-Jones Ratings Co.‘Managerial Chaos’For its part, EQT says it’s already taken steps to transform the company and refresh its board since the Rice deal, replacing nine of its 12 directors since 2017. The driller cut debt by more than $500 million in the fourth quarter of last year and first quarter of 2019, and last month said that it was on track to generate as much as $400 million of free cash flow this year.Electing the Rice slate would result in “a weaker board and managerial chaos,” according to EQT, which has also said Toby Rice isn’t fit to lead a public company.“The plan that we have put forward is one that’s based in reality,” EQT CEO Rob McNally said in an interview in May. “The Rice plan really ignores some business fundamentals.”EQT’s board slate has the backing of proxy advisory firm Glass Lewis & Co., as well as the five independent board candidates supported by both EQT and the Rice group.Regardless of the outcome of the proxy battle, the dispute underscores how explorers are struggling to attract capital amid concerns about profitability, according to Katie Bays, co-founder of Washington-based consulting firm Sandhill Strategy.“The proxy fight with EQT could ultimately be a negative for the industry overall,” Bays said in a July 3 interview. “You create an Icarus problem where companies get bigger, they fly closer to the sun and they get more scrutiny from investors.”(Updates with Tortoise backing Rices in 11th paragraph.)\--With assistance from Scott Deveau and Ryan Collins.To contact the reporter on this story: Naureen S. Malik in New York at nmalik28@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Christine Buurma, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters18 days ago

    Proxy adviser Egan-Jones supports Rice Brothers' nominees to EQT board

    Proxy advisory firm Egan-Jones Ratings Co recommended that investors in EQT Corp vote in favor of nominees by shareholders Toby and Derek Rice, who have been locked in a battle with the natural gas producer. The brothers were part of the founding team at Rice Energy, which EQT bought in November 2017. EQT's shares have fallen nearly 60 percent since it closed the acquisition of Rice Energy.

  • EQT Proxy Battle Heats Up as Largest Shareholder Joins Rices
    Bloomberg22 days ago

    EQT Proxy Battle Heats Up as Largest Shareholder Joins Rices

    (Bloomberg) -- The dissident group of investors seeking to overhaul the top management and board of EQT Corp. won support from the U.S. natural gas producer’s largest shareholder, boosting its position ahead of the company’s annual meeting next week.T. Rowe Price Group Inc., which holds a stake of about 10% stake in the largest American gas producer, said on Monday that it will vote to elect the slate of director nominees put forward by the Rice Group. That support comes just four days after Kensico Capital Management Corp., another large shareholder, backed the group led by brothers Toby and Derek Rice.The Rices have called for drastic changes at the Pittsburgh-based driller, contending that EQT has underperformed peers since buying Rice Energy Inc. in 2017, the company their family founded. The brothers want Toby Rice to take over as chief executive officer. EQT says most of the Rices’s demand are too extreme and the company is already undergoing significant changes.“We have long been admirers of the founders and leaders of Rice Energy,” David J. Wallack, portfolio manager for the T. Rowe Price Mid-Cap Value Fund, said in a statement. “This magnitude of change for the EQT board is appropriate and necessary.”T. Rowe Price and Kensico follow Elliott Management Corp. and D.E. Shaw Group, which have also thrown their weight behind the brothers, giving the dissident group the support of at least a fifth of shareholders, who are set to vote at the annual meeting on July 10.“EQT believes shareholders should question the merit of a 3% shareholder seeking to be CEO and replace management and a majority of the board,” the company said in separate statement Monday, referring to the Rice group’s holding.Shareholder advisory firm Institutional Shareholder Services Inc. on Friday urged EQT shareholders to support the Rices, while Glass Lewis & Co., another advisory firm, said the company is headed in the right direction after changes to management and the board in recent months.Shares of the company extended gains on Monday, rising 1.6% as of 10:16 a.m. in New York, after jumping 9.6% in the previous session following the ISS decision.To contact the reporters on this story: Simon Casey in New York at scasey4@bloomberg.net;Ryan Collins in Houston at rcollins74@bloomberg.netTo contact the editors responsible for this story: Tina Davis at tinadavis@bloomberg.net, Pratish Narayanan, Joe CarrollFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters22 days ago

    UPDATE 1-EQT's largest shareholder sides with Rice nominees in proxy fight

    Natural gas producer EQT Corp's largest shareholder on Monday extended its support for the nominees of Toby and Derek Rice, the two brothers who sold their company to EQT more than a year ago and are pressing for changes to its board. T Rowe Price Associates Inc, which owns 10% of the company, said it intends to vote for the slate of nominees of Rice brothers at the annual shareholders' meeting on July 10. Proxy advisory firms Institutional Shareholder Services and Glass Lewis came up with contrasting reports last week with ISS supporting nominees of Rice brothers and Glass Lewis backing the company's management.

  • Reuters24 days ago

    UPDATE 1-Proxy adviser Glass Lewis recommends EQT shareholders vote for company's nominees

    Proxy adviser Glass Lewis & Co has recommended that investors in natural gas producer EQT Corp vote in favor of the company's board nominees, putting it at odds with another proxy advisory firm which recommended voting in favor of a competing slate of directors proposed by Toby and Derek Rice. "We see no significant outstanding concerns regarding leadership or governance at EQT and we do not believe further board refreshment or oversight is warranted at this juncture," Glass Lewis said in a note dated June 28. The recommendation by Glass Lewis to vote in favor of all 12 of the company's nominees comes after proxy advisory firm Institutional Shareholder Services on Friday advised EQT investors to vote in favor of all the nominees of shareholders Toby and Derek Rice.

  • Bloomberg24 days ago

    EQT Wins Glass Lewis Support in Fight With Rice Brothers

    (Bloomberg) -- EQT Corp., the largest U.S. natural gas producer, has won the support of a prominent shareholder advisory firm that recommended shareholders support its slate of directors over another being presented by dissident shareholders.Glass Lewis & Co. said in a report Friday that the company was headed in the right direction after changes to management and the board in recent months. It recommended shareholders not support an effort to replace the majority of the board by stakeholders Toby and Derek Rice."We see no significant outstanding concerns regarding leadership or governance at EQT and we do not believe further board refreshment or oversight is warranted at this juncture," Glass Lewis said in its report.The report is at odds with another advisory firm, Institutional Shareholder Services, which recommended investors support all seven Rice nominees.The Rice brothers have been pushing to revamp the board and management, arguing the company has underperformed and is need of an overhaul.EQT has argued the Rice brothers simply want to make the gas producer a “family business” by appointing 15 former employees of Rice Energy to management roles. The company has argued that their plans would destabilize the business and are unmanageable. EQT also has noted it’s taken steps to refresh its board, replacing nine of its 12 directors since 2017, including three long-tenured ones last month.“The recommendation reaffirms that EQT has the right Board, management team and strategy to continue its successful transformation and create significant long-term shareholder value,” the company said in a statement. The Rice brothers weren’t immediately available for comment.Glass Lewis said in its report that the current leadership should be given more time for its turnaround."Ultimately, we believe this contest has placed additional pressure on EQT leadership to deliver operational efficiencies and we believe it would be reasonable for shareholders to provide management and the board with additional time to achieve target savings before seeking further change," Glass Lewis said in its report.(Updates with EQT statement.)To contact the reporter on this story: Scott Deveau in New York at sdeveau2@bloomberg.netTo contact the editors responsible for this story: Elizabeth Fournier at efournier5@bloomberg.net, Matthew G. Miller, Linus ChuaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Why Shares of EQT Are Trading Higher on Friday
    Motley Fool25 days ago

    Why Shares of EQT Are Trading Higher on Friday

    A proxy advisory firm has chimed in on dissident shareholders' attempt to overhaul the company's board and management team.

  • Reuters25 days ago

    UPDATE 1-Proxy adviser ISS recommends EQT shareholders vote for Rice nominees

    Proxy adviser Institutional Shareholder Services urged investors of natural gas producer EQT Corp to vote in favor of all the nominees of shareholders Toby and Derek Rice, sending the company's shares up 8%. The Rice brothers, who own about 3% of EQT, were part of the founding team at Rice Energy, which EQT bought in November 2017. EQT stock has lost nearly 59% since the completion of the Rice merger, compared with an 8.8% fall in the broader S&P Energy Index during the same period.

  • Benzingalast month

    Activist Investors, EQT Corporation Clash Ahead Of Natural Gas Producer's Annual Meeting

    EQT Corporation (NYSE: EQT ) shareholders known as the Rice Team said in a Friday press release that the natural gas producer is deflecting attention from its underperformance ahead of a July 10 annual ...

  • TheStreet.comlast month

    EQT Corp. Is Likely to Sink Even Lower

    In his second "Executive Decision" segment on Mad Money Tuesday night, our own Jim Cramer sat down with Rob McNally, president and CEO of EQT Corp. , the natural gas producer embroiled in a bitter proxy fight with Rice Energy, a company it acquired in 2017. When asked about the proposals made by those backing Rice Energy, McNally said simply that those claims are not based in reality.

  • Reuterslast month

    Rice Energy founder says EQT's turnaround dependent on his board takeover plan

    The founder of Rice Energy, the U.S. natural gas producer acquired by larger peer EQT Corp for $6.7 billion in 2017, told Reuters on Tuesday that only by giving him control of the EQT board would the business be able to make the changes he believes it needs. Toby Rice has put forward himself, his brother Daniel and five more nominees to sit on EQT's 12-member board, arguing the company has mismanaged the acquisition, with its inefficient production methods leading to significant shareholder value destruction. Daniel Rice is already an EQT board director.

  • Reuters2 months ago

    Rice brothers reduce their EQT director nominees to seven from nine

    EQT Corp shareholders Rice brothers said on Thursday they will reduce their director nominees to the company's board from nine to seven, after EQT decided to replace three long-serving directors. Rice Energy's Toby Rice and brother Derek own around 3% of EQT and have been pushing for a change in its strategy and a shakeup of the board. Toby and Derek Rice are part of Rice Energy's founding team, which EQT bought in November 2017.

  • Reuters2 months ago

    EQT shareholders Rice brothers say board changes not enough

    EQT Corp shareholders Rice brothers on Thursday said the company's plan to replace three board members was not enough and urged it to change its leadership. The oil and gas producer said on Wednesday three of its long-serving directors, including its chairman James Rohr, would step down and announced plans to nominate their replacements. Rice Energy's Toby Rice and brother Derek, who own around 3.1 percent stake in EQT, have been asking for Toby Rice to be made the company's chief executive officer.

  • Reuters2 months ago

    EQT nominates three new directors ahead of shareholder vote

    EQT Corp on Wednesday said three long-serving directors will step down from the company's board, at a time when the oil and gas producer fights a proxy battle with Rice brothers. The company plans to nominate Janet Carrig, James McManus II and Valerie Mitchell to the board, to replace outgoing executives - chairman James Rohr and directors Bray Cary or Lee Todd - who will not seek re-election, it said. Rice Energy's Toby Rice and brother Derek, who own around 3.1 percent of EQT, have been pushing for a change in EQT's strategy and a shakeup of the board.

  • Reuters3 months ago

    Rice Energy founder to drop lawsuit against energy producer EQT

    Toby Rice, the co-founder of Rice Energy, which was acquired by EQT Corp in 2017, said in a statement on Sunday he would drop his lawsuit against EQT after the U.S. oil and gas producer said it was not seeking to manipulate the outcome of his board challenge. Rice and his brother Derek have put forward a slate of nominees to challenge EQT's board in a shareholder vote in July, arguing EQT has mismanaged the $6.7 billion acquisition of their company to the detriment of EQT investors. In a lawsuit last month, Rice also accused EQT of seeking to mislead its shareholders by portraying his board nominees as endorsing EQT's existing board, and presenting their election as triggering covenants that would require EQT to repay early or refinance its debt.

  • EQT Corp (EQT) Q1 2019 Earnings Call Transcript
    Motley Fool3 months ago

    EQT Corp (EQT) Q1 2019 Earnings Call Transcript

    EQT earnings call for the period ending March 31, 2019.

  • Reuters3 months ago

    EQT Corp CEO rejects Rice Energy board manipulation lawsuit

    The chief executive of EQT Corp has rejected allegations in a lawsuit filed on Thursday by a founder of Rice Energy Inc to prevent the oil and gas producer from "manipulating" the outcome of its forthcoming board election. Toby and his brother Derek Rice were part of the founding team of Rice Energy, which was bought by EQT in November 2017. Toby, in a statement, alleged that EQT might name Rice nominees in its proxy statement against their wishes, giving an impression that his nominees support the company's current board.

  • GuruFocus.com4 months ago

    Eqt Corp (EQT) President & CEO Robert Joseph Mcnally Bought $263,328 of Shares

    President & CEO of Eqt Corp (NYSE:EQT) Robert Joseph Mcnally bought 12,660 shares of EQT on 03/29/2019 at an average price of $20.8 a share.