|Bid||14.13 x 50000|
|Ask||14.44 x 50000|
|Day's Range||13.85 - 13.85|
|52 Week Range||13.69 - 49.10|
|Beta (3Y Monthly)||0.25|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.11 (0.57%)|
|1y Target Est||N/A|
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.
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.
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.
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.
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.
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.
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.
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.
Oil and gas producer EQT Corp said on Wednesday it had agreed to pay about $54 million to settle a lawsuit with West Virginia landowners over royalty payments. "EQT is working diligently to resolve this matter with our leaseholders and earn their confidence, as well as that of other West Virginia residents and community leaders," EQT Chief Executive Robert McNally said in a statement on Wednesday. EQT said under the settlement, it had agreed to stop taking future post production deductions on leases determined by the court to not permit deductions and that future royalty payments will be based on index pricing.
EQT Corp said on Wednesday it has agreed to pay $53.5 million to settle with West Virginia landowners who are part of a statewide class-action lawsuit related to lease royalty payments. The energy firm ...
Two of the founders of Rice Energy, which EQT Corp bought in 2017, are pushing for a change in the company's strategy and replacement of its board due to its ongoing underperformance. Appalachian-focused EQT acquired rival Rice Energy for $6.7 billion, making it the largest natural gas producer in the United States. In a presentation to shareholders on Tuesday, the brothers proposed appointing Toby Rice, former chief operating officer of Rice Energy, as the company's new chief executive.
The founders of Rice Energy on Tuesday outlined a plan to turn around EQT Corporation, rebuking its performance a year and a half after the two companies merged and proposing it replace its chief executive officer and board. Appalachian-focused EQT acquired rival Rice Energy for $6.7 billion in mid-2017, making it the largest natural gas producer in the United States. On Tuesday, in a presentation to shareholders, they proposed appointing Toby Rice, former chief operating officer for Rice Energy, as EQT's new chief executive, and revamping its board.
EQT Corp's production guidance for 2019 and a plan for increased focus on generating cash flow drew a rebuke from founders of the company it merged with 15 months ago, who said they would challenge the energy firm's board in an upcoming shareholder ballot. Pittsburgh-based EQT became one of the largest gas-focused U.S. producers when it completed its tie-up with Rice Energy in November 2017. Despite its new scale, EQT's share price has lagged since the merger - a situation which spurred in December two of Rice Energy's founders, Toby and Derek Rice, to call for changes.
The Rice family sold its company Rice Energy Inc to EQT for $6.7 billion in cash and stock last year. It now owns about 2.75 percent of EQT, and Toby and Derek Rice wrote a letter last week to EQT's board asking for a "course correction". EQT Chairman Jim Rohr and Chief Executive Rob McNally plan to write to the Rice brothers to ask them to discuss their plans for the company in more detail with the board, the sources said, asking not to be identified because the matter is confidential.