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EQT Corp (NYSE:EQT), a $33.3 billion market cap energy company trading near its 52-week high of $61.02, announced Monday that it has extended the maturity date of its revolving credit facility by one year and completed the previously announced acquisition of Olympus Energy assets. The information is based on a press release statement and a filing with the Securities and Exchange Commission. According to InvestingPro analysis, EQT (ST:EQTAB) is currently trading slightly above its Fair Value, with 12 additional exclusive insights available to subscribers.
According to the filing, EQT obtained consent from all lenders under its Revolving Credit Agreement to extend the maturity date of commitments and loans from July 23, 2029, to July 23, 2030. The extension becomes effective July 23, 2025. All other terms of the credit agreement remain unchanged. InvestingPro data shows EQT operates with a moderate debt level, maintaining a debt-to-equity ratio of 0.41, though its current ratio of 0.57 indicates short-term obligations exceed liquid assets.
The extension is the first of two possible one-year extensions permitted under the Fourth Amended and Restated Credit Agreement, dated July 22, 2024. PNC Bank, National Association, serves as administrative agent, swing line lender, and letter of credit issuer under the agreement.
In a separate transaction, EQT issued 25,229,166 shares of its common stock to the sellers of Olympus Energy LLC, Hyperion Midstream LLC, and Bow & Arrow Land Company LLC as part of the consideration for acquiring certain oil and gas properties and related upstream and midstream assets. The equity issuance was completed Monday and was made in reliance on an exemption from the registration requirements of the Securities Act of 1933, as amended.
The total consideration for the Olympus Energy acquisition consisted of the newly issued EQT common shares and approximately $440 million in cash, subject to customary post-closing adjustments. The purchase and sale agreement was originally signed on April 22, 2025.
EQT stated that the involved lenders are full-service financial institutions that may have provided, and may continue to provide, financial advisory and investment banking services to EQT or its affiliates.
EQT Corp is listed on the New York Stock Exchange under the ticker (NYSE:EQT). The company has demonstrated strong financial performance with revenue growth of 39.4% in the last twelve months. For deeper insights into EQT’s financial health and detailed analysis, including exclusive ProTips and comprehensive valuation metrics, investors can access the full Pro Research Report on InvestingPro.
In other recent news, EQT Corporation has agreed to pay $167.5 million to settle a class action lawsuit related to its 2017 merger with Rice Energy. This settlement is noted as the largest securities class action recovery in the history of the U.S. District Court Western District of Pennsylvania. Additionally, EQT’s first-quarter earnings exceeded expectations, with gas volumes and unit pricing surpassing consensus estimates, resulting in a 17% beat on EBITDA and a 34% beat on free cash flow. Following these results, Bernstein raised its price target for EQT to $74, maintaining an Outperform rating, while UBS upgraded EQT to a Buy rating and increased its price target to $64, citing improved operational performance.
Moreover, EQT has sold Acumatica, a cloud-based ERP platform, to Vista Equity Partners, marking a significant transaction expected to close in the third quarter of 2025. The sale follows Acumatica’s substantial growth under EQT’s ownership since 2019. Meanwhile, Bernstein analysts have highlighted EQT as one of their top investment ideas, emphasizing its strong position in the U.S. natural gas market and potential for steady free cash flow generation. These developments reflect EQT’s strategic maneuvers and strong financial performance amidst a favorable market outlook for natural gas.
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