Sourcerock Group LLC Acquires 399,073 Shares of EQT Co. (NYSE:EQT)

Sourcerock Group LLC increased its holdings in EQT Co. (NYSE:EQT) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,628,798 shares of the oil and gas producer’s stock after purchasing an additional 399,073 shares during the quarter. EQT makes up 15.2% of Sourcerock Group LLC’s investment portfolio, making the stock its 2nd biggest holding. Sourcerock Group LLC’s holdings in EQT were worth $213,434,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of EQT. EverSource Wealth Advisors LLC raised its holdings in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer’s stock worth $45,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in EQT by 22.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 193 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in EQT in the fourth quarter valued at $55,000. First Horizon Advisors Inc. boosted its position in EQT by 33.1% during the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer’s stock valued at $55,000 after acquiring an additional 298 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in EQT by 1,343.8% during the 4th quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer’s stock worth $64,000 after acquiring an additional 1,290 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of EQT stock opened at $55.83 on Monday. EQT Co. has a 52 week low of $30.02 and a 52 week high of $57.04. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The business has a 50 day moving average price of $51.59 and a 200-day moving average price of $48.90. The company has a market cap of $33.42 billion, a PE ratio of 139.58, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.20. EQT had a return on equity of 4.35% and a net margin of 4.37%. The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.16 billion. Equities analysts anticipate that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Wednesday, May 7th. EQT’s payout ratio is currently 110.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on EQT. Morgan Stanley boosted their price objective on EQT from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. TD Cowen raised EQT from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company increased their price target on EQT from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, March 19th. StockNews.com lowered shares of EQT from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Finally, Stephens dropped their target price on shares of EQT from $59.00 to $57.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.67.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.