Palogic Value Management L.P. boosted its position in shares of EQT Corporation (NYSE:EQT – Free Report) by 96.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 19,198 shares of the oil and gas producer’s stock after buying an additional 9,433 shares during the quarter. Palogic Value Management L.P.’s holdings in EQT were worth $1,021,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Reaves W H & Co. Inc. lifted its holdings in EQT by 12.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after buying an additional 132,741 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of EQT by 21.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 186,352 shares of the oil and gas producer’s stock valued at $9,988,000 after acquiring an additional 32,921 shares during the last quarter. BOKF NA lifted its stake in shares of EQT by 25.9% in the 4th quarter. BOKF NA now owns 138,368 shares of the oil and gas producer’s stock valued at $7,417,000 after purchasing an additional 28,427 shares during the period. Allstate Corp lifted its stake in shares of EQT by 114.0% in the 4th quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer’s stock valued at $2,601,000 after purchasing an additional 25,852 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of EQT by 9.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock worth $31,253,000 after purchasing an additional 48,587 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 274,042 shares of company stock valued at $15,005,076. 0.72% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Read Our Latest Analysis on EQT
EQT Price Performance
NYSE EQT opened at $54.79 on Thursday. The business has a 50 day simple moving average of $52.17 and a 200 day simple moving average of $56.43. EQT Corporation has a 52-week low of $47.94 and a 52-week high of $68.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market cap of $34.27 billion, a price-to-earnings ratio of 12.71 and a beta of 0.58.
EQT (NYSE:EQT – Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. The business’s quarterly revenue was down 29.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 EPS. Analysts anticipate that EQT Corporation will post 3.97 earnings per share for the current fiscal year.
EQT Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT’s payout ratio is currently 15.31%.
About EQT
EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.
In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.
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