Core Capital Management & Research inc. purchased a new position in shares of EQT Corporation (NYSE:EQT – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,000 shares of the oil and gas producer’s stock, valued at approximately $1,074,000.
A number of other hedge funds have also made changes to their positions in EQT. Parallel Advisors LLC boosted its holdings in EQT by 1.0% in the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock valued at $1,022,000 after purchasing an additional 198 shares in the last quarter. Root Financial Partners LLC boosted its holdings in shares of EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 202 shares in the last quarter. Rothschild Investment LLC grew its position in shares of EQT by 0.5% in the 4th quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock valued at $2,497,000 after buying an additional 215 shares during the last quarter. RFG Advisory LLC raised its stake in EQT by 3.2% during the 2nd quarter. RFG Advisory LLC now owns 7,033 shares of the oil and gas producer’s stock worth $374,000 after acquiring an additional 216 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in EQT by 4.0% in the first quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock valued at $392,000 after acquiring an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on EQT shares. JPMorgan Chase & Co. dropped their price objective on EQT from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, June 23rd. Wall Street Zen cut EQT from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Zacks Research upgraded EQT from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of EQT in a research report on Thursday, July 30th. Finally, Truist Financial reduced their price objective on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.00.
Insider Activity at EQT
In other news, CEO Toby Rice sold 175,328 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.72% of the company’s stock.
EQT Trading Down 0.9%
NYSE:EQT opened at $54.61 on Thursday. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The stock’s 50 day simple moving average is $52.82 and its 200-day simple moving average is $56.26. The firm has a market cap of $34.16 billion, a P/E ratio of 12.67 and a beta of 0.58.
EQT (NYSE:EQT – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the prior year, the business earned $0.45 earnings per share. EQT’s revenue for the quarter was down 29.2% compared to the same quarter last year. Equities analysts anticipate that EQT Corporation will post 3.96 EPS for the current year.
EQT Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. EQT’s dividend payout ratio is presently 15.31%.
EQT Company Profile
EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company primarily develops and operates unconventional oil and gas properties in the Appalachian Basin, with a focus on natural gas production from the Marcellus and Utica shale formations.
EQT’s products include natural gas, natural gas liquids and condensate. Its operations span drilling, well completion, production and related gathering activities, supporting the delivery of energy to utilities, industrial customers, marketers and other buyers.
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