Trexquant Investment LP Decreases Stake in EQT Co. (EQT)

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Trexquant Investment LP lessened its position in EQT Co. (NYSE:EQT) by 35.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,460 shares of the oil and gas producer’s stock after selling 25,615 shares during the quarter. Trexquant Investment LP’s holdings in EQT were worth $2,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. lifted its position in EQT by 23.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 319,143 shares of the oil and gas producer’s stock worth $17,610,000 after buying an additional 60,326 shares in the last quarter. Rational Advisors LLC increased its stake in EQT by 16,969.8% during the second quarter. Rational Advisors LLC now owns 38,407 shares of the oil and gas producer’s stock worth $2,120,000 after acquiring an additional 38,182 shares during the last quarter. Altfest L J & Co. Inc. acquired a new stake in EQT during the second quarter worth $230,000. Toronto Dominion Bank increased its stake in EQT by 26.4% during the second quarter. Toronto Dominion Bank now owns 167,558 shares of the oil and gas producer’s stock worth $9,244,000 after acquiring an additional 35,042 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in EQT by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 2,063,451 shares of the oil and gas producer’s stock worth $113,861,000 after acquiring an additional 64,442 shares during the last quarter. Institutional investors and hedge funds own 91.18% of the company’s stock.

In other news, insider Robert Joseph Mcnally acquired 4,000 shares of the company’s stock in a transaction dated Wednesday, June 6th. The stock was acquired at an average cost of $51.18 per share, with a total value of $204,720.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth Michael Burke acquired 5,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was purchased at an average cost of $50.20 per share, with a total value of $251,000.00. Following the completion of the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $251,000. The disclosure for this purchase can be found here. Insiders bought 9,385 shares of company stock valued at $476,964 over the last ninety days. Insiders own 0.68% of the company’s stock.

Several research firms have issued reports on EQT. LADENBURG THALM/SH SH set a $70.00 target price on EQT and gave the stock a “buy” rating in a research note on Friday. Morgan Stanley cut their target price on EQT from $59.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday. TheStreet raised EQT from a “d+” rating to a “c-” rating in a research note on Monday, July 23rd. Royal Bank of Canada set a $74.00 target price on EQT and gave the stock a “buy” rating in a research note on Thursday, July 19th. Finally, TD Securities began coverage on EQT in a research note on Thursday, July 5th. They set a “hold” rating and a $57.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $69.57.

Shares of NYSE EQT opened at $49.53 on Friday. EQT Co. has a twelve month low of $43.70 and a twelve month high of $66.03. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $13.15 billion, a PE ratio of 33.69, a PEG ratio of 1.51 and a beta of 0.57.

EQT (NYSE:EQT) last issued its quarterly earnings data on Thursday, July 26th. The oil and gas producer reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.07. EQT had a positive return on equity of 3.73% and a negative net margin of 6.19%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The company’s revenue was up 53.1% on a year-over-year basis. research analysts anticipate that EQT Co. will post 2.2 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Friday, August 10th will be paid a $0.03 dividend. The ex-dividend date is Thursday, August 9th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.24%. EQT’s payout ratio is presently 8.16%.

About EQT

EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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