Wesbanco Bank Inc. lowered its position in shares of EQT Co. (NYSE:EQT) by 57.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 86,772 shares of the oil and gas producer’s stock after selling 116,813 shares during the quarter. Wesbanco Bank Inc.’s holdings in EQT were worth $4,788,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of EQT. FDx Advisors Inc. increased its position in shares of EQT by 89.1% during the 1st quarter. FDx Advisors Inc. now owns 21,444 shares of the oil and gas producer’s stock worth $1,019,000 after purchasing an additional 10,101 shares in the last quarter. Rhumbline Advisers increased its position in shares of EQT by 0.7% during the 1st quarter. Rhumbline Advisers now owns 456,179 shares of the oil and gas producer’s stock worth $21,673,000 after purchasing an additional 3,201 shares in the last quarter. S&CO Inc. increased its position in shares of EQT by 22.6% during the 1st quarter. S&CO Inc. now owns 33,147 shares of the oil and gas producer’s stock worth $1,575,000 after purchasing an additional 6,109 shares in the last quarter. Fulton Bank N.A. acquired a new stake in shares of EQT during the 1st quarter worth about $245,000. Finally, Commerzbank Aktiengesellschaft FI increased its position in EQT by 30.2% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 15,410 shares of the oil and gas producer’s stock valued at $732,000 after acquiring an additional 3,574 shares in the last quarter. 91.18% of the stock is owned by institutional investors.
Shares of EQT opened at $49.67 on Monday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.76 and a current ratio of 0.76. EQT Co. has a twelve month low of $43.70 and a twelve month high of $66.03. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 33.79, a P/E/G ratio of 1.51 and a beta of 0.57.
EQT (NYSE:EQT) last announced its quarterly earnings results 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 negative net margin of 6.19% and a positive return on equity of 3.73%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm posted $0.06 earnings per share. The business’s revenue was up 53.1% on a year-over-year basis. analysts anticipate that EQT Co. will post 2.2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Friday, August 10th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, August 9th. EQT’s payout ratio is currently 8.16%.
In other EQT news, Director Kenneth Michael Burke acquired 5,000 shares of the stock in a transaction dated Thursday, August 9th. The shares were bought at an average cost of $50.20 per share, for a total transaction of $251,000.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $251,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Joseph Mcnally acquired 4,000 shares of the stock in a transaction dated Wednesday, June 6th. The stock was acquired at an average price of $51.18 per share, for a total transaction of $204,720.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 9,385 shares of company stock worth $476,964. Insiders own 0.68% of the company’s stock.
Several equities research analysts have weighed in on EQT shares. Morgan Stanley raised their price objective on shares of EQT from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Friday, April 27th. ValuEngine cut shares of EQT from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. TheStreet cut shares of EQT from a “c” rating to a “d+” rating in a research report on Monday, April 30th. Stifel Nicolaus started coverage on shares of EQT in a research report on Wednesday, May 23rd. They issued a “buy” rating and a $65.00 price objective for the company. Finally, JPMorgan Chase & Co. set a $70.00 price objective on shares of EQT and gave the company a “buy” rating in a research report on Wednesday, June 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $69.57.
EQT Company Profile
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.
Further Reading: Technical Analysis
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