Usca Ria LLC cut its stake in EQT Co. (NYSE:EQT) by 5.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,065 shares of the oil and gas producer’s stock after selling 1,092 shares during the period. Usca Ria LLC’s holdings in EQT were worth $286,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. FMR LLC raised its position in EQT by 18.3% in the fourth quarter. FMR LLC now owns 1,781,419 shares of the oil and gas producer’s stock worth $33,652,000 after acquiring an additional 275,981 shares in the last quarter. State of Alaska Department of Revenue raised its position in EQT by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 27,406 shares of the oil and gas producer’s stock worth $568,000 after acquiring an additional 505 shares in the last quarter. Virtu Financial LLC raised its position in EQT by 83.9% in the first quarter. Virtu Financial LLC now owns 22,914 shares of the oil and gas producer’s stock worth $475,000 after acquiring an additional 10,456 shares in the last quarter. Retirement Systems of Alabama raised its position in EQT by 0.5% in the first quarter. Retirement Systems of Alabama now owns 331,636 shares of the oil and gas producer’s stock worth $6,878,000 after acquiring an additional 1,511 shares in the last quarter. Finally, Sciencast Management LP purchased a new position in EQT in the first quarter worth $203,000. 96.54% of the stock is owned by institutional investors and hedge funds.
Shares of EQT stock traded up $0.22 during mid-day trading on Monday, reaching $12.58. The stock had a trading volume of 114,747 shares, compared to its average volume of 6,252,015. EQT Co. has a 12-month low of $11.47 and a 12-month high of $28.34. The company has a market cap of $3.01 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 1.16 and a beta of 0.57. The business has a 50-day simple moving average of $14.41 and a 200 day simple moving average of $18.06. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44.
EQT (NYSE:EQT) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas producer reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.13. The business had revenue of $958.40 million during the quarter, compared to analysts’ expectations of $929.86 million. EQT had a positive return on equity of 4.25% and a negative net margin of 7.41%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.44 earnings per share. Research analysts anticipate that EQT Co. will post 1.02 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Friday, August 9th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, August 8th. EQT’s payout ratio is currently 7.06%.
Several research analysts have issued reports on the company. Macquarie assumed coverage on EQT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $21.00 price objective for the company. Morgan Stanley dropped their price target on EQT from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, July 26th. TD Securities dropped their price target on EQT from $17.50 to $16.00 and set a “hold” rating for the company in a research report on Friday, July 26th. Finally, Wells Fargo & Co upgraded EQT from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. EQT presently has an average rating of “Hold” and an average price target of $31.03.
In related news, CEO Robert Joseph Mcnally acquired 13,572 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average price of $18.37 per share, with a total value of $249,317.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Erin R. Centofanti sold 2,970 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $16.03, for a total value of $47,609.10. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.
EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.
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