EQT Co. (NYSE:EQT) Shares Purchased by Viking Fund Management LLC

Viking Fund Management LLC boosted its holdings in shares of EQT Co. (NYSE:EQT) by 120.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 110,000 shares of the oil and gas producer’s stock after buying an additional 60,000 shares during the quarter. Viking Fund Management LLC’s holdings in EQT were worth $5,072,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its position in EQT by 2.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 230,697 shares of the oil and gas producer’s stock valued at $8,531,000 after purchasing an additional 6,427 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in EQT by 25.7% in the second quarter. Mercer Global Advisors Inc. ADV now owns 12,046 shares of the oil and gas producer’s stock valued at $478,000 after acquiring an additional 2,463 shares in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in EQT by 19.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 43,636 shares of the oil and gas producer’s stock valued at $1,614,000 after acquiring an additional 7,139 shares in the last quarter. AE Wealth Management LLC purchased a new position in EQT in the second quarter worth approximately $230,000. Finally, Thrivent Financial for Lutherans grew its holdings in EQT by 6.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 17,817 shares of the oil and gas producer’s stock worth $659,000 after acquiring an additional 1,044 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Activity

In related news, Director Thomas F. Karam sold 30,154 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $44.83, for a total value of $1,351,803.82. Following the sale, the director now directly owns 201,608 shares in the company, valued at $9,038,086.64. The trade was a 13.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Scotiabank cut shares of EQT from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $55.00 to $54.00 in a research report on Friday, January 17th. Sanford C. Bernstein raised EQT from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a report on Wednesday, January 15th. BMO Capital Markets upped their price objective on EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th. Citigroup boosted their target price on EQT from $44.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group increased their price target on shares of EQT from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.89.

EQT Price Performance

Shares of EQT opened at $53.33 on Wednesday. The firm has a 50-day simple moving average of $46.01 and a 200-day simple moving average of $38.91. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $53.98. The company has a market capitalization of $31.82 billion, a price-to-earnings ratio of 63.48 and a beta of 1.12. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 earnings per share. On average, equities research analysts anticipate that EQT Co. will post 1.42 earnings per share for the current year.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.