Hawk Ridge Capital Management LP acquired a new stake in shares of EQT Co. (NYSE:EQT) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 281,500 shares of the oil and gas producer’s stock, valued at approximately $3,068,000. Hawk Ridge Capital Management LP owned 0.11% of EQT at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. increased its position in shares of EQT by 932.3% during the fourth quarter. Meeder Asset Management Inc. now owns 3,035 shares of the oil and gas producer’s stock worth $33,000 after acquiring an additional 2,741 shares in the last quarter. Rational Advisors LLC increased its position in shares of EQT by 160.9% during the fourth quarter. Rational Advisors LLC now owns 6,567 shares of the oil and gas producer’s stock worth $72,000 after acquiring an additional 4,050 shares in the last quarter. Magnus Financial Group LLC bought a new stake in shares of EQT during the fourth quarter worth about $112,000. Arden Trust Co bought a new stake in shares of EQT during the fourth quarter worth about $116,000. Finally, Neo Ivy Capital Management bought a new stake in shares of EQT during the third quarter worth about $108,000. 98.75% of the stock is owned by institutional investors.
A number of brokerages have issued reports on EQT. Stifel Nicolaus reduced their price objective on shares of EQT from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, January 27th. MKM Partners raised shares of EQT from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $12.00 to $10.00 in a research report on Monday, March 2nd. TD Securities upped their price objective on shares of EQT from $7.50 to $9.50 and gave the stock a “hold” rating in a research report on Tuesday, March 17th. Royal Bank of Canada reduced their price objective on shares of EQT from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Finally, ValuEngine raised shares of EQT from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $12.67.
Shares of EQT stock traded down $0.27 on Wednesday, reaching $6.98. 90,449 shares of the company traded hands, compared to its average volume of 15,190,541. EQT Co. has a 52 week low of $4.21 and a 52 week high of $21.86. The company has a 50 day moving average of $6.37 and a 200 day moving average of $8.90. The firm has a market capitalization of $1.55 billion, a PE ratio of -1.47 and a beta of 0.58. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30.
EQT (NYSE:EQT) last released its earnings results on Thursday, February 27th. The oil and gas producer reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.12). The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $947.67 million. EQT had a negative net margin of 27.66% and a positive return on equity of 1.97%. The firm’s revenue was down 18.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.70 earnings per share. As a group, analysts anticipate that EQT Co. will post -0.37 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, March 1st. Investors of record on Friday, February 14th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Thursday, February 13th. EQT’s payout ratio is currently 14.46%.
EQT Company Profile
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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