EQT Co. (NYSE:EQT) Shares Purchased by DNB Asset Management AS

DNB Asset Management AS boosted its stake in EQT Co. (NYSE:EQT) by 11.7% in the 2nd quarter, Holdings Channel reports. The firm owned 78,924 shares of the oil and gas producer’s stock after purchasing an additional 8,298 shares during the period. DNB Asset Management AS’s holdings in EQT were worth $2,919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC purchased a new position in shares of EQT during the fourth quarter worth $30,000. Principal Securities Inc. purchased a new position in EQT during the 4th quarter valued at about $51,000. EntryPoint Capital LLC purchased a new position in EQT during the 1st quarter valued at about $54,000. Massmutual Trust Co. FSB ADV grew its position in EQT by 40.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock valued at $55,000 after acquiring an additional 434 shares in the last quarter. Finally, First United Bank & Trust purchased a new stake in EQT during the fourth quarter worth about $69,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EQT. Jefferies Financial Group raised their price objective on shares of EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. BMO Capital Markets boosted their price target on shares of EQT from $40.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Morgan Stanley upped their price objective on EQT from $37.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. JPMorgan Chase & Co. upgraded EQT from a “neutral” rating to an “overweight” rating and set a $42.00 target price for the company in a report on Tuesday, July 23rd. Finally, StockNews.com raised EQT to a “sell” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $45.50.

Insiders Place Their Bets

In other news, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the sale, the executive vice president now directly owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other EQT news, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the transaction, the insider now directly owns 160,884 shares of the company’s stock, valued at approximately $6,642,900.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP William E. Jordan sold 35,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at approximately $18,602,402.64. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.

EQT Stock Performance

Shares of EQT stock traded up $0.60 during mid-day trading on Tuesday, hitting $30.81. 7,242,584 shares of the stock were exchanged, compared to its average volume of 7,189,336. EQT Co. has a 12-month low of $30.02 and a 12-month high of $45.23. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 22.32 and a beta of 1.12. The stock’s fifty day simple moving average is $37.41 and its two-hundred day simple moving average is $37.14.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the business posted ($0.17) EPS. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. On average, analysts forecast that EQT Co. will post 1.4 EPS for the current year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, August 7th. EQT’s dividend payout ratio is currently 45.65%.

EQT Profile

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.