CX Institutional Purchases 1,910 Shares of EQT Co. (NYSE:EQT)

CX Institutional boosted its stake in shares of EQT Co. (NYSE:EQT) by 2.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,241 shares of the oil and gas producer’s stock after acquiring an additional 1,910 shares during the quarter. CX Institutional’s holdings in EQT were worth $2,561,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Private Wealth Management Group LLC acquired a new stake in EQT in the fourth quarter worth about $30,000. Principal Securities Inc. acquired a new stake in shares of EQT in the 4th quarter valued at approximately $51,000. EntryPoint Capital LLC acquired a new stake in EQT in the first quarter worth $54,000. Massmutual Trust Co. FSB ADV increased its position in shares of 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 buying an additional 434 shares in the last quarter. Finally, Mather Group LLC. raised its stake in EQT by 214.0% during the 2nd quarter. Mather Group LLC. now owns 1,790 shares of the oil and gas producer’s stock worth $66,000 after buying an additional 1,220 shares during the period. 90.81% of the stock is owned by institutional investors.

EQT Price Performance

EQT stock traded down $0.19 during trading on Friday, reaching $30.77. 306,725 shares of the company were exchanged, compared to its average volume of 7,162,361. EQT Co. has a twelve month low of $30.02 and a twelve month high of $45.23. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $13.59 billion, a price-to-earnings ratio of 22.43 and a beta of 1.12. The company has a 50-day moving average of $36.78 and a two-hundred day moving average of $37.01.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned ($0.17) earnings per share. The business’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, equities analysts predict that EQT Co. will post 1.4 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.63 dividend on an annualized basis and a yield of 2.05%. EQT’s payout ratio is 45.65%.

Insiders Place Their Bets

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

Analyst Ratings Changes

EQT has been the subject of several research analyst reports. Morgan Stanley upped their price target on shares of EQT from $37.00 to $49.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Wells Fargo & Company lowered EQT from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $48.00 to $37.00 in a report on Wednesday, April 17th. TD Cowen initiated coverage on EQT in a report on Friday, April 19th. They set a “hold” rating and a $43.00 price objective for the company. Stephens cut their target price on EQT from $47.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. raised shares of EQT from a “neutral” rating to an “overweight” rating and set a $42.00 price target for the company in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $45.50.

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.