CMC Financial Group Takes Position in EQT Co. (NYSE:EQT)

CMC Financial Group purchased a new stake in shares of EQT Co. (NYSE:EQT) during the first quarter, HoldingsChannel.com reports. The fund purchased 6,257 shares of the oil and gas producer’s stock, valued at approximately $334,000. EQT comprises about 0.8% of CMC Financial Group’s holdings, making the stock its 18th biggest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in EQT. Invesco Ltd. boosted its holdings in shares of EQT by 46.3% in the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer’s stock worth $606,059,000 after buying an additional 4,162,065 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of EQT by 386.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer’s stock valued at $205,830,000 after buying an additional 3,454,741 shares during the last quarter. Slate Path Capital LP bought a new stake in shares of EQT during the fourth quarter valued at approximately $123,575,000. Castle Hook Partners LP increased its position in EQT by 199.5% in the fourth quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer’s stock worth $184,012,000 after purchasing an additional 2,658,375 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in EQT in the fourth quarter worth $113,924,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

EQT has been the topic of several research reports. Scotiabank restated a “sector perform” rating and issued a $62.00 price target (up previously from $57.00) on shares of EQT in a research report on Thursday, May 22nd. The Goldman Sachs Group reissued a “reduce” rating on shares of EQT in a research note on Wednesday, February 12th. TD Cowen raised shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Tuesday, April 8th. Morgan Stanley upped their price objective on shares of EQT from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered shares of EQT from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, EQT currently has a consensus rating of “Moderate Buy” and an average target price of $57.11.

EQT Stock Performance

EQT opened at $56.38 on Friday. EQT Co. has a 52-week low of $30.02 and a 52-week high of $57.37. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. The company has a market cap of $33.75 billion, a P/E ratio of 140.95, a price-to-earnings-growth ratio of 0.64 and a beta of 0.65. The firm’s 50-day moving average price is $52.59 and its 200-day moving average price is $50.29.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.20. EQT had a net margin of 4.37% and a return on equity of 4.35%. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.16 billion. As a group, equities analysts anticipate that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.12%. EQT’s dividend payout ratio (DPR) is 110.53%.

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.