Cibc World Market Inc. Buys Shares of 384,314 EQT Corporation $EQT

Cibc World Market Inc. purchased a new position in EQT Corporation (NYSE:EQT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 384,314 shares of the oil and gas producer’s stock, valued at approximately $20,434,000.

A number of other large investors have also made changes to their positions in EQT. BlackRock Inc. purchased a new position in EQT during the 2nd quarter worth $3,204,125,000. Bank of New York Mellon Corp purchased a new stake in EQT in the second quarter valued at about $512,148,000. Deutsche Bank AG acquired a new stake in EQT in the second quarter worth about $119,461,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in EQT in the second quarter worth about $110,177,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of EQT during the second quarter valued at about $78,630,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Toby Z. Rice sold 175,328 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer directly owned 2,157,865 shares in the company, valued at $118,747,310.95. The trade was a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 274,042 shares of company stock worth $15,005,076 over the last three months. Company insiders own 0.72% of the company’s stock.

EQT Trading Up 0.1%

EQT stock opened at $53.76 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 52 week low of $47.94 and a 52 week high of $68.24. The company has a market capitalization of $33.63 billion, a price-to-earnings ratio of 12.47 and a beta of 0.58. The stock has a 50-day moving average price of $52.05 and a 200 day moving average price of $56.45.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter last year, the company posted $0.45 EPS. EQT’s quarterly revenue was down 29.2% compared to the same quarter last year. Sell-side analysts anticipate that EQT Corporation will post 3.97 EPS for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT’s dividend payout ratio (DPR) is 15.31%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on EQT shares. Freedom Capital raised shares of EQT to a “strong-buy” rating in a research report on Tuesday, June 30th. UBS Group cut their price target on shares of EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Morgan Stanley decreased their price target on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. Capital One Financial lifted their price objective on shares of EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Finally, Citigroup dropped their price objective on shares of EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $68.10.

EQT Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.