EQT Corporation $EQT Shares Purchased by Palogic Value Management L.P.

Palogic Value Management L.P. raised its position in shares of EQT Corporation (NYSE:EQT) by 96.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,198 shares of the oil and gas producer’s stock after buying an additional 9,433 shares during the quarter. Palogic Value Management L.P.’s holdings in EQT were worth $1,021,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EQT. Greykasell Wealth Strategies Inc. acquired a new position in EQT in the 4th quarter worth about $26,000. Meeder Asset Management Inc. acquired a new position in shares of EQT during the 2nd quarter worth about $26,000. Wedbush Fund Advisers LLC grew its stake in shares of EQT by 251.8% in the second quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock worth $31,000 after acquiring an additional 413 shares during the last quarter. Gables Capital Management Inc. bought a new stake in shares of EQT in the second quarter valued at about $37,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of EQT during the 4th quarter worth approximately $49,000. 90.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $55.03, for a total value of $9,648,299.84. Following the completion of the sale, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 274,042 shares of company stock worth $15,005,076. 0.72% of the stock is owned by corporate insiders.

EQT Stock Performance

NYSE:EQT opened at $54.79 on Thursday. The stock has a market capitalization of $34.27 billion, a P/E ratio of 12.71 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The firm has a 50 day moving average of $52.17 and a 200-day moving average of $56.43.

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

EQT Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on the company. Freedom Capital raised EQT to a “strong-buy” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. decreased their target price on shares of EQT from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 23rd. Stephens upped their target price on shares of EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. BMO Capital Markets cut their price target on shares of EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, UBS Group lowered their price objective on EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.10.

About EQT

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.