Core Capital Management & Research inc. Takes Position in EQT Corporation $EQT

Core Capital Management & Research inc. purchased a new position in shares of EQT Corporation (NYSE:EQT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 20,000 shares of the oil and gas producer’s stock, valued at approximately $1,074,000.

Several other institutional investors have also recently made changes to their positions in EQT. Caxton Associates LLP purchased a new stake in EQT in the first quarter valued at $256,000. Focus Partners Wealth grew its holdings in shares of EQT by 9.0% during the 1st quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock worth $1,156,000 after purchasing an additional 1,789 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of EQT by 495.2% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after purchasing an additional 106,545 shares during the period. Captrust Financial Advisors increased its position in shares of EQT by 39.4% during the 2nd quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock worth $1,786,000 after purchasing an additional 8,658 shares during the last quarter. Finally, Horizon Investments LLC increased its position in shares of EQT by 43.6% during the 3rd quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock worth $4,640,000 after purchasing an additional 25,971 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Insider Transactions at EQT

In other EQT news, CEO Toby Rice sold 175,328 shares of the business’s stock in a transaction that occurred 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 owned 2,157,865 shares in the company, valued at $118,747,310.95. The trade was a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EQT. Stephens increased their target price on shares of EQT from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 22nd. UBS Group decreased their price objective on shares of EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Morgan Stanley lowered their price objective on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Wall Street Zen downgraded shares of EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Freedom Capital raised EQT to a “strong-buy” rating in a research report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

EQT Price Performance

Shares of NYSE EQT opened at $54.61 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market cap of $34.16 billion, a price-to-earnings ratio of 12.67 and a beta of 0.58. The stock’s 50-day moving average is $52.82 and its two-hundred day moving average is $56.26. EQT Corporation has a 1-year low of $47.94 and a 1-year high of $68.24.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the business posted $0.45 EPS. The business’s quarterly revenue was down 29.2% compared to the same quarter last year. Analysts forecast that EQT Corporation will post 3.96 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th were paid a $0.165 dividend. The ex-dividend date was Wednesday, August 5th. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. EQT’s payout ratio is currently 15.31%.

About EQT

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company primarily develops and operates unconventional oil and gas properties in the Appalachian Basin, with a focus on natural gas production from the Marcellus and Utica shale formations.

EQT’s products include natural gas, natural gas liquids and condensate. Its operations span drilling, well completion, production and related gathering activities, supporting the delivery of energy to utilities, industrial customers, marketers and other buyers.