First Manhattan Co. held its stake in EQT Corporation (NYSE:EQT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,450 shares of the oil and gas producer’s stock at the end of the second quarter. First Manhattan Co.’s holdings in EQT Corporation were worth $377,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. increased its stake in EQT Corporation by 3,346.4% in the first quarter. BlackRock Inc. now owns 13,626,409 shares of the oil and gas producer’s stock valued at $832,575,000 after buying an additional 13,231,032 shares during the last quarter. OZ Management LP purchased a new stake in EQT Corporation during the first quarter valued at $281,711,000. State Street Corp increased its stake in EQT Corporation by 13.6% in the first quarter. State Street Corp now owns 10,635,812 shares of the oil and gas producer’s stock valued at $649,846,000 after buying an additional 1,270,294 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in EQT Corporation during the first quarter valued at $70,942,000. Finally, American Century Companies Inc. increased its stake in EQT Corporation by 9.1% in the first quarter. American Century Companies Inc. now owns 9,035,038 shares of the oil and gas producer’s stock valued at $552,041,000 after buying an additional 756,782 shares during the last quarter. Institutional investors and hedge funds own 90.45% of the company’s stock.
EQT Corporation (NYSE EQT) opened at 62.71 on Thursday. EQT Corporation has a one year low of $49.63 and a one year high of $75.74. The firm has a market cap of $10.87 billion, a PE ratio of 2239.64 and a beta of 0.77. The stock has a 50 day moving average price of $60.93 and a 200 day moving average price of $59.87.
EQT Corporation (NYSE:EQT) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas producer reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The firm had revenue of $631.10 million for the quarter, compared to the consensus estimate of $642.21 million. During the same quarter last year, the company earned ($0.35) earnings per share. The business’s revenue for the quarter was up 720.1% compared to the same quarter last year. Equities research analysts expect that EQT Corporation will post $0.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Wednesday, August 9th. EQT Corporation’s dividend payout ratio (DPR) is currently 400.13%.
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Several analysts have weighed in on EQT shares. Stifel Nicolaus boosted their price target on EQT Corporation from $79.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Jefferies Group LLC reiterated a “hold” rating and set a $69.00 price target on shares of EQT Corporation in a research note on Tuesday, July 4th. BidaskClub upgraded EQT Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 16th. ValuEngine downgraded EQT Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Royal Bank Of Canada downgraded EQT Corporation from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $86.00 to $80.00 in a research note on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. EQT Corporation presently has a consensus rating of “Buy” and an average price target of $80.38.
In related news, insider Robert Joseph Mcnally acquired 1,500 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were purchased at an average price of $50.00 per share, with a total value of $75,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David E. Jr. Schlosser acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The stock was bought at an average cost of $50.96 per share, for a total transaction of $509,600.00. The disclosure for this purchase can be found here. Insiders bought 41,901 shares of company stock worth $2,211,775 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.
EQT Corporation Company Profile
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
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