Corient Private Wealth LP Takes $6.12 Million Position in EQT Corporation $EQT

Corient Private Wealth LP purchased a new stake in EQT Corporation (NYSE:EQT) during the second quarter, HoldingsChannel.com reports. The firm purchased 115,098 shares of the oil and gas producer’s stock, valued at approximately $6,119,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC grew its stake in shares of EQT by 1.0% during the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock worth $1,022,000 after purchasing an additional 198 shares during the period. Root Financial Partners LLC lifted its stake in EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 202 shares during the period. Rothschild Investment LLC lifted its stake in EQT by 0.5% in the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock valued at $2,497,000 after buying an additional 215 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in EQT by 4.0% during the first quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock worth $392,000 after buying an additional 236 shares during the last quarter. Finally, Wedbush Fund Advisers LLC boosted its holdings in EQT by 251.8% during the second quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock worth $31,000 after buying an additional 413 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on EQT. Stephens upped their price target on EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Jefferies Financial Group reduced their price objective on shares of EQT from $77.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. UBS Group decreased their price objective on shares of EQT from $74.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. BMO Capital Markets decreased their price objective on shares of EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Finally, Freedom Capital raised shares of EQT to a “strong-buy” rating in a research note on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.10.

Insider Transactions at EQT

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of the firm’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 sale, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 274,042 shares of company stock worth $15,005,076. 0.72% of the stock is currently owned by corporate insiders.

EQT Stock Down 0.5%

NYSE:EQT opened at $54.28 on Tuesday. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The stock has a market cap of $33.95 billion, a price-to-earnings ratio of 12.59 and a beta of 0.58. The stock has a 50-day moving average price of $52.38 and a two-hundred day moving average price of $56.40.

EQT (NYSE:EQT) last announced its quarterly earnings results 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). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The firm’s revenue was down 29.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. As a group, equities analysts expect that EQT Corporation will post 3.96 earnings per share for the current year.

EQT Dividend Announcement

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

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.