EQT Corporation (EQT) Position Increased by Mitchell Group Inc.
Mitchell Group Inc. raised its position in shares of EQT Corporation (NYSE:EQT) by 11.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 555,569 shares of the oil and gas producer’s stock after buying an additional 55,330 shares during the period. EQT Corporation comprises 5.1% of Mitchell Group Inc.’s investment portfolio, making the stock its 3rd largest position. Mitchell Group Inc. owned approximately 0.32% of EQT Corporation worth $32,551,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Whittier Trust Co. boosted its stake in shares of EQT Corporation by 3.6% in the second quarter. Whittier Trust Co. now owns 171,209 shares of the oil and gas producer’s stock worth $10,031,000 after buying an additional 5,872 shares during the period. South Dakota Investment Council purchased a new position in shares of EQT Corporation during the first quarter worth about $354,000. Knights of Columbus Asset Advisors LLC purchased a new position in shares of EQT Corporation during the first quarter worth about $760,000. BlackRock Inc. boosted its position in shares of 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 worth $832,575,000 after buying an additional 13,231,032 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of EQT Corporation by 9.9% in the first quarter. Clearbridge Investments LLC now owns 20,969 shares of the oil and gas producer’s stock worth $1,281,000 after buying an additional 1,890 shares during the last quarter. Hedge funds and other institutional investors own 90.55% of the company’s stock.
Shares of EQT Corporation (EQT) traded up 0.43% during midday trading on Friday, reaching $62.61. 1,776,219 shares of the company’s stock were exchanged. The company’s 50-day moving average is $62.30 and its 200-day moving average is $59.67. The stock has a market cap of $10.85 billion, a P/E ratio of 2236.07 and a beta of 0.79. EQT Corporation has a one year low of $49.63 and a one year high of $75.74.
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, beating the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $631.10 million during the quarter, compared to analysts’ expectations of $642.21 million. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The business’s revenue was up 720.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.35) earnings per share. Equities analysts expect that EQT Corporation will post $1.00 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Wednesday, August 9th. EQT Corporation’s dividend payout ratio (DPR) is presently 400.13%.
A number of equities analysts recently issued reports on EQT shares. Stifel Nicolaus upped their price target on shares of EQT Corporation from $79.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Royal Bank Of Canada reiterated a “buy” rating and issued a $86.00 price target on shares of EQT Corporation in a research note on Friday, June 2nd. KLR Group reiterated a “buy” rating and issued a $102.00 price target (up previously from $92.00) on shares of EQT Corporation in a research note on Monday, June 26th. Cowen and Company set a $80.00 price target on shares of EQT Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Finally, BMO Capital Markets set a $70.00 price target on shares of EQT Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $79.75.
In other news, Director A. Bray Jr. Cary purchased 28,000 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was purchased at an average cost of $53.55 per share, for a total transaction of $1,499,400.00. Following the completion of the transaction, the director now owns 22,627 shares of the company’s stock, valued at $1,211,675.85. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven T. Schlotterbeck purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were purchased at an average price of $52.14 per share, with a total value of $104,280.00. Following the completion of the transaction, the chief executive officer now directly owns 115,178 shares of the company’s stock, valued at approximately $6,005,380.92. The disclosure for this purchase can be found here. Insiders bought 41,901 shares of company stock valued at $2,211,775 over the last 90 days. Company insiders own 1.00% of the company’s stock.
About EQT Corporation
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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