Birchview Capital LP lowered its stake in EQT Co. (NYSE:EQT) by 18.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 31,300 shares of the oil and gas producer’s stock after selling 7,000 shares during the quarter. EQT comprises about 0.9% of Birchview Capital LP’s holdings, making the stock its 13th largest position. Birchview Capital LP’s holdings in EQT were worth $1,384,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Piedmont Investment Advisors LLC acquired a new stake in shares of EQT in the second quarter valued at about $163,000. Cerebellum GP LLC grew its stake in shares of EQT by 71.4% in the third quarter. Cerebellum GP LLC now owns 3,488 shares of the oil and gas producer’s stock valued at $154,000 after buying an additional 1,453 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of EQT in the second quarter valued at about $207,000. Dupont Capital Management Corp grew its stake in shares of EQT by 48.7% in the second quarter. Dupont Capital Management Corp now owns 3,876 shares of the oil and gas producer’s stock valued at $214,000 after buying an additional 1,270 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new stake in shares of EQT in the second quarter valued at about $222,000. Institutional investors and hedge funds own 91.66% of the company’s stock.
Shares of EQT opened at $34.88 on Friday. The stock has a market capitalization of $8.36 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 0.92 and a beta of 0.60. EQT Co. has a one year low of $30.53 and a one year high of $66.03. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.48.
EQT (NYSE:EQT) last issued its quarterly earnings results on Thursday, October 25th. The oil and gas producer reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.11 billion. EQT had a positive return on equity of 3.77% and a negative net margin of 6.86%. During the same quarter in the prior year, the business posted $0.12 earnings per share. On average, research analysts anticipate that EQT Co. will post 2.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Friday, November 9th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date of this dividend is Thursday, November 8th. EQT’s dividend payout ratio is currently 8.16%.
In other news, Director Kenneth Michael Burke bought 5,000 shares of EQT stock in a transaction on Thursday, August 9th. The shares were bought at an average price of $50.20 per share, with a total value of $251,000.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $251,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Joseph Mcnally bought 15,800 shares of EQT stock in a transaction on Wednesday, October 31st. The shares were purchased at an average cost of $34.16 per share, for a total transaction of $539,728.00. The disclosure for this purchase can be found here. Insiders purchased 21,280 shares of company stock valued at $811,958 in the last three months. 0.68% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on EQT. TheStreet upgraded EQT from a “d+” rating to a “c-” rating in a research note on Monday, July 23rd. Royal Bank of Canada set a $53.00 target price on EQT and gave the company a “buy” rating in a research note on Saturday, October 27th. Morgan Stanley reduced their price target on EQT from $64.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, July 12th. TD Securities began coverage on EQT in a report on Thursday, July 5th. They issued a “hold” rating and a $57.00 price target for the company. Finally, BMO Capital Markets downgraded EQT from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $55.00 to $40.00 in a report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $57.77.
EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.
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