Xact Kapitalforvaltning AB reduced its position in EQT Co. (NYSE:EQT) by 9.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 26,165 shares of the oil and gas producer’s stock after selling 2,609 shares during the period. Xact Kapitalforvaltning AB’s holdings in EQT were worth $1,157,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC grew its stake in EQT by 20.0% in the 2nd quarter. Chartwell Investment Partners LLC now owns 67,165 shares of the oil and gas producer’s stock worth $3,706,000 after acquiring an additional 11,190 shares during the period. Tredje AP fonden grew its stake in EQT by 57.6% in the 2nd quarter. Tredje AP fonden now owns 16,142 shares of the oil and gas producer’s stock worth $891,000 after acquiring an additional 5,902 shares during the period. US Bancorp DE grew its stake in EQT by 8.2% in the 2nd quarter. US Bancorp DE now owns 35,561 shares of the oil and gas producer’s stock worth $1,962,000 after acquiring an additional 2,692 shares during the period. Advisors Asset Management Inc. grew its stake in EQT by 10.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 20,488 shares of the oil and gas producer’s stock worth $1,209,000 after acquiring an additional 1,869 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its stake in EQT by 112.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 56,357 shares of the oil and gas producer’s stock worth $3,110,000 after acquiring an additional 29,831 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE EQT opened at $32.63 on Monday. EQT Co. has a 52-week low of $30.53 and a 52-week high of $66.03. The firm has a market cap of $8.30 billion, a PE ratio of 22.20, a P/E/G ratio of 0.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.47 and a quick ratio of 0.47.
EQT (NYSE:EQT) last announced its quarterly earnings data on Thursday, October 25th. The oil and gas producer reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. EQT had a negative net margin of 6.86% and a positive return on equity of 3.77%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $0.12 EPS. As a group, sell-side analysts expect that EQT Co. will post 2.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Friday, November 9th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.12 annualized dividend and a dividend yield of 0.37%. EQT’s payout ratio is 8.16%.
Several analysts have commented on EQT shares. Jefferies Financial Group set a $39.00 target price on shares of EQT and gave the stock a “hold” rating in a research note on Sunday, October 28th. Morgan Stanley lowered their price objective on shares of EQT from $54.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, September 26th. Royal Bank of Canada set a $53.00 price objective on shares of EQT and gave the company a “buy” rating in a research note on Saturday, October 27th. Goldman Sachs Group started coverage on shares of EQT in a research note on Monday, September 17th. They set a “neutral” rating and a $54.00 price objective for the company. Finally, Credit Suisse Group set a $48.00 price objective on shares of EQT and gave the company a “buy” rating in a research note on Friday, October 26th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $57.77.
In other EQT news, Director James E. Rohr bought 10,000 shares of EQT stock in a transaction that occurred on Thursday, November 1st. The shares were acquired at an average price of $34.66 per share, for a total transaction of $346,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth Michael Burke bought 5,000 shares of EQT stock in a transaction that occurred on Thursday, August 9th. The shares were acquired at an average price of $50.20 per share, for a total transaction of $251,000.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $251,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 31,280 shares of company stock worth $1,158,558 in the last 90 days. Company insiders own 0.68% of the company’s stock.
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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