Trexquant Investment LP Increases Stake in EQT Co. (NYSE:EQT)

Trexquant Investment LP grew its stake in shares of EQT Co. (NYSE:EQT) by 9.2% during the first quarter, HoldingsChannel reports. The firm owned 124,051 shares of the oil and gas producer’s stock after purchasing an additional 10,422 shares during the quarter. Trexquant Investment LP’s holdings in EQT were worth $2,573,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in EQT. State of Alaska Department of Revenue boosted its stake in EQT by 1.9% during the first quarter. State of Alaska Department of Revenue now owns 27,406 shares of the oil and gas producer’s stock worth $568,000 after acquiring an additional 505 shares in the last quarter. LMR Partners LLP boosted its stake in EQT by 3.4% during the fourth quarter. LMR Partners LLP now owns 17,245 shares of the oil and gas producer’s stock worth $326,000 after acquiring an additional 563 shares in the last quarter. Keeley Teton Advisors LLC boosted its stake in EQT by 1.2% during the fourth quarter. Keeley Teton Advisors LLC now owns 52,582 shares of the oil and gas producer’s stock worth $993,000 after acquiring an additional 645 shares in the last quarter. Eaton Vance Management boosted its stake in EQT by 0.3% during the fourth quarter. Eaton Vance Management now owns 196,459 shares of the oil and gas producer’s stock worth $3,711,000 after acquiring an additional 677 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in EQT by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 68,200 shares of the oil and gas producer’s stock worth $1,414,000 after acquiring an additional 700 shares in the last quarter. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE EQT traded down $0.81 during midday trading on Wednesday, hitting $15.85. The stock had a trading volume of 159,506 shares, compared to its average volume of 4,151,908. The company has a market cap of $4.07 billion, a PE ratio of 9.37, a P/E/G ratio of 1.25 and a beta of 0.74. EQT Co. has a 52 week low of $16.29 and a 52 week high of $31.28. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.63 and a current ratio of 0.63.

EQT (NYSE:EQT) last issued its earnings results on Thursday, April 25th. The oil and gas producer reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.11. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.17 billion. EQT had a negative net margin of 10.17% and a positive return on equity of 4.51%. The business’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.67 earnings per share. On average, analysts forecast that EQT Co. will post 1.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.76%. EQT’s dividend payout ratio is presently 7.06%.

In related news, EVP Erin R. Centofanti acquired 7,765 shares of the firm’s stock in a transaction dated Friday, March 29th. The stock was purchased at an average cost of $20.83 per share, with a total value of $161,744.95. Following the completion of the acquisition, the executive vice president now directly owns 59,594 shares of the company’s stock, valued at $1,241,343.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert Joseph Mcnally acquired 13,572 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were bought at an average cost of $18.37 per share, with a total value of $249,317.64. The disclosure for this purchase can be found here. In the last quarter, insiders bought 41,082 shares of company stock worth $815,633. Insiders own 0.68% of the company’s stock.

Several equities research analysts recently commented on EQT shares. TD Securities boosted their price objective on shares of EQT from $23.00 to $25.00 and gave the stock a “hold” rating in a research note on Monday, April 29th. Cowen started coverage on shares of EQT in a research note on Tuesday, April 9th. They set a “market perform” rating and a $24.00 price objective on the stock. MKM Partners reissued a “neutral” rating and set a $23.00 price objective on shares of EQT in a research note on Tuesday, April 16th. Macquarie started coverage on shares of EQT in a research note on Wednesday, May 29th. They set a “neutral” rating and a $21.00 price objective on the stock. Finally, Wells Fargo & Co raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Monday, May 20th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $34.38.

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EQT Profile

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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