Oppenheimer & Co. Inc. Buys 2,200 Shares of EQT Co. (NYSE:EQT)

Oppenheimer & Co. Inc. raised its stake in EQT Co. (NYSE:EQT) by 9.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,550 shares of the oil and gas producer’s stock after acquiring an additional 2,200 shares during the period. Oppenheimer & Co. Inc.’s holdings in EQT were worth $420,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in shares of EQT by 78.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 64,095 shares of the oil and gas producer’s stock worth $1,329,000 after acquiring an additional 28,183 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of EQT by 13.5% during the first quarter. Victory Capital Management Inc. now owns 1,946,235 shares of the oil and gas producer’s stock worth $40,365,000 after buying an additional 231,390 shares during the last quarter. South Dakota Investment Council boosted its holdings in shares of EQT by 791.4% during the 1st quarter. South Dakota Investment Council now owns 50,810 shares of the oil and gas producer’s stock valued at $1,054,000 after acquiring an additional 45,110 shares in the last quarter. Cidel Asset Management Inc. acquired a new stake in shares of EQT during the first quarter valued at about $207,000. Finally, Mason Street Advisors LLC increased its stake in shares of EQT by 1.7% in the first quarter. Mason Street Advisors LLC now owns 135,475 shares of the oil and gas producer’s stock valued at $2,810,000 after buying an additional 2,206 shares during the period. Hedge funds and other institutional investors own 97.25% of the company’s stock.

Shares of NYSE EQT traded up $0.23 during midday trading on Wednesday, hitting $12.04. 1,809,717 shares of the stock traded hands, compared to its average volume of 5,784,947. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.04. EQT Co. has a one year low of $9.71 and a one year high of $26.77. The business has a 50 day moving average price of $12.12 and a two-hundred day moving average price of $17.08. The company has a market cap of $3.02 billion, a PE ratio of 7.08, a P/E/G ratio of 1.50 and a beta of 0.64.

EQT (NYSE:EQT) last issued its earnings results on Thursday, July 25th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.13. The company had revenue of $958.40 million for the quarter, compared to analysts’ expectations of $929.86 million. EQT had a positive return on equity of 4.25% and a negative net margin of 7.41%. EQT’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. As a group, equities research analysts forecast that EQT Co. will post 0.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Thursday, August 8th. EQT’s dividend payout ratio (DPR) is 7.06%.

In other news, EVP Erin R. Centofanti sold 2,970 shares of EQT stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $16.03, for a total transaction of $47,609.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is currently owned by company insiders.

EQT has been the topic of several recent research reports. Morgan Stanley cut their target price on shares of EQT from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Friday, July 26th. Wells Fargo & Co upgraded EQT from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Monday, May 20th. Macquarie initiated coverage on EQT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $21.00 price target on the stock. Finally, TD Securities decreased their price target on EQT from $17.50 to $16.00 and set a “hold” rating for the company in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $31.03.

About EQT

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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