Profund Advisors LLC Sells 3,090 Shares of EQT Co. (NYSE:EQT)

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Profund Advisors LLC lessened its position in EQT Co. (NYSE:EQT) by 11.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,567 shares of the oil and gas producer’s stock after selling 3,090 shares during the quarter. Profund Advisors LLC’s holdings in EQT were worth $388,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in EQT by 1.2% in the first quarter. BlackRock Inc. now owns 24,187,944 shares of the oil and gas producer’s stock valued at $501,658,000 after acquiring an additional 294,842 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in EQT in the second quarter valued at $115,579,000. Neuberger Berman Group LLC increased its stake in EQT by 51.4% in the first quarter. Neuberger Berman Group LLC now owns 3,268,982 shares of the oil and gas producer’s stock valued at $67,791,000 after acquiring an additional 1,109,707 shares during the last quarter. Northern Trust Corp increased its stake in EQT by 4.7% in the second quarter. Northern Trust Corp now owns 2,061,569 shares of the oil and gas producer’s stock valued at $32,593,000 after acquiring an additional 93,116 shares during the last quarter. Finally, Tortoise Capital Advisors L.L.C. increased its stake in EQT by 54.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 1,759,160 shares of the oil and gas producer’s stock valued at $36,485,000 after acquiring an additional 623,081 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

EQT has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on EQT from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, July 26th. TD Securities reduced their target price on EQT from $17.50 to $16.00 and set a “hold” rating on the stock in a research note on Friday, July 26th. Macquarie initiated coverage on EQT in a research note on Wednesday, May 29th. They issued a “neutral” rating and a $21.00 target price on the stock. Finally, Wells Fargo & Co reduced their target price on EQT from $29.00 to $27.00 and set an “outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $30.70.

Shares of NYSE:EQT traded down $0.05 on Friday, reaching $11.46. 8,395,101 shares of the company traded hands, compared to its average volume of 6,504,645. The business’s 50-day simple moving average is $11.65 and its 200 day simple moving average is $16.77. EQT Co. has a 52 week low of $9.71 and a 52 week high of $26.77. The stock has a market capitalization of $3.13 billion, a P/E ratio of 5.95, a price-to-earnings-growth ratio of 1.57 and a beta of 0.64. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.44.

EQT (NYSE:EQT) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.13. EQT had a positive return on equity of 4.25% and a negative net margin of 7.41%. The firm had revenue of $958.40 million for the quarter, compared to analysts’ expectations of $929.86 million. During the same period last year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Sell-side analysts expect that EQT Co. will post 0.78 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Friday, August 9th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, August 8th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.05%. EQT’s dividend payout ratio (DPR) is currently 7.06%.

EQT Company 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.

Further Reading: What is the return on assets (ROA) ratio?

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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