Moody National Bank Trust Division Purchases 2,629 Shares of EQT Co. (NYSE:EQT)

Moody National Bank Trust Division increased its stake in shares of EQT Co. (NYSE:EQT) by 7.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,048 shares of the oil and gas producer’s stock after acquiring an additional 2,629 shares during the quarter. Moody National Bank Trust Division’s holdings in EQT were worth $1,333,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EQT. Private Wealth Management Group LLC bought a new position in EQT during the fourth quarter valued at $30,000. Principal Securities Inc. bought a new position in EQT during the fourth quarter valued at $51,000. EntryPoint Capital LLC bought a new position in EQT during the first quarter valued at $54,000. Massmutual Trust Co. FSB ADV lifted its position in EQT by 40.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,498 shares of the oil and gas producer’s stock valued at $55,000 after purchasing an additional 434 shares during the last quarter. Finally, First United Bank & Trust bought a new position in EQT during the fourth quarter valued at $69,000. Institutional investors own 90.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on EQT. Wolfe Research began coverage on shares of EQT in a research report on Thursday, July 18th. They set an “outperform” rating and a $51.00 price objective for the company. Wells Fargo & Company downgraded shares of EQT from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $48.00 to $37.00 in a research note on Wednesday, April 17th. JPMorgan Chase & Co. raised shares of EQT from a “neutral” rating to an “overweight” rating and set a $42.00 target price on the stock in a research note on Tuesday, July 23rd. Mizuho increased their target price on shares of EQT from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Finally, Scotiabank increased their target price on shares of EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.50.

EQT Stock Down 4.3 %

NYSE EQT traded down $1.36 during trading on Monday, reaching $30.21. 8,523,308 shares of the company’s stock traded hands, compared to its average volume of 7,188,946. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $13.34 billion, a price-to-earnings ratio of 21.81 and a beta of 1.12. The company’s 50 day simple moving average is $37.61 and its two-hundred day simple moving average is $37.17. EQT Co. has a 12-month low of $30.02 and a 12-month high of $45.23.

EQT (NYSE:EQT) last posted its earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The business had revenue of $952.51 million for the quarter, compared to the consensus estimate of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The company’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) EPS. As a group, sell-side analysts forecast that EQT Co. will post 1.4 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, August 7th. EQT’s dividend payout ratio is currently 45.65%.

Insider Activity

In other news, EVP William E. Jordan sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the sale, the executive vice president now directly owns 456,837 shares in the company, valued at approximately $18,602,402.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the sale, the executive vice president now directly owns 456,837 shares in the company, valued at approximately $18,602,402.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lesley Evancho sold 46,884 shares of EQT stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $41.29, for a total transaction of $1,935,840.36. Following the completion of the sale, the insider now owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The disclosure for this sale can be found here. Company insiders own 0.63% of the company’s stock.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.