RR Advisors LLC Purchases New Shares in EQT Corporation $EQT

RR Advisors LLC bought a new position in shares of EQT Corporation (NYSE:EQT) during the 2nd quarter, Holdings Channel.com reports. The fund bought 124,949 shares of the oil and gas producer’s stock, valued at approximately $6,644,000. EQT accounts for 1.9% of RR Advisors LLC’s investment portfolio, making the stock its 18th largest holding.

A number of other large investors have also added to or reduced their stakes in the stock. Greykasell Wealth Strategies Inc. acquired a new stake in shares of EQT during the 4th quarter worth $26,000. Meeder Asset Management Inc. acquired a new stake in EQT during the second quarter worth about $26,000. Gables Capital Management Inc. acquired a new stake in EQT during the second quarter worth about $37,000. Elyxium Wealth LLC bought a new position in EQT in the 4th quarter valued at about $49,000. Finally, Root Financial Partners LLC increased its holdings in EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after buying an additional 202 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insider Transactions at EQT

In related news, CEO Toby Z. Rice sold 175,328 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer directly owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. This trade represents a 7.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 274,042 shares of company stock worth $15,005,076. 0.72% of the stock is owned by company insiders.

EQT Stock Up 0.0%

Shares of NYSE EQT opened at $53.74 on Monday. The company has a market cap of $33.62 billion, a price-to-earnings ratio of 12.47 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24. The stock has a 50-day moving average price of $51.99 and a two-hundred day moving average price of $56.46.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.45 earnings per share. The company’s revenue for the quarter was down 29.2% compared to the same quarter last year. As a group, analysts forecast that EQT Corporation will post 3.97 earnings per share for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. EQT’s dividend payout ratio is presently 15.31%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on EQT. Capital One Financial upped their price target on shares of EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Stephens lifted their price objective on shares of EQT from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Truist Financial lowered their price objective on shares of EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Sanford C. Bernstein restated an “outperform” rating on shares of EQT in a research note on Thursday, July 30th. Finally, Freedom Capital raised EQT to a “strong-buy” rating in a report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, EQT presently has a consensus rating of “Moderate Buy” and an average price target of $68.10.

About EQT

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.