Credit Suisse AG Sells 254,357 Shares of EQT Corporation (NYSE:EQT)

Credit Suisse AG lowered its stake in EQT Corporation (NYSE:EQT) by 26.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 715,124 shares of the oil and gas producer’s stock after selling 254,357 shares during the period. Credit Suisse AG owned 0.41% of EQT Corporation worth $43,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EQT. Jane Street Group LLC raised its position in shares of EQT Corporation by 592.8% in the first quarter. Jane Street Group LLC now owns 47,802 shares of the oil and gas producer’s stock valued at $2,921,000 after buying an additional 57,502 shares in the last quarter. Paloma Partners Management Co increased its stake in EQT Corporation by 76.8% in the first quarter. Paloma Partners Management Co now owns 29,497 shares of the oil and gas producer’s stock valued at $1,802,000 after buying an additional 12,816 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in EQT Corporation during the first quarter valued at approximately $648,000. State Street Corp increased its stake in EQT Corporation by 13.6% in the first quarter. State Street Corp now owns 10,635,812 shares of the oil and gas producer’s stock valued at $649,846,000 after buying an additional 1,270,294 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in shares of EQT Corporation during the first quarter worth about $269,000. 90.54% of the stock is currently owned by institutional investors and hedge funds.

EQT Corporation (NYSE:EQT) traded up 0.10% on Wednesday, reaching $61.10. 840,785 shares of the company’s stock were exchanged. EQT Corporation has a one year low of $49.63 and a one year high of $78.84. The firm has a 50 day moving average price of $56.01 and a 200 day moving average price of $60.47. The firm’s market cap is $10.59 billion.

EQT Corporation (NYSE:EQT) last announced its quarterly earnings data on Thursday, April 27th. The oil and gas producer reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.02. EQT Corporation had a positive return on equity of 0.18% and a negative net margin of 15.03%. The business had revenue of $897.50 million for the quarter, compared to analyst estimates of $713.65 million. During the same period in the prior year, the company earned $0.07 EPS. The company’s revenue was up 64.6% on a year-over-year basis. On average, equities analysts anticipate that EQT Corporation will post $1.30 earnings per share for the current year.

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A number of brokerages have issued reports on EQT. Jefferies Group LLC reaffirmed a “hold” rating and issued a $69.00 price objective on shares of EQT Corporation in a research report on Thursday, April 6th. Royal Bank Of Canada cut shares of EQT Corporation from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $86.00 to $80.00 in a research note on Wednesday, July 5th. Scotiabank set a $84.00 price target on shares of EQT Corporation and gave the company a “hold” rating in a research note on Monday, March 20th. Stifel Nicolaus reiterated a “buy” rating and issued a $81.00 target price (up from $63.00) on shares of EQT Corporation in a research note on Tuesday, May 2nd. Finally, BidaskClub raised shares of EQT Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $80.14.

In other news, CEO Steven T. Schlotterbeck acquired 2,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were bought at an average cost of $52.14 per share, for a total transaction of $104,280.00. Following the acquisition, the chief executive officer now directly owns 115,178 shares in the company, valued at approximately $6,005,380.92. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director A. Bray Jr. Cary bought 28,000 shares of the stock in a transaction dated Friday, June 23rd. The stock was bought at an average price of $53.55 per share, with a total value of $1,499,400.00. Following the purchase, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,211,675.85. The disclosure for this purchase can be found here. Insiders acquired 41,901 shares of company stock worth $2,211,775 in the last three months. 1.00% of the stock is owned by corporate insiders.

About EQT Corporation

EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.

Institutional Ownership by Quarter for EQT Corporation (NYSE:EQT)

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