Crestline Management LP Acquires Shares of 17,500 EQT Co. (NYSE:EQT)

Crestline Management LP purchased a new stake in EQT Co. (NYSE:EQT - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 17,500 shares of the oil and gas producer's stock, valued at approximately $807,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. lifted its stake in shares of EQT by 46.3% during the fourth quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock valued at $606,059,000 after acquiring an additional 4,162,065 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in EQT by 386.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,347,660 shares of the oil and gas producer's stock valued at $205,830,000 after buying an additional 3,454,741 shares during the period. Slate Path Capital LP acquired a new position in EQT in the fourth quarter valued at about $123,575,000. Castle Hook Partners LP lifted its stake in EQT by 199.5% in the fourth quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock valued at $184,012,000 after buying an additional 2,658,375 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of EQT in the fourth quarter worth about $113,924,000. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Trading Up 0.1%

Shares of EQT stock traded up $0.05 on Thursday, hitting $56.41. The stock had a trading volume of 3,610,685 shares, compared to its average volume of 7,909,743. The company has a quick ratio of 0.51, a current ratio of 0.70 and a debt-to-equity ratio of 0.37. EQT Co. has a one year low of $30.02 and a one year high of $57.02. The stock has a market cap of $33.77 billion, a price-to-earnings ratio of 140.77, a PEG ratio of 0.64 and a beta of 0.59. The stock's 50-day simple moving average is $51.28 and its two-hundred day simple moving average is $48.49.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. The company had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, sell-side analysts predict that EQT Co. will post 3.27 EPS for the current year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be given a $0.1575 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.12%. EQT's dividend payout ratio is 110.53%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EQT. Stephens decreased their price objective on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. UBS Group upgraded EQT from a "neutral" rating to a "buy" rating and raised their price target for the company from $54.00 to $64.00 in a research note on Monday, May 5th. Piper Sandler raised their price target on EQT from $35.00 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday. The Goldman Sachs Group restated a "reduce" rating on shares of EQT in a research note on Wednesday, February 12th. Finally, StockNews.com downgraded EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, EQT has an average rating of "Moderate Buy" and a consensus target price of $56.67.

EQT Profile

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.