26,774 Shares in EQT Corporation $EQT Bought by Callan Family Office LLC

Key Points

• Callan Family Office LLC initiated a position in EQT Corporation by purchasing 26,774 shares valued at approximately $1.42 million. Institutional investors and hedge funds collectively own 90.81% of EQT.
• EQT reported quarterly earnings of $0.39 per share, below the $0.41 analyst consensus, while revenue fell 29.2% year over year to $1.68 billion. The stock recently traded at $53.74, below its 52-week high of $68.24.
• The company declared a quarterly dividend of $0.165 per share, representing a 1.2% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $68.10.

Callan Family Office LLC bought a new position in shares of EQT Corporation (NYSE:EQT - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,774 shares of the oil and gas producer's stock, valued at approximately $1,424,000.

Several other large investors also recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. acquired a new stake in EQT in the 4th quarter valued at about $26,000. Meeder Asset Management Inc. acquired a new position in EQT during the second quarter worth about $26,000. Gables Capital Management Inc. acquired a new position in EQT during the second quarter worth about $37,000. Elyxium Wealth LLC purchased a new stake in shares of EQT in the fourth quarter valued at about $49,000. Finally, Root Financial Partners LLC lifted its holdings in shares of EQT by 35.4% in the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock valued at $49,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Stock Performance

EQT stock opened at $53.74 on Monday. The firm has a market capitalization of $33.62 billion, a P/E ratio of 12.47 and a beta of 0.58. The stock has a fifty day moving average price of $51.99 and a 200 day moving average price of $56.46. EQT Corporation has a 52 week low of $47.94 and a 52 week high of $68.24. 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 (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The company had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The business's revenue for the quarter was down 29.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS. Equities research analysts anticipate that EQT Corporation will post 3.97 earnings per share for the current year.

EQT Announces Dividend

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

Wall Street Analyst Weigh In

EQT has been the subject of a number of recent research reports. Sanford C. Bernstein reissued an "outperform" rating on shares of EQT in a research note on Thursday, July 30th. Jefferies Financial Group reduced their target price on EQT from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Freedom Capital upgraded EQT to a "strong-buy" rating in a report on Tuesday, June 30th. Citigroup dropped their price target on EQT from $70.00 to $67.00 and set a "buy" rating for the company in a research report on Tuesday, July 28th. Finally, BMO Capital Markets cut their price target on EQT from $76.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $68.10.

Insider Buying and Selling at EQT

In related news, CEO Toby Z. Rice sold 175,328 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 2,157,865 shares of the company's stock, valued at approximately $118,747,310.95. The trade was a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 274,042 shares of company stock valued at $15,005,076 over the last ninety days. 0.72% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding EQT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQT Corporation (NYSE:EQT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source