R Squared Ltd Acquires Shares of 6,030 EQT Corporation (NYSE:EQT)

Key Points

• R Squared Ltd purchased 6,030 shares of EQT Corporation for approximately $322,000, indicating interest from institutional investors in the oil and gas producer.
• Despite a recent 2.5% drop in stock price, EQT reported earnings of $0.45 per share, missing estimates by $0.07, with revenue of $1.60 billion.
• EQT recently announced a $0.1575 quarterly dividend, representing an annualized dividend yield of 1.2% and a payout ratio of 34.05%.

R Squared Ltd purchased a new stake in EQT Corporation (NYSE:EQT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,030 shares of the oil and gas producer's stock, valued at approximately $322,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Harbour Investments Inc. increased its stake in EQT by 48.4% in the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after buying an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. grew its stake in shares of EQT by 47.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock worth $44,000 after purchasing an additional 310 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of EQT during the 4th quarter worth $55,000. Colonial Trust Co SC grew its stake in shares of EQT by 255.5% during the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock worth $66,000 after purchasing an additional 1,022 shares during the period. Finally, Altshuler Shaham Ltd acquired a new position in shares of EQT during the 4th quarter worth $70,000. Hedge funds and other institutional investors own 90.81% of the company's stock.

EQT Trading Up 0.1%

NYSE:EQT traded up $0.05 on Tuesday, reaching $51.92. The stock had a trading volume of 1,072,156 shares, compared to its average volume of 8,465,537. The company has a market cap of $32.40 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 0.36 and a beta of 0.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.71 and a quick ratio of 0.71. The firm's fifty day moving average is $56.03 and its two-hundred day moving average is $53.18. EQT Corporation has a 12-month low of $30.17 and a 12-month high of $61.02.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Equities analysts expect that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be given a dividend of $0.1575 per share. This represents a $0.63 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 6th. EQT's dividend payout ratio is 34.05%.

Insider Transactions at EQT

In related news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the sale, the executive vice president owned 13,297 shares of the company's stock, valued at approximately $690,646.18. This represents a 48.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.65% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 price target on the stock in a research note on Tuesday, July 8th. Piper Sandler upped their price target on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research note on Friday, July 25th. Roth Capital assumed coverage on shares of EQT in a research note on Tuesday, June 24th. They set a "buy" rating and a $69.00 price target on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of EQT in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada upped their price target on shares of EQT from $55.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Tuesday, July 8th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, EQT currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.84.

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.