Allianz Asset Management GmbH Has $1.69 Million Stock Position in EQT Corporation $EQT

Allianz Asset Management GmbH lessened its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 71.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,852 shares of the oil and gas producer's stock after selling 79,303 shares during the quarter. Allianz Asset Management GmbH's holdings in EQT were worth $1,694,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Corient Private Wealth LP lifted its holdings in shares of EQT by 3.3% in the 2nd quarter. Corient Private Wealth LP now owns 111,489 shares of the oil and gas producer's stock worth $5,928,000 after purchasing an additional 3,563 shares in the last quarter. California State Teachers Retirement System raised its holdings in EQT by 5,000.6% during the second quarter. California State Teachers Retirement System now owns 36,749,722 shares of the oil and gas producer's stock worth $1,953,983,000 after buying an additional 36,029,223 shares during the last quarter. HB Wealth Management LLC raised its holdings in EQT by 13.9% during the second quarter. HB Wealth Management LLC now owns 34,086 shares of the oil and gas producer's stock worth $1,812,000 after buying an additional 4,161 shares during the last quarter. Saudi Central Bank lifted its stake in shares of EQT by 80.4% in the second quarter. Saudi Central Bank now owns 41,554 shares of the oil and gas producer's stock valued at $2,209,000 after buying an additional 18,519 shares in the last quarter. Finally, AlphaGrep UK Ltd bought a new position in shares of EQT in the second quarter valued at $665,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other EQT news, CEO Toby Rice sold 175,328 shares of the business's stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the transaction, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EQT. Freedom Capital raised shares of EQT to a "strong-buy" rating in a research report on Tuesday, June 30th. The Goldman Sachs Group dropped their price target on shares of EQT from $65.00 to $63.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. UBS Group cut their price target on EQT from $74.00 to $73.00 and set a "buy" rating for the company in a research note on Wednesday, July 8th. Truist Financial decreased their price objective on EQT from $74.00 to $65.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. Finally, Stephens increased their price objective on EQT from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

EQT Stock Down 0.9%

EQT stock opened at $54.61 on Thursday. EQT Corporation has a fifty-two week low of $47.94 and a fifty-two week high of $68.24. The stock has a market cap of $34.16 billion, a PE ratio of 12.67 and a beta of 0.58. The firm's 50-day simple moving average is $52.82 and its 200 day simple moving average is $56.26. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 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 firm had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter last year, the business posted $0.45 EPS. The company's quarterly revenue was down 29.2% on a year-over-year basis. Research analysts predict that EQT Corporation will post 3.96 EPS for the current fiscal year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 5th. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. EQT's dividend payout ratio is currently 15.31%.

About EQT

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company primarily develops and operates unconventional oil and gas properties in the Appalachian Basin, with a focus on natural gas production from the Marcellus and Utica shale formations.

EQT's products include natural gas, natural gas liquids and condensate. Its operations span drilling, well completion, production and related gathering activities, supporting the delivery of energy to utilities, industrial customers, marketers and other buyers.

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.