Capital Advisors Inc. OK Sells 857,282 Shares of EQT Corporation $EQT

Key Points

• Capital Advisors Inc. OK cut its EQT stake by 99.2% in the second quarter, selling 857,282 shares and retaining 6,931 shares valued at approximately $369,000. Institutional investors overall own 90.81% of EQT.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $68.10, despite several brokerages lowering their targets.
• EQT reported weaker-than-expected quarterly results, with EPS of $0.39 and revenue of $1.68 billion, while revenue declined 29.2% year over year. The company declared a quarterly dividend of $0.165 per share, representing a 1.2% annualized yield.

Capital Advisors Inc. OK decreased its holdings in EQT Corporation (NYSE:EQT - Free Report) by 99.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,931 shares of the oil and gas producer's stock after selling 857,282 shares during the quarter. Capital Advisors Inc. OK's holdings in EQT were worth $369,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. New Mexico Educational Retirement Board increased its position in shares of EQT by 9.2% during the second quarter. New Mexico Educational Retirement Board now owns 31,000 shares of the oil and gas producer's stock valued at $1,648,000 after buying an additional 2,600 shares during the period. Royal London Asset Management Ltd. lifted its holdings in EQT by 3.0% in the second quarter. Royal London Asset Management Ltd. now owns 1,774,084 shares of the oil and gas producer's stock worth $94,328,000 after buying an additional 51,662 shares during the period. Mufg Securities Americas Inc. boosted its position in EQT by 9.1% during the 2nd quarter. Mufg Securities Americas Inc. now owns 18,839 shares of the oil and gas producer's stock valued at $1,002,000 after acquiring an additional 1,571 shares in the last quarter. Field & Main Bank bought a new stake in EQT during the 2nd quarter valued at approximately $278,000. Finally, Wellington Management Group LLP grew its holdings in shares of EQT by 41.4% during the 2nd quarter. Wellington Management Group LLP now owns 22,565,479 shares of the oil and gas producer's stock worth $1,199,807,000 after acquiring an additional 6,603,286 shares during the period. Institutional investors own 90.81% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EQT. The Goldman Sachs Group decreased their target price on EQT from $65.00 to $63.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Freedom Capital upgraded EQT to a "strong-buy" rating in a research report on Tuesday, June 30th. Jefferies Financial Group reduced their price target on EQT from $77.00 to $75.00 and set a "buy" rating on the stock in a research note on Wednesday, July 1st. Sanford C. Bernstein reiterated an "outperform" rating on shares of EQT in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. lowered their price objective on EQT from $72.00 to $68.00 and set an "overweight" rating for the company in a research report on Tuesday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.10.

EQT Trading Down 0.0%

Shares of NYSE:EQT opened at $54.56 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The company has a market cap of $34.13 billion, a P/E ratio of 12.66 and a beta of 0.58. The stock's fifty day moving average price is $52.33 and its 200-day moving average price is $56.41.

EQT (NYSE:EQT - Get Free Report) last released 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 return on equity of 9.31% and a net margin of 28.44%.The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. EQT's quarterly revenue was down 29.2% compared to the same quarter last year. Sell-side analysts expect that EQT Corporation will post 3.96 earnings per share for the current year.

EQT Dividend Announcement

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

Insider Activity at EQT

In other news, CEO Toby Z. Rice sold 175,328 shares of the business's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer directly owned 2,157,865 shares of the company's stock, valued at $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 available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 274,042 shares of company stock valued at $15,005,076 in the last three months. Insiders own 0.72% of the company's stock.

EQT Company Profile

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.

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