Chevy Chase Trust Holdings LLC Sells 89,375 Shares of EQT Corporation (NYSE:EQT)

Chevy Chase Trust Holdings LLC cut its holdings in EQT Corporation (NYSE:EQT - Free Report) by 20.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 342,008 shares of the oil and gas producer's stock after selling 89,375 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of EQT worth $18,273,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EQT. Vanguard Group Inc. lifted its stake in EQT by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer's stock valued at $3,344,371,000 after buying an additional 358,649 shares during the period. Geode Capital Management LLC lifted its position in shares of EQT by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer's stock valued at $663,552,000 after acquiring an additional 429,733 shares during the period. Capital International Investors boosted its stake in EQT by 21.3% during the fourth quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock worth $638,867,000 after acquiring an additional 2,433,632 shares in the last quarter. Clearbridge Investments LLC grew its holdings in EQT by 14.7% in the fourth quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock worth $637,698,000 after purchasing an additional 1,774,696 shares during the period. Finally, Invesco Ltd. increased its stake in EQT by 46.3% in 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 purchasing an additional 4,162,065 shares in the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EQT shares. Morgan Stanley increased their price objective on shares of EQT from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. UBS Group upgraded EQT from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $54.00 to $64.00 in a report on Monday, May 5th. Scotiabank reiterated a "sector perform" rating and issued a $62.00 target price (up from $57.00) on shares of EQT in a report on Thursday, May 22nd. Wells Fargo & Company lifted their price target on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a research report on Monday, June 16th. Finally, Mizuho raised their price objective on shares of EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, EQT currently has an average rating of "Moderate Buy" and an average target price of $58.00.

EQT Stock Performance

EQT stock traded down $0.22 during midday trading on Friday, hitting $57.93. The company's stock had a trading volume of 989,292 shares, compared to its average volume of 8,153,048. The stock has a market cap of $34.68 billion, a price-to-earnings ratio of 101.70, a PEG ratio of 0.36 and a beta of 0.65. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The stock's 50-day moving average price is $54.82 and its 200 day moving average price is $51.50. EQT Corporation has a 1 year low of $30.02 and a 1 year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last released its earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. EQT had a net margin of 6.59% and a return on equity of 5.52%. The firm had revenue of $2.15 billion for the quarter, compared to analysts' expectations of $2.16 billion. On average, equities analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 7th were issued a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Wednesday, May 7th. EQT's dividend payout ratio (DPR) is 110.53%.

EQT Company 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.