Commerce Bank Has $1.86 Million Stock Holdings in EQT Corporation (NYSE:EQT)

Key Points

• Commerce Bank has reduced its holdings in EQT Corporation by 14.5%, now owning 34,833 shares valued at approximately $1.86 million.
• The company reported earnings of $0.45 per share for the last quarter, missing analyst expectations of $0.52, with revenues of $1.60 billion compared to expected $1.78 billion.
• EQT has recently declared a quarterly dividend of $0.1575 per share, representing an annualized dividend of $0.63 and a yield of 1.2%.

Commerce Bank cut its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 14.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,833 shares of the oil and gas producer's stock after selling 5,898 shares during the quarter. Commerce Bank's holdings in EQT were worth $1,861,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in EQT by 46.3% during 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. Slate Path Capital LP acquired a new stake in EQT during the fourth quarter valued at approximately $123,575,000. Castle Hook Partners LP boosted its holdings in EQT by 199.5% during the fourth quarter. Castle Hook Partners LP now owns 3,990,714 shares of the oil and gas producer's stock valued at $184,012,000 after purchasing an additional 2,658,375 shares in the last quarter. Capital International Investors boosted its holdings 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 valued at $638,867,000 after purchasing an additional 2,433,632 shares in the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in EQT during the fourth quarter valued at approximately $59,627,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Down 1.0%

NYSE:EQT opened at $51.81 on Tuesday. The stock's fifty day moving average price is $56.03 and its two-hundred day moving average price is $53.18. EQT Corporation has a 52-week low of $30.02 and a 52-week high of $61.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $32.34 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 0.36 and a beta of 0.59.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period last year, the company earned ($0.08) EPS. On average, analysts anticipate that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Mizuho raised EQT to an "outperform" rating and set a $66.00 price objective on the stock in a report on Tuesday, July 8th. Royal Bank Of Canada lifted their price objective on EQT from $55.00 to $60.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Wall Street Zen downgraded EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Barclays boosted their target price on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Finally, Scotiabank reissued a "sector perform" rating and issued a $66.00 target price (up from $62.00) on shares of EQT in a report on Friday, July 11th. Two 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $60.84.

Insider Buying and Selling at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $51.94, for a total value of $646,029.72. Following the transaction, the executive vice president owned 13,297 shares of the company's stock, valued at $690,646.18. This represents a 48.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.