Castleark Management LLC Raises Stock Position in EQT Co. (NYSE:EQT)

Castleark Management LLC boosted its holdings in shares of EQT Co. (NYSE:EQT - Free Report) by 752.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 333,050 shares of the oil and gas producer's stock after purchasing an additional 294,000 shares during the quarter. Castleark Management LLC owned about 0.06% of EQT worth $15,357,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of EQT by 44.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer's stock valued at $2,379,000 after buying an additional 16,416 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of EQT by 13.4% during the fourth quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer's stock worth $298,000 after acquiring an additional 762 shares during the last quarter. Segment Wealth Management LLC purchased a new position in EQT during the fourth quarter valued at $1,735,000. Teacher Retirement System of Texas bought a new stake in EQT in the 4th quarter valued at $244,000. Finally, Nkcfo LLC purchased a new stake in EQT in the 4th quarter worth $738,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group restated a "reduce" rating on shares of EQT in a research report on Wednesday, February 12th. Stephens cut their price target on EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company lifted their price objective on EQT from $53.00 to $58.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 19th. UBS Group upgraded EQT from a "neutral" rating to a "buy" rating and increased their target price for the company from $54.00 to $64.00 in a research report on Monday, May 5th. Finally, TD Cowen upgraded shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price target on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, EQT has a consensus rating of "Moderate Buy" and an average price target of $57.11.

EQT Trading Down 0.2%

Shares of EQT traded down $0.11 during midday trading on Monday, hitting $55.58. The stock had a trading volume of 6,812,553 shares, compared to its average volume of 7,927,201. The stock's 50 day moving average is $52.10 and its 200 day moving average is $49.51. The firm has a market cap of $33.27 billion, a PE ratio of 138.95, a price-to-earnings-growth ratio of 0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a 1 year low of $30.02 and a 1 year high of $57.37.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.20. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. As a group, analysts forecast that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.13%. EQT's payout ratio is 110.53%.

About EQT

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.