Valueworks LLC Has $3.32 Million Stake in EQT Corporation $EQT

Key Points

• Valueworks LLC reduced its holdings in EQT Corporation by 73.6% in the first quarter, currently owning 62,191 shares valued at approximately $3.3 million.
• Multiple institutional investors, including Larson Financial Group LLC and Fidelis Capital Partners LLC, increased their stakes in EQT during the same period, reflecting overall interest in the stock.
• Analysts have mixed ratings on EQT, with UBS Group raising its target price to $65 and Roth Capital downgrading it from "strong-buy" to "neutral," indicating divided opinions on the stock's performance.

Valueworks LLC lowered its holdings in shares of EQT Corporation (NYSE:EQT - Free Report) by 73.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 62,191 shares of the oil and gas producer's stock after selling 173,445 shares during the period. EQT accounts for approximately 1.3% of Valueworks LLC's holdings, making the stock its 27th largest position. Valueworks LLC's holdings in EQT were worth $3,323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of EQT. Castle Hook Partners LP grew 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 worth $184,012,000 after purchasing an additional 2,658,375 shares during the period. Nuveen LLC bought a new position in EQT during the first quarter worth about $120,252,000. Vanguard Group Inc. grew its holdings in EQT by 2.1% during the first quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer's stock worth $3,955,922,000 after purchasing an additional 1,509,054 shares during the period. Encompass Capital Advisors LLC bought a new position in EQT during the fourth quarter worth about $59,627,000. Finally, Third Point LLC grew its holdings in EQT by 51.3% during the fourth quarter. Third Point LLC now owns 2,950,000 shares of the oil and gas producer's stock worth $136,024,000 after purchasing an additional 1,000,000 shares during the period. Institutional investors own 90.81% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on EQT. UBS Group lifted their price target on EQT from $64.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Morgan Stanley restated an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Jefferies Financial Group restated a "buy" rating and set a $70.00 price objective (up previously from $60.00) on shares of EQT in a report on Tuesday, July 8th. Roth Capital cut EQT from a "strong-buy" rating to a "neutral" rating and reduced their price objective for the stock from $75.00 to $57.00 in a report on Monday, August 18th. Finally, Bank of America increased their price objective on EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Fifteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.14.

EQT Price Performance

NYSE EQT traded down $1.33 on Wednesday, hitting $51.38. 7,540,441 shares of the company's stock were exchanged, compared to its average volume of 8,303,793. The stock has a 50-day moving average of $54.66 and a 200-day moving average of $53.14. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a 52 week low of $31.45 and a 52 week high of $61.02. The stock has a market cap of $32.06 billion, a price-to-earnings ratio of 27.77, a P/E/G ratio of 0.40 and a beta of 0.59.

EQT (NYSE:EQT - Get Free Report) last released its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%.The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Analysts expect that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

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 issued a dividend of $0.1575 per share. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. EQT's dividend payout ratio is 34.05%.

Insider Buying and Selling at EQT

In other news, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the transaction, the executive vice president directly owned 13,297 shares in the company, valued at approximately $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

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.