Victory Capital Management Inc. Sells 16,573 Shares of EQT Corporation (NYSE:EQT)

Victory Capital Management Inc. lessened its holdings in EQT Corporation (NYSE:EQT - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 281,017 shares of the oil and gas producer's stock after selling 16,573 shares during the quarter. Victory Capital Management Inc.'s holdings in EQT were worth $15,015,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. raised its position in EQT by 47.7% during the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 960 shares of the oil and gas producer's stock worth $44,000 after acquiring an additional 310 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in EQT during the fourth quarter worth $55,000. Colonial Trust Co SC increased its holdings in shares of EQT by 255.5% in the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after purchasing an additional 1,022 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in shares of EQT in the fourth quarter valued at $70,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of EQT in the fourth quarter valued at $72,000. 90.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EQT has been the topic of several research reports. Mizuho upgraded shares of EQT to an "outperform" rating and set a $66.00 price objective on the stock in a report on Tuesday, July 8th. TD Cowen upgraded shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective on the stock in a report on Tuesday, April 8th. Jefferies Financial Group reiterated a "buy" rating and issued a $70.00 price objective (up from $60.00) on shares of EQT in a report on Tuesday, July 8th. Scotiabank reiterated a "sector perform" rating and issued a $66.00 price objective (up from $62.00) on shares of EQT in a report on Friday, July 11th. Finally, Roth Capital assumed coverage on shares of EQT in a research note on Tuesday, June 24th. They issued a "buy" rating and a $69.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $60.84.

EQT Price Performance

Shares of EQT stock traded down $1.81 on Friday, reaching $52.22. The company had a trading volume of 8,472,081 shares, compared to its average volume of 9,672,821. The stock has a market capitalization of $32.59 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 0.36 and a beta of 0.65. The company has a quick ratio of 0.57, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a one year low of $30.02 and a one year high of $61.02. The business's 50-day moving average is $56.38 and its 200 day moving average is $53.10.

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

EQT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th will be issued a $0.1575 dividend. The ex-dividend date is Wednesday, August 6th. This represents a $0.63 dividend on an annualized basis and a yield of 1.21%. EQT's dividend payout ratio (DPR) is presently 34.05%.

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.