J. Safra Sarasin Holding AG Sells 7,777 Shares of EQT Corporation (NYSE:EQT)

J. Safra Sarasin Holding AG cut its stake in EQT Corporation (NYSE:EQT - Free Report) by 39.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,758 shares of the oil and gas producer's stock after selling 7,777 shares during the period. J. Safra Sarasin Holding AG's holdings in EQT were worth $628,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of Nova Scotia grew its holdings in shares of EQT by 227.0% in the first quarter. Bank of Nova Scotia now owns 279,203 shares of the oil and gas producer's stock worth $14,918,000 after purchasing an additional 193,824 shares during the last quarter. R Squared Ltd bought a new position in EQT during the 1st quarter worth about $322,000. Banco Santander S.A. grew its holdings in EQT by 22.5% during the 1st quarter. Banco Santander S.A. now owns 13,815 shares of the oil and gas producer's stock worth $738,000 after acquiring an additional 2,539 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in EQT by 10.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 156,107 shares of the oil and gas producer's stock worth $8,341,000 after acquiring an additional 14,924 shares in the last quarter. Finally, Mengis Capital Management Inc. bought a new position in EQT during the 1st quarter worth about $232,000. 90.81% of the stock is currently owned by institutional investors.

Insider Transactions at EQT

In related news, EVP Sarah Fenton sold 12,438 shares of EQT stock in a transaction on Friday, July 25th. The shares were sold at an average price of $51.94, for a total value of $646,029.72. Following the sale, the executive vice president owned 13,297 shares of the company's stock, valued at approximately $690,646.18. This trade represents a 48.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on EQT. Stephens dropped their target price on shares of EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. TD Cowen upgraded shares of EQT from a "hold" rating to a "buy" rating and set a $54.00 target price on the stock in a report on Tuesday, April 8th. Royal Bank Of Canada raised their price target on shares of 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 cut shares of EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Finally, Wells Fargo & Company raised their price target on shares of EQT from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Monday, June 16th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $60.84.

EQT Stock Performance

EQT opened at $51.81 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $32.34 billion, a PE ratio of 28.01, a P/E/G ratio of 0.36 and a beta of 0.59. The firm has a 50 day moving average of $56.03 and a two-hundred day moving average of $53.18. EQT Corporation has a 12-month low of $30.02 and a 12-month high of $61.02.

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

EQT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors 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 yield of 1.2%. EQT's dividend payout ratio (DPR) is currently 34.05%.

EQT 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.

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