Korea Investment CORP Acquires New Position in EQT Corporation $EQT

Korea Investment CORP bought a new position in shares of EQT Corporation (NYSE:EQT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 378,303 shares of the oil and gas producer's stock, valued at approximately $20,114,000. Korea Investment CORP owned about 0.06% of EQT as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of EQT during the 2nd quarter worth $3,204,125,000. Bank of New York Mellon Corp purchased a new stake in shares of EQT in the second quarter valued at $512,148,000. Deutsche Bank AG purchased a new stake in shares of EQT in the second quarter valued at $119,461,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of EQT in the second quarter valued at $110,177,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in EQT in the second quarter valued at $78,630,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other EQT news, CEO Toby Z. Rice sold 175,328 shares of EQT stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the transaction, the chief executive officer directly owned 2,157,865 shares of the company's stock, valued at $118,747,310.95. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 274,042 shares of company stock worth $15,005,076 over the last 90 days. Insiders own 0.72% of the company's stock.

EQT Trading Up 0.0%

Shares of EQT opened at $53.74 on Monday. EQT Corporation has a twelve month low of $47.94 and a twelve month high of $68.24. The firm has a market capitalization of $33.62 billion, a P/E ratio of 12.47 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The stock's fifty day simple moving average is $51.99 and its 200 day simple moving average is $56.46.

EQT (NYSE:EQT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). The firm had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. EQT's revenue was down 29.2% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. On average, equities research analysts forecast that EQT Corporation will post 3.97 earnings per share for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. EQT's dividend payout ratio is 15.31%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EQT. Freedom Capital upgraded EQT to a "strong-buy" rating in a research report on Tuesday, June 30th. Sanford C. Bernstein restated an "outperform" rating on shares of EQT in a report on Thursday, July 30th. Zacks Research downgraded shares of EQT from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 28th. Stephens increased their price objective on shares of EQT from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 22nd. Finally, Barclays cut their price objective on shares of EQT from $70.00 to $68.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $68.10.

EQT Company Profile

EQT Corporation NYSE: EQT is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT's primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.

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