Korea Investment CORP Sells 6,699 Shares of EQT Corporation $EQT

Key Points

• Korea Investment CORP reduced its stake in EQT Corporation by 1.4%, selling 6,699 shares, and now holds 457,605 shares valued at approximately $24.45 million.
• Multiple hedge funds have increased their positions in EQT, with BI Asset Management Fondsmaeglerselskab increasing its stake by 69.5% this past quarter.
• Research analysts have generally upgraded their ratings for EQT, with Mizuho setting a new price target of $66 per share, signifying a positive outlook on the stock.

Korea Investment CORP cut its position in shares of EQT Corporation (NYSE:EQT - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 457,605 shares of the oil and gas producer's stock after selling 6,699 shares during the quarter. Korea Investment CORP owned about 0.08% of EQT worth $24,450,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S boosted its position in EQT by 69.5% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 38,230 shares of the oil and gas producer's stock valued at $1,763,000 after acquiring an additional 15,669 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of EQT by 2.2% in the 4th quarter. MetLife Investment Management LLC now owns 159,408 shares of the oil and gas producer's stock valued at $7,350,000 after purchasing an additional 3,368 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of EQT by 61.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 29,341 shares of the oil and gas producer's stock valued at $1,353,000 after purchasing an additional 11,181 shares during the period. State of Tennessee Department of Treasury boosted its position in shares of EQT by 62.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 130,633 shares of the oil and gas producer's stock valued at $6,023,000 after purchasing an additional 50,053 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in EQT by 5.8% during the fourth quarter. Stifel Financial Corp now owns 321,518 shares of the oil and gas producer's stock worth $14,825,000 after purchasing an additional 17,737 shares during the period. Institutional investors own 90.81% of the company's stock.

Insider Buying and Selling

In other EQT news, Director Vicky A. Bailey sold 4,259 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $646,029.72. Following the transaction, the executive vice president directly owned 13,297 shares in the company, valued at $690,646.18. This represents a 48.33% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Jefferies Financial Group reiterated a "buy" rating and issued a $70.00 price objective (up previously from $60.00) on shares of EQT in a research note on Tuesday, July 8th. Melius initiated coverage on shares of EQT in a research report on Wednesday. They set a "buy" rating and a $64.00 target price on the stock. Wells Fargo & Company increased their target price on shares of EQT from $59.00 to $63.00 and gave the stock an "overweight" rating in a research note on Monday, June 16th. Finally, Mizuho upgraded EQT to an "outperform" rating and set a $66.00 price objective for the company in a report on Tuesday, July 8th. Fifteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.14.

EQT Stock Performance

EQT stock traded down $0.1340 during midday trading on Friday, hitting $51.9160. The company's stock had a trading volume of 4,768,066 shares, compared to its average volume of 7,375,581. The stock has a market cap of $32.40 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 0.38 and a beta of 0.59. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $54.91 and its 200 day moving average price is $53.13. EQT Corporation has a 1 year low of $31.45 and a 1 year high of $61.02.

EQT (NYSE:EQT - Get Free Report) last announced 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). The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. EQT had a net margin of 15.87% and a return on equity of 6.24%. During the same period in the prior year, the business earned ($0.08) earnings per share. On average, equities analysts forecast that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

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

EQT Company 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.