Oppenheimer Asset Management Inc. Acquires 29,084 Shares of EQT Corporation (NYSE:EQT)

Oppenheimer Asset Management Inc. raised its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 133.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,822 shares of the oil and gas producer's stock after acquiring an additional 29,084 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in EQT were worth $2,715,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. lifted its holdings in EQT by 47.7% in 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 during the last quarter. EverSource Wealth Advisors LLC grew its stake in EQT by 26.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock worth $45,000 after buying an additional 205 shares during the last quarter. Parkside Financial Bank & Trust increased its position in EQT by 22.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,042 shares of the oil and gas producer's stock worth $48,000 after buying an additional 193 shares during the period. First Horizon Advisors Inc. increased its position in EQT by 33.1% in the fourth quarter. First Horizon Advisors Inc. now owns 1,199 shares of the oil and gas producer's stock worth $55,000 after buying an additional 298 shares during the period. Finally, Mascagni Wealth Management Inc. bought a new stake in EQT in the fourth quarter valued at $55,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Up 0.0%

Shares of NYSE EQT traded up $0.02 during mid-day trading on Monday, reaching $58.33. The company had a trading volume of 11,136,878 shares, compared to its average volume of 7,936,524. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $34.92 billion, a price-to-earnings ratio of 102.34, a PEG ratio of 0.35 and a beta of 0.65. The stock has a fifty day moving average of $55.19 and a two-hundred day moving average of $51.78. 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 released its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.20. The firm had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 6.59% and a return on equity of 5.52%. As a group, equities research analysts expect that EQT Corporation will post 3.27 EPS for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Wednesday, May 7th were given a dividend of $0.1575 per share. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a yield of 1.08%. EQT's payout ratio is 110.53%.

Analyst Ratings Changes

Several equities analysts have recently commented on EQT shares. Stephens lowered their price target on shares of EQT from $59.00 to $57.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Mizuho raised their price objective on shares of EQT from $57.00 to $60.00 and gave the company an "outperform" rating in a research report on Tuesday, April 1st. Wells Fargo & Company lifted their price objective 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. Wall Street Zen lowered shares of EQT from a "hold" rating to a "sell" rating in a research note on Monday, April 7th. Finally, Piper Sandler raised their target price on shares of EQT from $35.00 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $58.00.

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.