RR Advisors LLC Acquires New Holdings in EQT Corporation $EQT

Key Points

• RR Advisors LLC acquired 124,949 shares of EQT during the second quarter, valued at approximately $6.64 million and representing 1.9% of its portfolio. Institutional investors and hedge funds collectively own 90.81% of EQT.
• Analysts maintain a generally positive outlook, with EQT receiving a consensus “Moderate Buy” rating and an average price target of $68.10, despite several recent target-price reductions.
• EQT’s latest quarterly results fell short of expectations, with earnings per share of $0.39 versus $0.41 expected and revenue down 29.2% year over year. The company declared a quarterly dividend of $0.165 per share, yielding approximately 1.2% annually.

RR Advisors LLC bought a new position in shares of EQT Corporation (NYSE:EQT - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 124,949 shares of the oil and gas producer's stock, valued at approximately $6,644,000. EQT accounts for approximately 1.9% of RR Advisors LLC's holdings, making the stock its 18th largest position.

Several other hedge funds have also recently bought and sold shares of EQT. Greykasell Wealth Strategies Inc. acquired a new position in shares of EQT in the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new stake in shares of EQT during the second quarter worth $26,000. Gables Capital Management Inc. acquired a new stake in shares of EQT during the second quarter worth $37,000. Elyxium Wealth LLC bought a new stake in EQT in the 4th quarter valued at $49,000. Finally, Root Financial Partners LLC lifted its position in EQT by 35.4% in the 1st quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer's stock valued at $49,000 after acquiring an additional 202 shares in the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Toby Z. Rice sold 175,328 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 274,042 shares of company stock valued at $15,005,076. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EQT shares. UBS Group reduced their target price on shares of EQT from $74.00 to $73.00 and set a "buy" rating for the company in a research note on Wednesday, July 8th. Sanford C. Bernstein restated an "outperform" rating on shares of EQT in a report on Thursday, July 30th. Jefferies Financial Group reduced their price objective on EQT from $77.00 to $75.00 and set a "buy" rating for the company in a research report on Wednesday, July 1st. Freedom Capital upgraded EQT to a "strong-buy" rating in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group dropped their target price on EQT from $65.00 to $63.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, EQT currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.10.

EQT Trading Up 0.0%

EQT stock opened at $53.74 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a 50-day moving average of $51.99 and a 200-day moving average of $56.46. The company has a market cap of $33.62 billion, a price-to-earnings ratio of 12.47 and a beta of 0.58. EQT Corporation has a one year low of $47.94 and a one year high of $68.24.

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 for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The firm's revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period last year, the firm earned $0.45 EPS. On average, equities analysts expect that EQT Corporation will post 3.97 earnings per share for the current fiscal year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders 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 payout ratio is 15.31%.

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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