RR Advisors LLC Has $6.17 Million Holdings in EQT Corporation $EQT

Key Points

• RR Advisors LLC increased its stake in EQT Corporation by 4.5% in Q1, now holding 115,000 shares valued at approximately $6.17 million, making it the 17th largest position in their portfolio.
• Institutional investors own about 90.81% of EQT stock, with several sizable transactions and increased stakes reported among various investors during the first quarter.
• EQT's stock has been rated as a "Moderate Buy" by analysts, and its consensus target price is $60.95, reflecting a mix of upgrade ratings and price target increases from multiple financial institutions.

RR Advisors LLC grew its position in EQT Corporation (NYSE:EQT - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,000 shares of the oil and gas producer's stock after purchasing an additional 5,000 shares during the period. EQT comprises about 1.5% of RR Advisors LLC's holdings, making the stock its 17th largest position. RR Advisors LLC's holdings in EQT were worth $6,167,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new position in shares of EQT during the 1st quarter worth $35,000. Harbour Investments Inc. increased its stake in shares of EQT by 48.4% during the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after purchasing an additional 226 shares during the last quarter. University of Texas Texas AM Investment Management Co. increased its stake in shares of EQT by 47.7% during the 4th 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 purchasing an additional 310 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of EQT during the 4th quarter worth $55,000. Finally, Colonial Trust Co SC grew its stake in EQT by 255.5% in the 4th quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after buying an additional 1,022 shares during the last quarter. 90.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of EQT from $48.00 to $49.00 and gave the company a "neutral" rating in a research note on Friday, July 25th. Wells Fargo & Company increased 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. Morgan Stanley reissued an "overweight" rating on shares of EQT in a report on Tuesday, July 15th. Royal Bank Of Canada increased 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. Finally, Roth Capital downgraded shares of EQT from a "strong-buy" rating to a "neutral" rating and reduced their price target for the company from $75.00 to $57.00 in a report on Monday. Thirteen research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.32.

Insider Buying and Selling

In related news, EVP Sarah Fenton sold 12,438 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the completion of the sale, the executive vice president directly owned 13,297 shares of the company's stock, valued at $690,646.18. The trade was a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Vicky A. Bailey sold 4,259 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. Insiders own 0.65% of the company's stock.

EQT Price Performance

Shares of NYSE EQT traded up $0.0040 during trading on Tuesday, reaching $50.5040. The company had a trading volume of 6,083,512 shares, compared to its average volume of 8,386,745. EQT Corporation has a 52 week low of $31.45 and a 52 week high of $61.02. The stock has a market cap of $31.52 billion, a PE ratio of 27.30, a PEG ratio of 0.37 and a beta of 0.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71. The business's 50 day moving average price is $55.19 and its 200-day moving average price is $53.16.

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 for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%.The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm posted ($0.08) earnings per share. Analysts expect that EQT Corporation will post 3.27 earnings per share for the current year.

EQT Announces Dividend

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

About EQT

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.