Sourcerock Group LLC Has $213.43 Million Position in EQT Co. (NYSE:EQT)

Sourcerock Group LLC lifted its position in EQT Co. (NYSE:EQT - Free Report) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,628,798 shares of the oil and gas producer's stock after buying an additional 399,073 shares during the quarter. EQT comprises approximately 15.2% of Sourcerock Group LLC's holdings, making the stock its 2nd biggest position. Sourcerock Group LLC owned approximately 0.78% of EQT worth $213,434,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in EQT by 26.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 976 shares of the oil and gas producer's stock valued at $45,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of 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 valued at $48,000 after buying an additional 193 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of EQT in the fourth quarter valued at approximately $55,000. First Horizon Advisors Inc. increased its stake in shares of 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 valued at $55,000 after buying an additional 298 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in EQT by 1,343.8% in the fourth quarter. Larson Financial Group LLC now owns 1,386 shares of the oil and gas producer's stock valued at $64,000 after acquiring an additional 1,290 shares during the last quarter. 90.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on EQT shares. Mizuho increased their price target on EQT from $57.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. Wall Street Zen cut EQT from a "hold" rating to a "sell" rating in a report on Monday, April 7th. Citigroup increased their price target on EQT from $51.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, March 17th. JPMorgan Chase & Co. increased their price target on EQT from $58.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, March 13th. Finally, Scotiabank upped their target price on EQT from $57.00 to $62.00 and gave the stock a "sector perform" rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.11.

EQT Price Performance

EQT stock traded down $0.05 during mid-day trading on Thursday, reaching $55.66. 7,729,498 shares of the company traded hands, compared to its average volume of 7,961,982. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. The company has a market capitalization of $33.32 billion, a P/E ratio of 139.15, a P/E/G ratio of 0.64 and a beta of 0.59. EQT Co. has a 52-week low of $30.02 and a 52-week high of $57.37. The company has a fifty day moving average price of $51.96 and a 200-day moving average price of $49.13.

EQT (NYSE:EQT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.20. The firm had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.16 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. As a group, analysts anticipate that EQT Co. will post 3.27 earnings per share for the current year.

EQT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.1575 per share. The ex-dividend date is Wednesday, May 7th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.13%. EQT's dividend payout ratio (DPR) is presently 110.53%.

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.