Trexquant Investment LP Acquires New Holdings in EQT Corporation $EQT

Key Points

• Trexquant Investment LP has made a new investment of approximately $30.71 million in EQT Corporation, acquiring 574,776 shares.
• Institutional investors and hedge funds collectively own 90.81% of EQT's stock, with several increasing their holdings significantly in recent quarters.
• EQT Corporation recently declared a quarterly dividend of $0.1575, representing a 1.2% yield, with the ex-dividend date being August 6th.

Trexquant Investment LP bought a new stake in EQT Corporation (NYSE:EQT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 574,776 shares of the oil and gas producer's stock, valued at approximately $30,710,000. Trexquant Investment LP owned 0.10% of EQT as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in shares of EQT in the first quarter valued at about $35,000. Harbour Investments Inc. boosted its position in shares of EQT by 48.4% in the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock valued at $37,000 after acquiring an additional 226 shares during the period. University of Texas Texas AM Investment Management Co. boosted its position in shares of 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 valued at $44,000 after acquiring an additional 310 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of EQT in the fourth quarter valued at about $55,000. Finally, Colonial Trust Co SC boosted its position in shares of EQT by 255.5% in the fourth quarter. Colonial Trust Co SC now owns 1,422 shares of the oil and gas producer's stock valued at $66,000 after acquiring an additional 1,022 shares during the period. Institutional investors own 90.81% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group boosted their target price on shares of EQT from $64.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Jefferies Financial Group reaffirmed a "buy" rating and set a $70.00 price objective (up previously from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Bank of America upped their price objective on shares of EQT from $63.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Piper Sandler upped their price objective on shares of EQT from $48.00 to $49.00 and gave the stock a "neutral" rating in a research report on Friday, July 25th. Finally, Barclays upped their price objective on shares of EQT from $65.00 to $68.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $62.14.

Insider Buying and Selling

In related news, EVP Sarah Fenton sold 12,438 shares of the firm'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 value of $646,029.72. Following the completion of the transaction, the executive vice president owned 13,297 shares in the company, valued at $690,646.18. This trade represents a 48.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were 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. 0.65% of the stock is owned by company insiders.

EQT Price Performance

Shares of EQT stock traded down $0.47 on Monday, reaching $51.90. The company had a trading volume of 6,310,318 shares, compared to its average volume of 6,522,401. The stock has a market capitalization of $32.39 billion, a PE ratio of 28.05, a price-to-earnings-growth ratio of 0.41 and a beta of 0.58. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a one year low of $31.45 and a one year high of $61.02. The business's 50-day moving average is $54.19 and its 200 day moving average is $53.11.

EQT (NYSE:EQT - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The oil and gas producer reported $0.45 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.07). The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same period last year, the company posted ($0.08) EPS. Equities research analysts forecast that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The firm also recently disclosed 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 yield of 1.2%. The ex-dividend date is Wednesday, August 6th. EQT's dividend payout ratio (DPR) 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.