EQT Corporation $EQT Shares Sold by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP reduced its stake in EQT Corporation by 51.1%, holding 20,936 shares worth approximately $1.12 million as of the latest SEC filing.
• During the fourth quarter, several hedge funds increased their positions in EQT, with Deutsche Bank AG raising its stake by 30.9%, now owning 2,012,178 shares valued at about $92.78 million.
• EQT reported quarterly earnings of $0.45 per share, which missed analyst estimates, alongside a recent dividend announcement of $0.1575 per share, reflecting an annualized yield of 1.2%.

Voleon Capital Management LP lowered its stake in shares of EQT Corporation (NYSE:EQT - Free Report) by 51.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,936 shares of the oil and gas producer's stock after selling 21,913 shares during the period. Voleon Capital Management LP's holdings in EQT were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new position in EQT during the first quarter worth about $35,000. Harbour Investments Inc. raised its position in EQT by 48.4% during the first quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer's stock worth $37,000 after acquiring an additional 226 shares during the last quarter. University of Texas Texas AM Investment Management Co. raised its position in EQT by 47.7% during 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. Mascagni Wealth Management Inc. acquired a new position in EQT during the fourth quarter worth about $55,000. Finally, Capital A Wealth Management LLC acquired a new position in EQT during the fourth quarter worth about $72,000. Institutional investors and hedge funds own 90.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Jefferies Financial Group restated a "buy" rating and set a $70.00 target price (up previously from $60.00) on shares of EQT in a research report on Tuesday, July 8th. Mizuho raised shares of EQT to an "outperform" rating and set a $66.00 price objective for the company in a research report on Tuesday, July 8th. Morgan Stanley reissued an "overweight" rating on shares of EQT in a research report on Tuesday, July 15th. Melius Research began coverage on shares of EQT in a research report on Wednesday, August 20th. They issued a "buy" rating and a $64.00 price objective for the company. Finally, Roth Capital lowered shares of EQT from a "strong-buy" rating to a "neutral" rating and cut their price objective for the company from $75.00 to $57.00 in a research report on Monday, August 18th. Fifteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.14.

EQT Trading Down 0.0%

EQT traded down $0.02 during trading on Friday, hitting $50.94. 4,746,454 shares of the company's stock were exchanged, compared to its average volume of 5,904,740. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.32. EQT Corporation has a 1 year low of $32.83 and a 1 year high of $61.02. The stock has a 50 day moving average price of $52.94 and a 200 day moving average price of $53.13. The firm has a market cap of $31.79 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 0.41 and a beta of 0.58.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). EQT had a return on equity of 6.24% and a net margin of 15.87%.The business had revenue of $1.60 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. As a group, analysts expect that EQT Corporation will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 6th were paid a $0.1575 dividend. The ex-dividend date was Wednesday, August 6th. This represents a $0.63 annualized dividend and a dividend yield of 1.2%. EQT's dividend payout ratio is 34.05%.

Insider Buying and Selling at EQT

In other news, Director Vicky A. Bailey sold 4,259 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total value of $219,594.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sarah Fenton sold 12,438 shares of the company's stock in a transaction 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 transaction, the executive vice president owned 13,297 shares of the company's stock, valued at $690,646.18. This trade represents a 48.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.

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.