WINTON GROUP Ltd Takes Position in EQT Corporation $EQT

Key Points

• Winton Group Ltd. acquired 78,791 EQT shares in the second quarter, valued at approximately $4.19 million. Institutional investors and hedge funds collectively own 90.81% of EQT.
• EQT reported quarterly revenue of $1.68 billion and EPS of $0.39, both below analyst expectations, while revenue declined 29.2% year over year. The company paid a quarterly dividend of $0.165 per share, representing a 1.2% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $68, compared with the stock’s reported opening price of $55.02.

WINTON GROUP Ltd 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 fund bought 78,791 shares of the oil and gas producer's stock, valued at approximately $4,189,000.

Several other hedge funds also recently added to or reduced their stakes in EQT. Greykasell Wealth Strategies Inc. acquired a new stake in EQT in the fourth quarter worth about $26,000. Meeder Asset Management Inc. acquired a new position in shares of EQT during the second quarter valued at about $26,000. Community Bank N.A. increased its holdings in shares of EQT by 198.9% during the second quarter. Community Bank N.A. now owns 523 shares of the oil and gas producer's stock valued at $28,000 after acquiring an additional 348 shares in the last quarter. Wedbush Fund Advisers LLC raised its position in shares of EQT by 251.8% in the 2nd quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer's stock valued at $31,000 after purchasing an additional 413 shares during the last quarter. Finally, Continuum Advisory LLC purchased a new position in shares of EQT in the 2nd quarter valued at approximately $32,000. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Stock Performance

Shares of NYSE EQT opened at $55.02 on Friday. The company has a 50 day simple moving average of $52.87 and a two-hundred day simple moving average of $56.22. The stock has a market cap of $34.42 billion, a price-to-earnings ratio of 12.77 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 12 month low of $47.94 and a 12 month high of $68.24.

EQT (NYSE:EQT - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the company earned $0.45 EPS. The firm's revenue was down 29.2% compared to the same quarter last year. As a group, analysts predict that EQT Corporation will post 3.96 earnings per share for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, August 5th. EQT's dividend payout ratio (DPR) is currently 15.31%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EQT. Citigroup dropped their target price on shares of EQT from $70.00 to $67.00 and set a "buy" rating on the stock in a research report on Tuesday, July 28th. Weiss Ratings downgraded shares of EQT from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, July 30th. Stephens boosted their price objective on shares of EQT from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Wednesday, July 22nd. Freedom Capital raised EQT to a "strong-buy" rating in a research report on Tuesday, June 30th. Finally, Barclays lowered their price target on EQT from $70.00 to $68.00 and set an "overweight" rating for the company in a research report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Insiders Place Their Bets

In other EQT news, CEO Toby Rice sold 175,328 shares of EQT stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.72% of the company's stock.

EQT Company Profile

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company primarily develops and operates unconventional oil and gas properties in the Appalachian Basin, with a focus on natural gas production from the Marcellus and Utica shale formations.

EQT's products include natural gas, natural gas liquids and condensate. Its operations span drilling, well completion, production and related gathering activities, supporting the delivery of energy to utilities, industrial customers, marketers and other buyers.

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