Voleon Capital Management LP Buys Shares of 42,849 EQT Co. (NYSE:EQT)

Voleon Capital Management LP purchased a new position in shares of EQT Co. (NYSE:EQT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 42,849 shares of the oil and gas producer's stock, valued at approximately $1,976,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in EQT by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 72,530,286 shares of the oil and gas producer's stock worth $3,344,371,000 after acquiring an additional 358,649 shares during the last quarter. Geode Capital Management LLC lifted its holdings in EQT by 3.1% during the 4th quarter. Geode Capital Management LLC now owns 14,427,307 shares of the oil and gas producer's stock worth $663,552,000 after purchasing an additional 429,733 shares during the last quarter. Capital International Investors boosted its stake in EQT by 21.3% in the 4th quarter. Capital International Investors now owns 13,855,244 shares of the oil and gas producer's stock valued at $638,867,000 after purchasing an additional 2,433,632 shares during the period. Clearbridge Investments LLC grew its holdings in EQT by 14.7% in the 4th quarter. Clearbridge Investments LLC now owns 13,829,938 shares of the oil and gas producer's stock valued at $637,698,000 after buying an additional 1,774,696 shares in the last quarter. Finally, Invesco Ltd. increased its position in EQT by 46.3% during the 4th quarter. Invesco Ltd. now owns 13,143,774 shares of the oil and gas producer's stock worth $606,059,000 after buying an additional 4,162,065 shares during the period. Institutional investors and hedge funds own 90.81% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on EQT. Truist Financial upped their price target on shares of EQT from $41.00 to $56.00 and gave the company a "hold" rating in a research note on Monday, January 13th. Wells Fargo & Company raised their target price on shares of EQT from $53.00 to $58.00 and gave the stock an "overweight" rating in a report on Wednesday, March 19th. Sanford C. Bernstein raised EQT from a "market perform" rating to an "outperform" rating and set a $73.00 price target on the stock in a research report on Wednesday, January 15th. TD Cowen raised EQT from a "hold" rating to a "buy" rating and set a $54.00 price objective for the company in a report on Tuesday, April 8th. Finally, Stephens reduced their target price on EQT from $59.00 to $57.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $55.94.

EQT Trading Down 0.4 %

Shares of NYSE:EQT traded down $0.20 during midday trading on Tuesday, reaching $53.32. The company's stock had a trading volume of 1,932,544 shares, compared to its average volume of 7,821,044. The firm has a 50 day moving average price of $50.36 and a two-hundred day moving average price of $47.77. EQT Co. has a fifty-two week low of $30.02 and a fifty-two week high of $56.66. The firm has a market capitalization of $31.92 billion, a price-to-earnings ratio of 133.62, a PEG ratio of 0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.51 and a current ratio of 0.70.

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

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Wednesday, May 7th will be paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, May 7th. EQT's dividend payout ratio is currently 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.