Oppenheimer Asset Management Inc. Raises Stock Holdings in EQT Co. (NYSE:EQT)

Oppenheimer Asset Management Inc. boosted its holdings in shares of EQT Co. (NYSE:EQT) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,730 shares of the oil and gas producer’s stock after purchasing an additional 1,408 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in EQT were worth $545,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC acquired a new stake in shares of EQT during the second quarter worth approximately $28,000. Wolff Wiese Magana LLC grew its holdings in EQT by 936.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock worth $37,000 after acquiring an additional 908 shares in the last quarter. Blue Trust Inc. increased its position in shares of EQT by 149.5% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 598 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of EQT in the 4th quarter valued at about $51,000. Finally, Industrial Alliance Investment Management Inc. lifted its position in shares of EQT by 65.5% during the second quarter. Industrial Alliance Investment Management Inc. now owns 1,440 shares of the oil and gas producer’s stock worth $53,000 after purchasing an additional 570 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Stock Up 0.3 %

EQT opened at $34.83 on Friday. The stock’s 50 day moving average price is $33.28 and its 200 day moving average price is $36.45. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $15.38 billion, a P/E ratio of 25.24 and a beta of 1.06. EQT Co. has a 12 month low of $30.02 and a 12 month high of $45.23.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.12. The company had revenue of $952.51 million for the quarter, compared to analyst estimates of $1.06 billion. EQT had a return on equity of 4.52% and a net margin of 12.45%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. As a group, research analysts predict that EQT Co. will post 1.44 earnings per share for the current year.

EQT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a $0.1575 dividend. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Wednesday, August 7th. EQT’s dividend payout ratio is currently 45.65%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com raised EQT to a “sell” rating in a report on Friday, July 26th. Scotiabank upped their price target on EQT from $54.00 to $55.00 and gave the company a “sector outperform” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. reduced their price objective on EQT from $42.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Truist Financial lowered their target price on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research note on Monday, July 22nd. Finally, Piper Sandler downgraded shares of EQT from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $32.00 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $43.28.

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.