AQR Capital Management LLC Trims Stake in EQT Co. (NYSE:EQT)

AQR Capital Management LLC reduced its stake in EQT Co. (NYSE:EQT) by 61.1% during the second quarter, HoldingsChannel.com reports. The firm owned 36,778 shares of the oil and gas producer’s stock after selling 57,753 shares during the quarter. AQR Capital Management LLC’s holdings in EQT were worth $1,360,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in shares of EQT in the second quarter worth $28,000. Wolff Wiese Magana LLC increased its position in EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after acquiring an additional 908 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock valued at $37,000 after purchasing an additional 598 shares during the period. EverSource Wealth Advisors LLC lifted its stake in EQT by 414.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,472 shares of the oil and gas producer’s stock worth $51,000 after acquiring an additional 1,186 shares during the period. 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 valued at $53,000 after buying an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of EQT from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $40.00 to $42.00 in a report on Wednesday, August 14th. Truist Financial decreased their price objective on shares of EQT from $36.00 to $32.00 and set a “hold” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of EQT from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, September 26th. StockNews.com upgraded EQT to a “sell” rating in a research note on Friday, July 26th. Finally, Piper Sandler lowered shares of EQT from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $43.00 to $32.00 in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.18.

EQT Stock Up 0.2 %

Shares of NYSE:EQT opened at $36.62 on Friday. The firm has a market capitalization of $16.17 billion, a PE ratio of 26.54 and a beta of 1.06. EQT Co. has a 1 year low of $30.02 and a 1 year high of $45.23. 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 firm’s 50-day moving average is $33.61 and its two-hundred day moving average is $36.59.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.12. The company had revenue of $952.51 million during the quarter, compared to analysts’ expectations of $1.06 billion. EQT had a net margin of 12.45% and a return on equity of 4.52%. The firm’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.17) EPS. Analysts predict that EQT Co. will post 1.37 EPS for the current year.

EQT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. This represents a $0.63 annualized dividend and a yield of 1.72%. EQT’s dividend payout ratio is currently 45.65%.

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.