Exxonmobil Investment Management Inc. TX Lowers Position in EQT Corp. (EQT)
Exxonmobil Investment Management Inc. TX decreased its stake in shares of EQT Corp. (NYSE:EQT) by 1.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,108 shares of the company’s stock after selling 605 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in EQT Corp. were worth $3,203,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of EQT. Vanguard Group Inc. raised its position in EQT Corp. by 10.4% in the second quarter. Vanguard Group Inc. now owns 15,983,499 shares of the company’s stock valued at $1,237,603,000 after buying an additional 1,508,708 shares during the period. State Street Corp raised its stake in EQT Corp. by 3.5% in the second quarter. State Street Corp now owns 8,603,079 shares of the company’s stock worth $666,134,000 after buying an additional 289,069 shares in the last quarter. Boston Partners raised its stake in EQT Corp. by 89.9% in the second quarter. Boston Partners now owns 6,902,638 shares of the company’s stock worth $534,471,000 after buying an additional 3,268,060 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in EQT Corp. by 9.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,420,994 shares of the company’s stock worth $342,318,000 after buying an additional 367,474 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in EQT Corp. by 13.1% in the second quarter. BlackRock Fund Advisors now owns 3,089,591 shares of the company’s stock worth $239,227,000 after buying an additional 358,172 shares in the last quarter. Institutional investors own 89.09% of the company’s stock.
Shares of EQT Corp. (NYSE:EQT) traded up 1.10% during midday trading on Tuesday, hitting $70.97. 1,200,811 shares of the stock traded hands. EQT Corp. has a 12-month low of $47.10 and a 12-month high of $80.61. The company’s market capitalization is $12.26 billion. The firm’s 50 day moving average price is $66.99 and its 200 day moving average price is $71.62.
EQT Corp. (NYSE:EQT) last issued its quarterly earnings data on Thursday, October 27th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.41) by $0.15. EQT Corp. had a negative return on equity of 1.14% and a negative net margin of 21.61%. The business earned $502.55 million during the quarter, compared to analyst estimates of $456.55 million. During the same period in the previous year, the firm earned ($0.33) EPS. EQT Corp.’s quarterly revenue was down 4.7% compared to the same quarter last year. Analysts expect that EQT Corp. will post ($0.58) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Friday, November 11th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.17%. The ex-dividend date is Tuesday, November 8th. EQT Corp.’s payout ratio is -4.92%.
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A number of research firms have commented on EQT. Howard Weil lowered shares of EQT Corp. from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $91.00 to $90.00 in a research note on Thursday, August 11th. Drexel Hamilton began coverage on shares of EQT Corp. in a research note on Thursday, November 17th. They set a “buy” rating for the company. Tudor Pickering lowered shares of EQT Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, October 13th. Zacks Investment Research lowered shares of EQT Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. Finally, KLR Group reissued a “buy” rating and issued a $95.00 price target (down from $100.00) on shares of EQT Corp. in a research report on Monday, August 1st. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $78.11.
About EQT Corp.
EQT Corporation (EQT) is an energy company. The Company operates through two business segments: EQT Production and EQT Midstream. EQT Production is a natural gas producer in the Appalachian Basin with over 10 trillion cubic feet equivalent (Tcfe) of natural gas, natural gas liquid (NGL) and crude oil reserves across approximately 3.4 million acres, including approximately 630,000 gross acres in the Marcellus play.
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