EQT Co. (EQT) Holdings Boosted by Precocity Capital LP
Precocity Capital LP grew its stake in shares of EQT Co. (NYSE:EQT) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 400,000 shares of the oil and gas producer’s stock after buying an additional 40,000 shares during the period. EQT makes up 4.3% of Precocity Capital LP’s portfolio, making the stock its 3rd biggest position. Precocity Capital LP owned approximately 0.15% of EQT worth $22,072,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Xact Kapitalforvaltning AB lifted its holdings in shares of EQT by 3.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 28,774 shares of the oil and gas producer’s stock valued at $1,588,000 after purchasing an additional 919 shares in the last quarter. OLD National Bancorp IN lifted its holdings in shares of EQT by 17.5% during the 2nd quarter. OLD National Bancorp IN now owns 6,472 shares of the oil and gas producer’s stock valued at $357,000 after purchasing an additional 966 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in shares of EQT by 9.0% during the 1st quarter. Flinton Capital Management LLC now owns 12,180 shares of the oil and gas producer’s stock valued at $579,000 after purchasing an additional 1,008 shares in the last quarter. Securian Asset Management Inc lifted its holdings in shares of EQT by 4.2% during the 2nd quarter. Securian Asset Management Inc now owns 25,390 shares of the oil and gas producer’s stock valued at $1,401,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of EQT by 3.6% during the 2nd quarter. Mutual of America Capital Management LLC now owns 32,521 shares of the oil and gas producer’s stock valued at $1,795,000 after purchasing an additional 1,137 shares in the last quarter. Hedge funds and other institutional investors own 92.46% of the company’s stock.
Shares of NYSE:EQT traded down $0.18 during trading on Friday, hitting $51.12. 11,025 shares of the company were exchanged, compared to its average volume of 3,109,236. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 34.90, a price-to-earnings-growth ratio of 1.48 and a beta of 0.57. EQT Co. has a fifty-two week low of $43.70 and a fifty-two week high of $66.03. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.47.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 1st. Shareholders of record on Friday, August 10th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Thursday, August 9th. EQT’s dividend payout ratio (DPR) is 8.16%.
EQT has been the topic of several recent analyst reports. Royal Bank of Canada set a $74.00 price objective on EQT and gave the company a “buy” rating in a report on Thursday, July 19th. JPMorgan Chase & Co. set a $70.00 price objective on EQT and gave the company a “buy” rating in a report on Wednesday, June 13th. Stifel Nicolaus initiated coverage on EQT in a report on Wednesday, May 23rd. They set a “buy” rating and a $65.00 price objective on the stock. LADENBURG THALM/SH SH set a $70.00 price objective on EQT and gave the company a “buy” rating in a report on Friday, August 17th. Finally, TheStreet upgraded EQT from a “d+” rating to a “c-” rating in a report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $69.57.
In related news, Director Kenneth Michael Burke purchased 5,000 shares of the stock in a transaction on Thursday, August 9th. The shares were purchased at an average price of $50.20 per share, with a total value of $251,000.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $251,000. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Joseph Mcnally purchased 4,000 shares of the stock in a transaction on Wednesday, June 6th. The shares were bought at an average cost of $51.18 per share, for a total transaction of $204,720.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,385 shares of company stock worth $476,964 in the last ninety days. Insiders own 0.68% of the company’s stock.
EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.
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