Neuburgh Advisers LLC Purchases 35,156 Shares of EQT Co. (EQT)
Neuburgh Advisers LLC boosted its position in EQT Co. (NYSE:EQT) by 193.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,346 shares of the oil and gas producer’s stock after buying an additional 35,156 shares during the period. Neuburgh Advisers LLC’s holdings in EQT were worth $1,008,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of EQT. Vanguard Group Inc boosted its position in EQT by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 28,073,288 shares of the oil and gas producer’s stock worth $1,241,682,000 after purchasing an additional 687,779 shares in the last quarter. BlackRock Inc. raised its stake in EQT by 30.4% in the 4th quarter. BlackRock Inc. now owns 23,893,102 shares of the oil and gas producer’s stock valued at $451,340,000 after purchasing an additional 5,573,274 shares during the last quarter. Canyon Capital Advisors LLC raised its stake in EQT by 9.7% in the 3rd quarter. Canyon Capital Advisors LLC now owns 5,888,910 shares of the oil and gas producer’s stock valued at $260,466,000 after purchasing an additional 521,200 shares during the last quarter. Sound Shore Management Inc. CT raised its stake in EQT by 38.9% in the 4th quarter. Sound Shore Management Inc. CT now owns 5,652,090 shares of the oil and gas producer’s stock valued at $106,768,000 after purchasing an additional 1,581,641 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in EQT by 4.7% in the 4th quarter. Wedge Capital Management L L P NC now owns 4,181,664 shares of the oil and gas producer’s stock valued at $78,992,000 after purchasing an additional 186,160 shares during the last quarter. Hedge funds and other institutional investors own 96.49% of the company’s stock.
EQT has been the subject of several recent research reports. Credit Suisse Group reissued a “buy” rating and issued a $24.00 price objective on shares of EQT in a research note on Tuesday, January 22nd. Stifel Nicolaus set a $79.00 price objective on EQT and gave the company a “buy” rating in a research note on Thursday, December 20th. JPMorgan Chase & Co. set a $24.00 price objective on EQT and gave the company a “buy” rating in a research note on Friday, December 7th. MKM Partners initiated coverage on EQT in a research note on Wednesday, December 5th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Citigroup reduced their price objective on EQT from $43.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $38.43.
EQT (NYSE:EQT) last issued its earnings results on Thursday, February 14th. The oil and gas producer reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.02). EQT had a positive return on equity of 4.46% and a negative net margin of 45.88%. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the business earned $0.76 earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts forecast that EQT Co. will post 1.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, February 14th. EQT’s dividend payout ratio (DPR) is presently 7.06%.
In other EQT news, Director Philip G. Behrman purchased 5,331 shares of the stock in a transaction dated Wednesday, December 26th. The stock was acquired at an average cost of $19.37 per share, for a total transaction of $103,261.47. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $387,400. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Robert Joseph Mcnally purchased 1,496 shares of the stock in a transaction dated Tuesday, February 19th. The shares were acquired at an average price of $19.10 per share, with a total value of $28,573.60. Following the completion of the acquisition, the chief executive officer now owns 180,245 shares in the company, valued at approximately $3,442,679.50. The disclosure for this purchase can be found here. Insiders acquired a total of 38,670 shares of company stock valued at $740,668 over the last ninety days. Corporate insiders own 0.68% of the company’s stock.
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EQT Company Profile
EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.
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