Oppenheimer & Co. Inc. Has $420,000 Position in EQT Co. (NYSE:EQT)
Oppenheimer & Co. Inc. boosted its holdings in EQT Co. (NYSE:EQT) by 9.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,550 shares of the oil and gas producer’s stock after buying an additional 2,200 shares during the period. Oppenheimer & Co. Inc.’s holdings in EQT were worth $420,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in EQT. Janney Montgomery Scott LLC increased its holdings in EQT by 78.5% in the first quarter. Janney Montgomery Scott LLC now owns 64,095 shares of the oil and gas producer’s stock valued at $1,329,000 after purchasing an additional 28,183 shares during the last quarter. Victory Capital Management Inc. grew its holdings in EQT by 13.5% during the first quarter. Victory Capital Management Inc. now owns 1,946,235 shares of the oil and gas producer’s stock valued at $40,365,000 after purchasing an additional 231,390 shares during the period. South Dakota Investment Council increased its stake in EQT by 791.4% in the first quarter. South Dakota Investment Council now owns 50,810 shares of the oil and gas producer’s stock valued at $1,054,000 after purchasing an additional 45,110 shares in the last quarter. Cidel Asset Management Inc. bought a new stake in EQT in the first quarter valued at approximately $207,000. Finally, Mason Street Advisors LLC raised its holdings in EQT by 1.7% in the first quarter. Mason Street Advisors LLC now owns 135,475 shares of the oil and gas producer’s stock worth $2,810,000 after purchasing an additional 2,206 shares during the period. 97.25% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Erin R. Centofanti sold 2,970 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $16.03, for a total transaction of $47,609.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.68% of the company’s stock.
EQT (NYSE:EQT) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas producer reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.13. EQT had a positive return on equity of 4.25% and a negative net margin of 7.41%. The business had revenue of $958.40 million during the quarter, compared to the consensus estimate of $929.86 million. During the same period last year, the company earned $0.44 earnings per share. EQT’s quarterly revenue was down 5.8% on a year-over-year basis. Analysts forecast that EQT Co. will post 0.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Friday, August 9th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, August 8th. EQT’s dividend payout ratio (DPR) is currently 7.06%.
Several brokerages have recently issued reports on EQT. Morgan Stanley decreased their price target on shares of EQT from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Friday, July 26th. Macquarie assumed coverage on EQT in a report on Wednesday, May 29th. They set a “neutral” rating and a $21.00 target price on the stock. Wells Fargo & Co raised EQT from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research note on Monday, May 20th. Finally, TD Securities lowered their price target on EQT from $17.50 to $16.00 and set a “hold” rating for the company in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. EQT currently has an average rating of “Hold” and a consensus target price of $31.03.
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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