193,845 Shares in EQT Corporation $EQT Acquired by Castleark Management LLC

Castleark Management LLC purchased a new position in EQT Corporation (NYSE:EQT) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 193,845 shares of the oil and gas producer’s stock, valued at approximately $10,307,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Reaves W H & Co. Inc. increased its stake in shares of EQT by 12.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock worth $62,282,000 after buying an additional 132,741 shares during the period. Cullen Frost Bankers Inc. boosted its position in EQT by 21.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 186,352 shares of the oil and gas producer’s stock valued at $9,988,000 after buying an additional 32,921 shares during the period. BOKF NA boosted its position in EQT by 25.9% during the 4th quarter. BOKF NA now owns 138,368 shares of the oil and gas producer’s stock valued at $7,417,000 after buying an additional 28,427 shares during the period. Allstate Corp grew its holdings in EQT by 114.0% in the 4th quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer’s stock worth $2,601,000 after acquiring an additional 25,852 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in EQT by 9.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,072 shares of the oil and gas producer’s stock worth $31,253,000 after acquiring an additional 48,587 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

Insider Activity at EQT

In other news, CEO Toby Z. Rice sold 175,328 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares in the company, valued at $118,747,310.95. This represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 274,042 shares of company stock worth $15,005,076 in the last 90 days. Corporate insiders own 0.72% of the company’s stock.

EQT Stock Up 0.4%

Shares of NYSE:EQT opened at $54.00 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $52.10 and a two-hundred day simple moving average of $56.44. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24. The stock has a market capitalization of $33.78 billion, a price-to-earnings ratio of 12.53 and a beta of 0.58.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. EQT had a net margin of 28.44% and a return on equity of 9.31%. EQT’s revenue was down 29.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. On average, research analysts anticipate that EQT Corporation will post 3.97 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 5th. EQT’s dividend payout ratio is currently 15.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on EQT shares. JPMorgan Chase & Co. lowered their price objective on shares of EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, June 23rd. Freedom Capital raised EQT to a “strong-buy” rating in a research report on Tuesday, June 30th. Morgan Stanley dropped their price objective on EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, August 19th. Barclays reduced their target price on EQT from $70.00 to $68.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Finally, UBS Group decreased their target price on EQT from $74.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.10.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.