Victory Capital Management Inc. Raises Stock Position in EQT Co. (NYSE:EQT)

Victory Capital Management Inc. lifted its stake in EQT Co. (NYSE:EQT) by 216.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 737,309 shares of the oil and gas producer’s stock after buying an additional 504,113 shares during the period. Victory Capital Management Inc.’s holdings in EQT were worth $27,015,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HM Payson & Co. purchased a new position in shares of EQT during the third quarter worth about $25,000. Innealta Capital LLC purchased a new position in EQT during the 2nd quarter worth approximately $28,000. Hexagon Capital Partners LLC grew its stake in EQT by 18,080.0% during the 3rd quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer’s stock worth $33,000 after buying an additional 904 shares during the last quarter. Blue Trust Inc. increased its position in EQT by 149.5% during the second quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 598 shares during the period. Finally, Wolff Wiese Magana LLC lifted its stake in EQT by 936.1% in the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer’s stock valued at $37,000 after buying an additional 908 shares during the last quarter. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. BMO Capital Markets lifted their target price on shares of EQT from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, October 4th. StockNews.com raised shares of EQT to a “sell” rating in a report on Friday, July 26th. Bank of America began coverage on EQT in a report on Monday, October 28th. They set a “buy” rating and a $50.00 price target on the stock. UBS Group upped their price objective on EQT from $40.00 to $42.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Stephens lifted their target price on EQT from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.83.

EQT Stock Performance

Shares of EQT opened at $42.71 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. EQT Co. has a 52-week low of $30.02 and a 52-week high of $44.28. The company has a 50-day simple moving average of $36.91 and a 200-day simple moving average of $36.79. The company has a market capitalization of $25.48 billion, a PE ratio of 50.85 and a beta of 1.06.

EQT (NYSE:EQT) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.30 EPS. Equities research analysts predict that EQT Co. will post 1.28 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be issued a $0.1575 dividend. This represents a $0.63 annualized dividend and a yield of 1.48%. The ex-dividend date is Wednesday, November 6th. EQT’s dividend payout ratio (DPR) is 75.00%.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.