Cwm LLC Decreases Stock Holdings in EQT Co. (NYSE:EQT)

Cwm LLC cut its stake in EQT Co. (NYSE:EQT) by 4.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,391 shares of the oil and gas producer’s stock after selling 390 shares during the period. Cwm LLC’s holdings in EQT were worth $348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in EQT by 61.9% during the third quarter. Wellington Management Group LLP now owns 19,687,594 shares of the oil and gas producer’s stock worth $798,923,000 after purchasing an additional 7,526,875 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of EQT by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 44,899,640 shares of the oil and gas producer’s stock worth $1,822,027,000 after buying an additional 3,539,661 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of EQT by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 52,883,676 shares of the oil and gas producer’s stock worth $2,044,484,000 after buying an additional 3,159,700 shares in the last quarter. Boston Partners grew its stake in EQT by 4,680.4% in the 4th quarter. Boston Partners now owns 2,868,030 shares of the oil and gas producer’s stock valued at $110,854,000 after acquiring an additional 2,808,034 shares during the last quarter. Finally, Third Point LLC purchased a new position in EQT during the 4th quarter valued at about $75,387,000. 90.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at EQT

In related news, EVP William E. Jordan sold 35,000 shares of EQT stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total value of $1,425,200.00. Following the completion of the sale, the executive vice president now owns 456,837 shares in the company, valued at $18,602,402.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP William E. Jordan sold 35,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $40.72, for a total transaction of $1,425,200.00. Following the transaction, the executive vice president now owns 456,837 shares of the company’s stock, valued at $18,602,402.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lesley Evancho sold 46,884 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $41.29, for a total value of $1,935,840.36. Following the completion of the sale, the insider now directly owns 160,884 shares of the company’s stock, valued at $6,642,900.36. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EQT has been the topic of several research reports. Sanford C. Bernstein upgraded shares of EQT from an “underperform” rating to a “market perform” rating and increased their price target for the company from $27.00 to $34.00 in a research report on Wednesday, April 10th. StockNews.com raised EQT to a “sell” rating in a research report on Wednesday, May 29th. Jefferies Financial Group increased their price objective on EQT from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. TD Cowen initiated coverage on EQT in a research report on Friday, April 19th. They set a “hold” rating and a $43.00 price objective for the company. Finally, The Goldman Sachs Group reduced their target price on shares of EQT from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.24.

EQT Price Performance

Shares of EQT stock opened at $36.97 on Friday. The firm has a fifty day simple moving average of $39.72 and a 200-day simple moving average of $37.61. The company has a market capitalization of $16.33 billion, a PE ratio of 26.79 and a beta of 1.06. EQT Co. has a twelve month low of $32.07 and a twelve month high of $45.23. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

EQT (NYSE:EQT) last posted its quarterly earnings data on Tuesday, April 23rd. The oil and gas producer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.17. EQT had a net margin of 10.96% and a return on equity of 4.57%. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the company posted $1.70 EPS. The firm’s revenue for the quarter was down 28.8% on a year-over-year basis. Equities research analysts anticipate that EQT Co. will post 1.03 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Shareholders of record on Wednesday, May 8th were issued a dividend of $0.1575 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.63 annualized dividend and a yield of 1.70%. EQT’s dividend payout ratio is presently 45.65%.

EQT 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.