Glenorchy Capital Ltd Buys 2,053 Shares of EQT Co. (NYSE:EQT)

Glenorchy Capital Ltd raised its position in shares of EQT Co. (NYSE:EQT) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,200 shares of the oil and gas producer’s stock after acquiring an additional 2,053 shares during the quarter. Glenorchy Capital Ltd’s holdings in EQT were worth $1,729,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates boosted its position in shares of EQT by 30.7% during the third quarter. Raymond James & Associates now owns 966,434 shares of the oil and gas producer’s stock valued at $35,410,000 after purchasing an additional 226,845 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of EQT by 168.9% during the 3rd quarter. Blue Trust Inc. now owns 2,684 shares of the oil and gas producer’s stock valued at $99,000 after buying an additional 1,686 shares in the last quarter. Net Worth Advisory Group bought a new stake in shares of EQT during the 3rd quarter valued at $590,000. Stonegate Investment Group LLC grew its position in shares of EQT by 34.9% in the 3rd quarter. Stonegate Investment Group LLC now owns 9,006 shares of the oil and gas producer’s stock worth $330,000 after buying an additional 2,330 shares during the period. Finally, V Square Quantitative Management LLC increased its stake in shares of EQT by 25.5% in the 3rd quarter. V Square Quantitative Management LLC now owns 8,074 shares of the oil and gas producer’s stock worth $296,000 after acquiring an additional 1,638 shares in the last quarter. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Trading Down 1.5 %

Shares of EQT stock opened at $36.49 on Friday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33. EQT Co. has a 12-month low of $30.02 and a 12-month high of $45.23. The stock has a market capitalization of $16.11 billion, a P/E ratio of 26.44 and a beta of 1.06. The firm’s 50 day moving average is $34.39 and its 200 day moving average is $36.61.

EQT (NYSE:EQT) last released its quarterly earnings results on Tuesday, July 23rd. The oil and gas producer reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.12. EQT had a return on equity of 4.52% and a net margin of 12.45%. The firm had revenue of $952.51 million for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the firm earned ($0.17) EPS. The company’s revenue was down 6.5% compared to the same quarter last year. Research analysts expect that EQT Co. will post 1.37 earnings per share for the current year.

EQT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.1575 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.73%. EQT’s dividend payout ratio is currently 45.65%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BMO Capital Markets boosted their price objective on shares of EQT from $39.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, October 4th. Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on EQT from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Piper Sandler downgraded EQT from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $43.00 to $32.00 in a report on Thursday, August 15th. Finally, StockNews.com upgraded EQT to a “sell” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.18.

About EQT

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.