Viking Global Investors LP trimmed its position in shares of EQT Co. (NYSE:EQT) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,302,644 shares of the oil and gas producer’s stock after selling 184,481 shares during the quarter. Viking Global Investors LP’s holdings in EQT were worth $131,066,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of EQT by 29.7% in the fourth quarter. BlackRock Inc. now owns 18,616,806 shares of the oil and gas producer’s stock worth $1,059,671,000 after acquiring an additional 4,265,536 shares during the period. Share Andrew L. acquired a new position in shares of EQT in the fourth quarter worth approximately $580,007,000. Wedge Capital Management L L P NC lifted its stake in shares of EQT by 27.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 3,797,012 shares of the oil and gas producer’s stock worth $216,126,000 after acquiring an additional 820,493 shares during the period. Aristotle Capital Management LLC lifted its stake in shares of EQT by 3.7% in the fourth quarter. Aristotle Capital Management LLC now owns 3,676,212 shares of the oil and gas producer’s stock worth $209,250,000 after acquiring an additional 132,571 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of EQT by 44.1% in the fourth quarter. Geode Capital Management LLC now owns 2,555,286 shares of the oil and gas producer’s stock worth $145,137,000 after acquiring an additional 782,352 shares during the period. 90.87% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the company. SunTrust Banks reaffirmed a “hold” rating and issued a $65.00 price objective on shares of EQT in a research note on Friday, December 8th. Morgan Stanley cut their price objective on EQT from $63.00 to $59.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 24th. Jefferies Group set a $62.00 price objective on EQT and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Credit Suisse Group assumed coverage on EQT in a research note on Monday, December 11th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Royal Bank of Canada raised EQT from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $45.73 to $77.00 in a research note on Monday, February 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. EQT currently has an average rating of “Buy” and an average price target of $77.38.
EQT (NYSE:EQT) last issued its earnings results on Thursday, February 15th. The oil and gas producer reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.54. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $909.42 million. EQT had a return on equity of 2.35% and a net margin of 44.66%. The firm’s revenue for the quarter was up 197.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. equities analysts anticipate that EQT Co. will post 1.69 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Wednesday, February 14th were issued a dividend of $0.03 per share. The ex-dividend date was Tuesday, February 13th. This represents a $0.12 annualized dividend and a dividend yield of 0.23%. EQT’s dividend payout ratio is 1.68%.
TRADEMARK VIOLATION NOTICE: This article was originally posted by Markets Daily and is the property of of Markets Daily. If you are reading this article on another domain, it was stolen and republished in violation of United States and international copyright and trademark law. The original version of this article can be read at https://www.themarketsdaily.com/2018/03/11/viking-global-investors-lp-sells-184481-shares-of-eqt-co-eqt.html.
EQT Company Profile
EQT Corporation is a natural gas company. The Company operates through three segments: EQT Production, EQT Gathering and EQT Transmission. The EQT Production segment includes its exploration for, and development and production of, natural gas, natural gas liquids and a limited amount of crude oil, primarily in the Appalachian Basin.
Want to see what other hedge funds are holding EQT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for EQT Co. (NYSE:EQT).
Receive News & Ratings for EQT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EQT and related companies with MarketBeat.com's FREE daily email newsletter.