Hodges Capital Management Inc. Acquires Shares of 37,010 EQT Corporation $EQT

Hodges Capital Management Inc. purchased a new position in EQT Corporation (NYSE:EQT) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 37,010 shares of the oil and gas producer’s stock, valued at approximately $1,977,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC purchased a new stake in EQT during the 1st quarter worth approximately $120,252,000. Vanguard Group Inc. boosted its stake in shares of EQT by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 74,039,340 shares of the oil and gas producer’s stock valued at $3,955,922,000 after buying an additional 1,509,054 shares during the last quarter. Ninepoint Partners LP grew its position in shares of EQT by 200.0% during the first quarter. Ninepoint Partners LP now owns 1,500,000 shares of the oil and gas producer’s stock worth $80,145,000 after buying an additional 1,000,000 shares in the last quarter. Situational Awareness LP bought a new stake in shares of EQT in the first quarter worth $52,864,000. Finally, Atalanta Sosnoff Capital LLC bought a new stake in shares of EQT in the first quarter worth $49,392,000. Hedge funds and other institutional investors own 90.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on EQT shares. Roth Capital downgraded shares of EQT from a “strong-buy” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $57.00 in a research note on Monday, August 18th. Scotiabank increased their price target on shares of EQT from $66.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 13th. Bank of America increased their price target on shares of EQT from $63.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Melius Research initiated coverage on shares of EQT in a research report on Wednesday, August 20th. They set a “buy” rating and a $64.00 price target on the stock. Finally, Mizuho raised shares of EQT to an “outperform” rating and set a $66.00 price target on the stock in a research report on Tuesday, July 8th. Fifteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.14.

Insider Activity

In related news, EVP Sarah Fenton sold 12,438 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $51.94, for a total transaction of $646,029.72. Following the sale, the executive vice president owned 13,297 shares in the company, valued at $690,646.18. This represents a 48.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $51.56, for a total transaction of $219,594.04. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

EQT Stock Performance

Shares of EQT stock opened at $50.94 on Friday. The stock has a market capitalization of $31.79 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 0.42 and a beta of 0.58. EQT Corporation has a one year low of $32.83 and a one year high of $61.02. The company’s 50-day simple moving average is $52.94 and its 200-day simple moving average is $53.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.71 and a current ratio of 0.71.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, July 22nd. The oil and gas producer reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.78 billion. EQT had a return on equity of 6.24% and a net margin of 15.87%.During the same quarter last year, the company earned ($0.08) EPS. Equities analysts anticipate that EQT Corporation will post 3.27 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 6th were paid a dividend of $0.1575 per share. The ex-dividend date was Wednesday, August 6th. This represents a $0.63 annualized dividend and a yield of 1.2%. EQT’s dividend payout ratio is 34.05%.

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.