Diamond Hill Capital Management LLC Investment Advisor Purchases Shares of 2,072,158 EQT Corporation $EQT

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of EQT Corporation (NYSE:EQT) in the second quarter, according to its most recent filing with the SEC. The firm purchased 2,072,158 shares of the oil and gas producer’s stock, valued at approximately $110,177,000. Diamond Hill Capital Management LLC Investment Advisor owned 0.33% of EQT at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in EQT. Greykasell Wealth Strategies Inc. acquired a new position in shares of EQT in the 4th quarter valued at about $26,000. Elyxium Wealth LLC acquired a new stake in EQT during the fourth quarter worth approximately $49,000. Root Financial Partners LLC grew its stake in EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock worth $49,000 after purchasing an additional 202 shares during the period. State of Wyoming bought a new stake in EQT in the second quarter worth approximately $58,000. Finally, Sunbelt Securities Inc. bought a new stake in EQT in the third quarter worth approximately $114,000. 90.81% of the stock is owned by institutional investors.

EQT Trading Up 0.0%

NYSE EQT opened at $54.44 on Monday. The company has a market cap of $34.05 billion, a price-to-earnings ratio of 12.63 and a beta of 0.58. EQT Corporation has a 52 week low of $47.94 and a 52 week high of $68.24. The business has a 50 day moving average price of $51.87 and a 200-day moving average price of $56.54. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a return on equity of 9.31% and a net margin of 28.44%.The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period in the previous year, the company earned $0.45 earnings per share. EQT’s revenue for the quarter was down 29.2% compared to the same quarter last year. As a group, equities analysts expect that EQT Corporation will post 4.06 earnings per share for the current fiscal year.

EQT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 5th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. EQT’s payout ratio is 15.31%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EQT. UBS Group cut their price target on EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Wall Street Zen lowered shares of EQT from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Capital One Financial boosted their target price on shares of EQT from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. cut their target price on shares of EQT from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 23rd. Finally, Barclays raised their price target on shares of EQT from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.08.

Insiders Place Their Bets

In other EQT news, CEO Toby Z. Rice sold 96,983 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $54.28, for a total transaction of $5,264,237.24. Following the transaction, the chief executive officer owned 2,334,924 shares in the company, valued at approximately $126,739,674.72. This represents a 3.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.72% of the company’s stock.

EQT Company Profile

EQT Corporation (NYSE: EQT) is a U.S.-based energy company focused on the exploration, development and production of natural gas. Headquartered in Pittsburgh, Pennsylvania, the company concentrates its upstream operations in the Appalachian Basin, producing from major shale formations including the Marcellus and Utica. EQT’s primary product is natural gas, with production activities supported by associated liquids and conventional gas assets where applicable.

In addition to drilling and well development, EQT operates and coordinates the infrastructure and commercial activities necessary to bring gas to market.