EQT Corporation (NYSE:EQT) Stake Maintained by Bright Rock Capital Management LLC
Bright Rock Capital Management LLC maintained its position in EQT Corporation (NYSE:EQT) during the second quarter, Holdings Channel reports. The institutional investor owned 24,000 shares of the oil and gas producer’s stock at the end of the second quarter. Bright Rock Capital Management LLC’s holdings in EQT Corporation were worth $1,406,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in EQT. Point72 Asia Hong Kong Ltd purchased a new stake in shares of EQT Corporation during the first quarter worth about $110,000. Invictus RG bought a new stake in EQT Corporation during the first quarter valued at $119,000. Pacer Advisors Inc. boosted its stake in EQT Corporation by 3.1% in the first quarter. Pacer Advisors Inc. now owns 3,255 shares of the oil and gas producer’s stock valued at $199,000 after buying an additional 99 shares during the last quarter. Wetherby Asset Management Inc. bought a new stake in EQT Corporation during the first quarter valued at $211,000. Finally, Fisher Asset Management LLC boosted its stake in EQT Corporation by 7.0% in the first quarter. Fisher Asset Management LLC now owns 3,474 shares of the oil and gas producer’s stock valued at $212,000 after buying an additional 226 shares during the last quarter. 90.45% of the stock is owned by institutional investors.
EQT Corporation (NYSE:EQT) opened at 62.71 on Thursday. The firm’s 50-day moving average price is $60.93 and its 200 day moving average price is $59.87. The company has a market capitalization of $10.87 billion, a PE ratio of 2239.64 and a beta of 0.77. EQT Corporation has a 52 week low of $49.63 and a 52 week high of $75.74.
EQT Corporation (NYSE:EQT) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas producer reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. The firm had revenue of $631.10 million for the quarter, compared to the consensus estimate of $642.21 million. EQT Corporation had a return on equity of 0.91% and a net margin of 0.20%. The company’s quarterly revenue was up 720.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.35) earnings per share. Equities research analysts expect that EQT Corporation will post $1.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 11th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Wednesday, August 9th. EQT Corporation’s payout ratio is currently 400.13%.
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Several research analysts have recently issued reports on EQT shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $86.00 target price on shares of EQT Corporation in a research note on Friday, June 2nd. Stifel Nicolaus reissued a “buy” rating and set a $81.00 price objective (up previously from $63.00) on shares of EQT Corporation in a research note on Tuesday, May 2nd. KLR Group reissued a “buy” rating and set a $102.00 price objective (up previously from $92.00) on shares of EQT Corporation in a research note on Monday, June 26th. Cowen and Company set a $80.00 price target on shares of EQT Corporation and gave the company a “buy” rating in a research note on Tuesday, July 18th. Finally, BMO Capital Markets set a $70.00 price target on shares of EQT Corporation and gave the company a “buy” rating in a research note on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. EQT Corporation currently has an average rating of “Buy” and an average target price of $80.38.
In other EQT Corporation news, CEO Steven T. Schlotterbeck purchased 2,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were purchased at an average cost of $52.14 per share, with a total value of $104,280.00. Following the completion of the acquisition, the chief executive officer now directly owns 115,178 shares in the company, valued at approximately $6,005,380.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Joseph Mcnally purchased 1,500 shares of the stock in a transaction dated Wednesday, June 21st. The shares were acquired at an average cost of $50.00 per share, for a total transaction of $75,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 41,901 shares of company stock worth $2,211,775. Corporate insiders own 1.00% of the company’s stock.
EQT Corporation 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.
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