Commonwealth Bank of Australia Sells 34,973 Shares of EQT Co. (EQT)
Commonwealth Bank of Australia cut its stake in shares of EQT Co. (NYSE:EQT) by 33.4% during the third quarter, HoldingsChannel.com reports. The firm owned 69,683 shares of the oil and gas producer’s stock after selling 34,973 shares during the period. Commonwealth Bank of Australia’s holdings in EQT were worth $3,207,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Chartwell Investment Partners LLC grew its stake in shares of EQT by 20.0% during the 2nd quarter. Chartwell Investment Partners LLC now owns 67,165 shares of the oil and gas producer’s stock worth $3,706,000 after purchasing an additional 11,190 shares during the period. State Treasurer State of Michigan grew its stake in EQT by 5.4% in the 3rd quarter. State Treasurer State of Michigan now owns 78,670 shares of the oil and gas producer’s stock valued at $3,480,000 after acquiring an additional 4,000 shares during the last quarter. Tredje AP fonden grew its stake in EQT by 57.6% in the 2nd quarter. Tredje AP fonden now owns 16,142 shares of the oil and gas producer’s stock valued at $891,000 after acquiring an additional 5,902 shares during the last quarter. US Bancorp DE grew its stake in EQT by 8.2% in the 2nd quarter. US Bancorp DE now owns 35,561 shares of the oil and gas producer’s stock valued at $1,962,000 after acquiring an additional 2,692 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in EQT by 10.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 20,488 shares of the oil and gas producer’s stock valued at $1,209,000 after acquiring an additional 1,869 shares during the last quarter. 93.86% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO Robert Joseph Mcnally acquired 2,829 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were acquired at an average cost of $32.93 per share, for a total transaction of $93,158.97. Following the acquisition, the chief financial officer now directly owns 47,715 shares in the company, valued at approximately $1,571,254.95. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Erin R. Centofanti acquired 6,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were bought at an average price of $33.07 per share, for a total transaction of $198,420.00. Following the completion of the acquisition, the executive vice president now owns 19,471 shares in the company, valued at $643,905.97. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 42,609 shares of company stock worth $1,447,612. Insiders own 0.68% of the company’s stock.
EQT (NYSE:EQT) last announced its quarterly earnings data on Thursday, October 25th. The oil and gas producer reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.11 billion. EQT had a negative net margin of 6.86% and a positive return on equity of 3.77%. During the same period in the prior year, the firm posted $0.12 EPS. Analysts forecast that EQT Co. will post 2.3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Wednesday, November 21st will be issued a dividend of $0.03 per share. The ex-dividend date is Tuesday, November 20th. This represents a $0.12 annualized dividend and a dividend yield of 0.72%. EQT’s payout ratio is currently 8.16%.
A number of brokerages recently commented on EQT. BMO Capital Markets reissued a “hold” rating and issued a $35.00 price objective on shares of EQT in a research note on Tuesday, November 13th. TheStreet upgraded shares of EQT from a “d+” rating to a “c-” rating in a report on Monday, July 23rd. Wells Fargo & Co restated a “market weight” rating and issued a $63.00 target price on shares of EQT in a report on Wednesday, October 24th. LADENBURG THALM/SH SH set a $70.00 target price on shares of EQT and gave the company a “buy” rating in a report on Friday, August 17th. Finally, TD Securities reduced their target price on shares of EQT from $53.00 to $20.00 and set a “hold” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $48.93.
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EQT Company Profile
EQT Corporation, together with its subsidiaries, operates in natural gas industry in the United States. Its EQT Production segment produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2017, this segment operated 21.4 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 4.0 million gross acres comprising approximately 1.1 million gross acres.
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