Fore Capital LLC Takes $1.33 Million Position in EQT Corporation $EQT

Fore Capital LLC acquired a new stake in shares of EQT Corporation (NYSE:EQT) in the second quarter, HoldingsChannel reports. The fund acquired 25,000 shares of the oil and gas producer’s stock, valued at approximately $1,329,000. EQT makes up about 0.4% of Fore Capital LLC’s investment portfolio, making the stock its 21st biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of EQT. Parallel Advisors LLC lifted its holdings in EQT by 1.0% in the fourth quarter. Parallel Advisors LLC now owns 19,075 shares of the oil and gas producer’s stock worth $1,022,000 after acquiring an additional 198 shares during the last quarter. Root Financial Partners LLC grew its holdings in shares of EQT by 35.4% during the first quarter. Root Financial Partners LLC now owns 773 shares of the oil and gas producer’s stock valued at $49,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC grew its holdings in shares of EQT by 0.5% during the fourth quarter. Rothschild Investment LLC now owns 46,582 shares of the oil and gas producer’s stock valued at $2,497,000 after purchasing an additional 215 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of EQT by 4.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 6,154 shares of the oil and gas producer’s stock worth $392,000 after purchasing an additional 236 shares during the period. Finally, Valeo Financial Advisors LLC raised its position in shares of EQT by 4.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 11,813 shares of the oil and gas producer’s stock worth $633,000 after purchasing an additional 456 shares during the period. Institutional investors and hedge funds own 90.81% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Toby Z. Rice sold 175,328 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $55.03, for a total transaction of $9,648,299.84. Following the completion of the transaction, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 274,042 shares of company stock worth $15,005,076 over the last ninety days. Company insiders own 0.72% of the company’s stock.

EQT Trading Up 0.3%

EQT stock opened at $53.18 on Wednesday. The firm has a 50 day simple moving average of $51.88 and a 200-day simple moving average of $56.51. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $33.27 billion, a PE ratio of 12.34 and a beta of 0.58. EQT Corporation has a 12-month low of $47.94 and a 12-month high of $68.24.

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

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 5th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, August 5th. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. EQT’s dividend payout ratio is 15.31%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EQT. JPMorgan Chase & Co. cut their price target on EQT from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Tuesday, June 23rd. Truist Financial dropped their target price on EQT from $74.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. BMO Capital Markets cut their target price on EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Jefferies Financial Group reduced their price target on shares of EQT from $77.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, Capital One Financial upped their price target on shares of EQT from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.48.

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.