Oakmont Investment Advisors Inc. Invests $737,000 in EQT Corporation $EQT

Oakmont Investment Advisors Inc. purchased a new position in shares of EQT Corporation (NYSE:EQT) during the second quarter, Holdings Channel reports. The firm purchased 13,868 shares of the oil and gas producer’s stock, valued at approximately $737,000.

Other hedge funds also recently bought and sold shares of the company. Reaves W H & Co. Inc. grew its position in shares of EQT by 12.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock valued at $62,282,000 after purchasing an additional 132,741 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in EQT by 21.5% during the fourth quarter. Cullen Frost Bankers Inc. now owns 186,352 shares of the oil and gas producer’s stock worth $9,988,000 after buying an additional 32,921 shares during the last quarter. Allstate Corp boosted its stake in EQT by 114.0% during the fourth quarter. Allstate Corp now owns 48,523 shares of the oil and gas producer’s stock worth $2,601,000 after buying an additional 25,852 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of EQT in the 2nd quarter worth $163,705,000. Finally, Fielder Capital Group LLC purchased a new position in shares of EQT during the 2nd quarter worth $4,847,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Stock Performance

Shares of EQT stock opened at $55.11 on Friday. The firm’s 50 day moving average price is $52.67 and its 200-day moving average price is $56.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.67 and a current ratio of 0.67. EQT Corporation has a one year low of $47.94 and a one year high of $68.24. The firm has a market cap of $34.47 billion, a P/E ratio of 12.79 and a beta of 0.58.

EQT (NYSE:EQT) last posted its quarterly earnings data 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). The company had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The business’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.45 EPS. As a group, equities research analysts predict that EQT Corporation will post 3.96 EPS for the current year.

EQT Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EQT. Barclays dropped their price objective on shares of EQT from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Wall Street Zen cut EQT from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Morgan Stanley lowered their price objective on EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, August 19th. Zacks Research raised EQT from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 27th. Finally, Citigroup decreased their price target on EQT from $70.00 to $67.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.10.

Key Stories Impacting EQT

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Analysts at Zacks reportedly increased their earnings estimates for EQT Corporation, a potentially supportive signal for the stock if the revisions reflect improving natural-gas market expectations or company-specific fundamentals. Zacks Research Brokers Boost Earnings Estimates for EQT
• Neutral Sentiment: EQT AB agreed to acquire a majority stake in specialty insurance and reinsurance broker McGill and Partners from Warburg Pincus for approximately $2 billion. McGill’s founder and CEO Steve McGill will continue to lead the business, while existing management and employees will retain significant ownership. Because this is an EQT AB private-equity transaction—not a deal by EQT Corporation—it should not directly affect the NYSE-listed energy producer’s earnings, assets, or valuation. EQT to acquire McGill and Partners
• Neutral Sentiment: Additional coverage of the McGill transaction describes it as part of private equity’s broader expansion into insurance brokerage. The repeated headlines may create ticker-name confusion, but they provide no new catalyst for EQT Corporation. EQT strikes $2bn deal for insurance broker McGill
• Negative Sentiment: A separate report says EQT is considering a fund-to-fund transfer involving AIG Hospitals, another EQT AB portfolio company. This is also unrelated to EQT Corporation and is unlikely to explain movement in EQT shares. EQT planning fund-to-fund transfer for AIG Hospitals

Insider Activity

In related news, CEO Toby Rice sold 175,328 shares of the 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 transaction, the chief executive officer owned 2,157,865 shares of the company’s stock, valued at approximately $118,747,310.95. This represents a 7.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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.