Palogic Value Management L.P. Acquires 9,433 Shares of EQT Corporation $EQT

Palogic Value Management L.P. boosted its holdings in shares of EQT Corporation (NYSE:EQT) by 96.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,198 shares of the oil and gas producer’s stock after buying an additional 9,433 shares during the quarter. Palogic Value Management L.P.’s holdings in EQT were worth $1,021,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Caxton Associates LLP purchased a new position in shares of EQT in the 1st quarter worth approximately $256,000. Focus Partners Wealth lifted its position in EQT by 9.0% during the first quarter. Focus Partners Wealth now owns 21,637 shares of the oil and gas producer’s stock valued at $1,156,000 after acquiring an additional 1,789 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in EQT by 495.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock valued at $7,468,000 after acquiring an additional 106,545 shares in the last quarter. Captrust Financial Advisors grew its holdings in EQT by 39.4% in the second quarter. Captrust Financial Advisors now owns 30,617 shares of the oil and gas producer’s stock worth $1,786,000 after purchasing an additional 8,658 shares during the last quarter. Finally, Horizon Investments LLC grew its holdings in EQT by 43.6% in the third quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock worth $4,640,000 after purchasing an additional 25,971 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT opened at $54.61 on Thursday. The firm has a market capitalization of $34.16 billion, a PE ratio of 12.67 and a beta of 0.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.67 and a quick ratio of 0.67. EQT Corporation has a 1-year low of $47.94 and a 1-year high of $68.24. The company’s fifty day moving average price is $52.82 and its 200-day moving average price is $56.26.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter last year, the business earned $0.45 EPS. The business’s revenue was down 29.2% on a year-over-year basis. On average, equities research analysts predict that EQT Corporation will post 3.96 EPS for the current year.

EQT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th were issued a dividend of $0.165 per share. 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 15.31%.

Insider Activity at EQT

In related news, CEO Toby Rice sold 175,328 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $55.03, for a total value of $9,648,299.84. Following the sale, the chief executive officer owned 2,157,865 shares in the company, valued at $118,747,310.95. This represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EQT has been the subject of several analyst reports. Zacks Research upgraded EQT from a “strong sell” rating to a “hold” rating in a report on Thursday, August 27th. Truist Financial reduced 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. Freedom Capital upgraded EQT to a “strong-buy” rating in a research note on Tuesday, June 30th. Weiss Ratings downgraded EQT from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus set a $66.00 price target on EQT in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.00.

About EQT

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company primarily develops and operates unconventional oil and gas properties in the Appalachian Basin, with a focus on natural gas production from the Marcellus and Utica shale formations.

EQT’s products include natural gas, natural gas liquids and condensate. Its operations span drilling, well completion, production and related gathering activities, supporting the delivery of energy to utilities, industrial customers, marketers and other buyers.