ProShare Advisors LLC Sells 24,809 Shares of EQT Corporation $EQT

ProShare Advisors LLC cut its stake in EQT Corporation (NYSE:EQT) by 18.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 109,452 shares of the oil and gas producer’s stock after selling 24,809 shares during the period. ProShare Advisors LLC’s holdings in EQT were worth $5,315,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of EQT. Meeder Asset Management Inc. acquired a new position in EQT during the second quarter worth approximately $26,000. Community Bank N.A. boosted its holdings in shares of EQT by 198.9% in the 2nd quarter. Community Bank N.A. now owns 523 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 348 shares during the last quarter. Anchor Investment Management LLC boosted its holdings in shares of EQT by 76.0% in the 2nd quarter. Anchor Investment Management LLC now owns 528 shares of the oil and gas producer’s stock valued at $28,000 after purchasing an additional 228 shares during the last quarter. Wedbush Fund Advisers LLC grew its stake in shares of EQT by 251.8% during the 2nd quarter. Wedbush Fund Advisers LLC now owns 577 shares of the oil and gas producer’s stock valued at $31,000 after buying an additional 413 shares during the period. Finally, Continuum Advisory LLC purchased a new stake in shares of EQT during the 2nd quarter valued at $32,000. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EQT. Barclays cut their target price on EQT from $70.00 to $68.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Freedom Broker lowered their price target on EQT from $81.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. UBS Group dropped their price target on EQT from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Tuesday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of EQT in a report on Wednesday, October 28th. Finally, Wells Fargo & Company cut their price objective on EQT from $79.00 to $71.00 and set an “overweight” rating on the stock in a report on Tuesday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insider Activity

In related news, CEO Toby 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 sale, the chief executive officer directly owned 2,157,865 shares in the company, valued at approximately $118,747,310.95. This trade represents a 7.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.72% of the company’s stock.

EQT Stock Down 3.0%

Shares of EQT stock opened at $52.62 on Thursday. The company has a fifty day moving average price of $53.20 and a 200 day moving average price of $55.54. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.19. EQT Corporation has a twelve month low of $47.94 and a twelve month high of $68.24. The stock has a market cap of $32.92 billion, a price-to-earnings ratio of 13.43 and a beta of 0.68.

EQT (NYSE:EQT) last released its quarterly earnings data on Tuesday, October 27th. The oil and gas producer reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. EQT had a return on equity of 8.89% and a net margin of 28.40%. The firm’s revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. Equities research analysts forecast that EQT Corporation will post 3.86 earnings per share for the current fiscal year.

EQT Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Wednesday, November 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from EQT’s previous quarterly dividend of $0.1650. The ex-dividend date is Wednesday, November 4th. EQT’s payout ratio is 15.64%.

EQT Company Profile

EQT Corporation is a natural gas exploration and production company headquartered in Pittsburgh, Pennsylvania. The company develops and operates unconventional oil and gas properties, with a primary focus on natural gas and natural gas liquids produced from shale formations.

EQT’s operations are concentrated in the Appalachian Basin, particularly the Marcellus and Utica shale formations in Pennsylvania, West Virginia and Ohio. Its activities include drilling, completion, production and management of natural gas wells, along with related gathering and infrastructure operations that support the transportation of its products to market.

The company traces its roots to Equitable Gas, founded in 1878, and has evolved through multiple stages of expansion and restructuring in the U.S.