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

Fore Capital LLC bought a new stake in shares of EQT Corporation (NYSE:EQT) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 25,000 shares of the oil and gas producer’s stock, valued at approximately $1,329,000. EQT accounts for 0.4% of Fore Capital LLC’s holdings, making the stock its 21st biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caxton Associates LLP purchased a new position in EQT in the 1st quarter worth approximately $256,000. Focus Partners Wealth raised its stake in shares of 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 purchasing an additional 1,789 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of EQT by 495.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 128,060 shares of the oil and gas producer’s stock worth $7,468,000 after purchasing an additional 106,545 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of EQT by 39.4% during 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 in the last quarter. Finally, Horizon Investments LLC boosted its stake in shares of EQT by 43.6% in the third quarter. Horizon Investments LLC now owns 85,502 shares of the oil and gas producer’s stock valued at $4,640,000 after purchasing an additional 25,971 shares during the period. 90.81% of the stock is owned by institutional investors and hedge funds.

EQT Price Performance

EQT opened at $53.18 on Wednesday. The company has a market capitalization of $33.27 billion, a P/E ratio of 12.34 and a beta of 0.58. The company has a 50-day moving average of $51.88 and a 200-day moving average of $56.51. 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 1-year low of $47.94 and a 1-year high of $68.24.

EQT (NYSE:EQT) last issued its quarterly 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). EQT had a return on equity of 9.31% and a net margin of 28.44%.The company had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. During the same period in the previous year, the business posted $0.45 EPS. The business’s revenue for the quarter was down 29.2% on a year-over-year basis. Equities analysts expect that EQT Corporation will post 4.06 EPS for the current fiscal year.

EQT Announces Dividend

The company also recently declared 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. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 5th. EQT’s payout ratio is 15.31%.

Insider Buying and Selling at EQT

In related news, CEO Toby Z. 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 transaction of $9,648,299.84. Following the sale, the chief executive officer directly 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 SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 274,042 shares of company stock valued at $15,005,076. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EQT has been the subject of a number of analyst reports. Wells Fargo & Company upped their price objective on shares of EQT from $70.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Weiss Ratings lowered EQT from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, July 30th. UBS Group cut their price target on EQT from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lowered their price objective on EQT from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Tuesday, June 23rd. Finally, Zacks Research downgraded EQT from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, EQT has an average 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.