Castleark Management LLC Acquires 294,000 Shares of EQT Co. (NYSE:EQT)

Castleark Management LLC grew its stake in shares of EQT Co. (NYSE:EQT) by 752.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 333,050 shares of the oil and gas producer’s stock after acquiring an additional 294,000 shares during the quarter. Castleark Management LLC’s holdings in EQT were worth $15,357,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its stake in EQT by 44.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock valued at $2,379,000 after buying an additional 16,416 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of EQT by 13.4% during the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock worth $298,000 after buying an additional 762 shares during the period. Segment Wealth Management LLC bought a new stake in shares of EQT during the fourth quarter worth approximately $1,735,000. Teacher Retirement System of Texas acquired a new position in EQT in the 4th quarter valued at $244,000. Finally, Nkcfo LLC bought a new position in EQT during the fourth quarter worth about $738,000. Institutional investors and hedge funds own 90.81% of the company’s stock.

EQT Price Performance

Shares of EQT stock opened at $56.09 on Wednesday. EQT Co. has a twelve month low of $30.02 and a twelve month high of $57.37. The company has a current ratio of 0.70, a quick ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $51.86 and a two-hundred day simple moving average of $49.09. The stock has a market capitalization of $33.58 billion, a price-to-earnings ratio of 140.23, a P/E/G ratio of 0.64 and a beta of 0.59.

EQT (NYSE:EQT) last issued its quarterly earnings data on Tuesday, April 22nd. The oil and gas producer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.20. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.16 billion. EQT had a net margin of 4.37% and a return on equity of 4.35%. On average, analysts predict that EQT Co. will post 3.27 EPS for the current fiscal year.

EQT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Wednesday, May 7th will be issued a dividend of $0.1575 per share. The ex-dividend date of this dividend is Wednesday, May 7th. This represents a $0.63 annualized dividend and a dividend yield of 1.12%. EQT’s dividend payout ratio (DPR) is currently 110.53%.

Wall Street Analyst Weigh In

EQT has been the topic of a number of recent analyst reports. The Goldman Sachs Group restated a “reduce” rating on shares of EQT in a research report on Wednesday, February 12th. Morgan Stanley boosted their target price on shares of EQT from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. TD Cowen upgraded shares of EQT from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company boosted their price objective on shares of EQT from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Finally, StockNews.com lowered EQT from a “hold” rating to a “sell” rating in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, EQT presently has an average rating of “Moderate Buy” and an average target price of $56.67.

About EQT

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.