Diamond Hill Capital Management LLC Investment Advisor Purchases Shares of 2,072,158 EQT Corporation $EQT

Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of EQT Corporation (NYSE:EQT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,072,158 shares of the oil and gas producer’s stock, valued at approximately $110,177,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp purchased a new stake in shares of EQT in the second quarter worth approximately $512,148,000. KTF Investments LLC purchased a new position in shares of EQT during the fourth quarter valued at approximately $8,885,000. Reaves W H & Co. Inc. grew its holdings in EQT by 12.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,161,975 shares of the oil and gas producer’s stock worth $62,282,000 after buying an additional 132,741 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in 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 buying an additional 106,545 shares in the last quarter. Finally, Fielder Capital Group LLC purchased a new stake in EQT in the 2nd quarter valued at $4,847,000. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at EQT

In other EQT news, CEO Toby Z. Rice sold 1,731 shares of EQT stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $53.46, for a total value of $92,539.26. Following the sale, the chief executive officer owned 2,333,193 shares of the company’s stock, valued at approximately $124,732,497.78. The trade was a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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.

Analyst Upgrades and Downgrades

EQT has been the topic of several recent analyst reports. Zacks Research cut EQT from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Jefferies Financial Group reduced their target price on shares of EQT from $77.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Freedom Capital upgraded shares of EQT to a “strong-buy” rating in a research note on Tuesday, June 30th. Morgan Stanley lowered their target price on shares of EQT from $74.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, June 26th. Finally, Capital One Financial raised their price target on shares of EQT from $64.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, EQT presently has an average rating of “Moderate Buy” and an average price target of $68.08.

EQT Stock Up 0.0%

Shares of NYSE:EQT opened at $54.44 on Monday. EQT Corporation has a 1 year low of $47.94 and a 1 year high of $68.24. The company has a market capitalization of $34.05 billion, a PE ratio of 12.63 and a beta of 0.58. The business has a fifty day moving average price of $51.87 and a two-hundred day moving average price of $56.54. 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 (NYSE:EQT) last released its earnings results on Tuesday, July 21st. The oil and gas producer reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.76 billion. EQT had a return on equity of 9.31% and a net margin of 28.44%.The company’s revenue for the quarter was down 29.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Analysts forecast that EQT Corporation will post 4.06 earnings per share for the current year.

EQT Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 5th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. EQT’s dividend payout ratio (DPR) is 15.31%.

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.