Oakmont Investment Advisors Inc. Invests $737,000 in EQT Corporation $EQT

Oakmont Investment Advisors Inc. bought a new stake in shares of EQT Corporation (NYSE:EQT) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,868 shares of the oil and gas producer’s stock, valued at approximately $737,000.

Several other large investors have also recently made changes to their positions in the company. Syon Capital LLC boosted its holdings in EQT by 88.7% during the second quarter. Syon Capital LLC now owns 11,725 shares of the oil and gas producer’s stock worth $623,000 after buying an additional 5,513 shares in the last quarter. denkapparat Operations GmbH purchased a new position in EQT in the second quarter valued at $753,000. TD Waterhouse Canada Inc. increased its holdings in EQT by 27.9% in the second quarter. TD Waterhouse Canada Inc. now owns 75,267 shares of the oil and gas producer’s stock valued at $3,951,000 after buying an additional 16,400 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of EQT by 15.6% in the second quarter. Concurrent Investment Advisors LLC now owns 10,334 shares of the oil and gas producer’s stock worth $549,000 after acquiring an additional 1,393 shares during the period. Finally, NEOS Investment Management LLC raised its position in shares of EQT by 14.8% in the second quarter. NEOS Investment Management LLC now owns 102,572 shares of the oil and gas producer’s stock worth $5,454,000 after acquiring an additional 13,201 shares during the period. 90.81% of the stock is currently owned by institutional investors and hedge funds.

EQT News Summary

Here are the key news stories impacting EQT this week:

• Positive Sentiment: Analysts at Zacks reportedly increased their earnings estimates for EQT Corporation, a potentially supportive signal for the stock if the revisions reflect improving natural-gas market expectations or company-specific fundamentals. Zacks Research Brokers Boost Earnings Estimates for EQT
• Neutral Sentiment: EQT AB agreed to acquire a majority stake in specialty insurance and reinsurance broker McGill and Partners from Warburg Pincus for approximately $2 billion. McGill’s founder and CEO Steve McGill will continue to lead the business, while existing management and employees will retain significant ownership. Because this is an EQT AB private-equity transaction—not a deal by EQT Corporation—it should not directly affect the NYSE-listed energy producer’s earnings, assets, or valuation. EQT to acquire McGill and Partners
• Neutral Sentiment: Additional coverage of the McGill transaction describes it as part of private equity’s broader expansion into insurance brokerage. The repeated headlines may create ticker-name confusion, but they provide no new catalyst for EQT Corporation. EQT strikes $2bn deal for insurance broker McGill
• Negative Sentiment: A separate report says EQT is considering a fund-to-fund transfer involving AIG Hospitals, another EQT AB portfolio company. This is also unrelated to EQT Corporation and is unlikely to explain movement in EQT shares. EQT planning fund-to-fund transfer for AIG Hospitals

EQT Stock Down 0.9%

EQT stock opened at $55.11 on Friday. The stock has a market capitalization of $34.47 billion, a P/E ratio of 12.79 and a beta of 0.58. The firm has a 50-day simple moving average of $52.67 and a 200-day simple moving average of $56.35. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.19. EQT Corporation has a 52 week low of $47.94 and a 52 week 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). EQT had a net margin of 28.44% and a return on equity of 9.31%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the prior year, the business posted $0.45 earnings per share. The company’s quarterly revenue was down 29.2% compared to the same quarter last year. Equities analysts forecast that EQT Corporation will post 3.96 earnings per share for the current fiscal year.

EQT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders 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 dividend payout ratio is presently 15.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on EQT shares. BMO Capital Markets dropped their target price on EQT from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Stephens upped their price target on EQT from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. The Goldman Sachs Group lowered their price target on EQT from $65.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Morgan Stanley dropped their price objective on EQT from $68.00 to $67.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Finally, Truist Financial cut their price objective on EQT from $74.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, EQT currently has an average rating of “Moderate Buy” and an average price target of $68.10.

Insider Buying and Selling at EQT

In other news, CEO Toby Rice sold 175,328 shares of EQT 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 directly owned 2,157,865 shares of the company’s stock, valued at $118,747,310.95. The trade was a 7.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.72% of the stock is currently owned by company insiders.

About EQT

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.