New York State Common Retirement Fund Cuts Stake in EQT Co. (NYSE:EQT)

New York State Common Retirement Fund lowered its stake in EQT Co. (NYSE:EQT) by 24.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 441,268 shares of the oil and gas producer’s stock after selling 146,612 shares during the quarter. New York State Common Retirement Fund owned about 0.17% of EQT worth $9,152,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in EQT in the 1st quarter valued at about $29,000. Financial Architects Inc boosted its position in EQT by 55.1% in the 4th quarter. Financial Architects Inc now owns 2,131 shares of the oil and gas producer’s stock valued at $40,000 after buying an additional 757 shares during the period. JOYN Advisors Inc. boosted its position in EQT by 282.1% in the 4th quarter. JOYN Advisors Inc. now owns 3,546 shares of the oil and gas producer’s stock valued at $67,000 after buying an additional 2,618 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in EQT by 287.0% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 4,184 shares of the oil and gas producer’s stock valued at $79,000 after buying an additional 3,103 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in EQT by 3,355.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,989,646 shares of the oil and gas producer’s stock valued at $105,000 after buying an additional 1,932,069 shares during the period. Institutional investors and hedge funds own 95.85% of the company’s stock.

EQT stock traded up $1.38 during mid-day trading on Friday, reaching $15.81. 8,660,206 shares of the company traded hands, compared to its average volume of 4,235,943. The firm has a market capitalization of $3.97 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 1.18 and a beta of 0.74. EQT Co. has a fifty-two week low of $14.28 and a fifty-two week high of $31.28. The company has a fifty day moving average price of $18.09. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.39.

EQT (NYSE:EQT) last released its quarterly earnings data on Thursday, April 25th. The oil and gas producer reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.11. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.17 billion. EQT had a negative net margin of 10.17% and a positive return on equity of 4.51%. The business’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 earnings per share. Research analysts anticipate that EQT Co. will post 1.26 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Wednesday, May 15th were paid a $0.03 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.76%. EQT’s payout ratio is currently 7.06%.

Several equities research analysts have issued reports on the stock. Wells Fargo & Co raised shares of EQT from a “market perform” rating to an “outperform” rating and set a $32.00 price objective for the company in a research report on Monday, May 20th. TD Securities upped their price target on shares of EQT from $23.00 to $25.00 and gave the stock a “hold” rating in a research report on Monday, April 29th. Cowen began coverage on shares of EQT in a research report on Tuesday, April 9th. They issued a “market perform” rating and a $24.00 price target for the company. Macquarie began coverage on shares of EQT in a research report on Wednesday, May 29th. They issued a “neutral” rating and a $21.00 price target for the company. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $23.00 price target on shares of EQT in a research report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $34.38.

In other news, CEO Robert Joseph Mcnally purchased 13,572 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average price of $18.37 per share, for a total transaction of $249,317.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Erin R. Centofanti sold 2,970 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $16.03, for a total transaction of $47,609.10. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.

EQT Company Profile

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres.

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Institutional Ownership by Quarter for EQT (NYSE:EQT)

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