Allstate Corp Grows Position in EQT Corporation $EQT

Allstate Corp grew its stake in shares of EQT Corporation (NYSE:EQT) by 114.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,523 shares of the oil and gas producer’s stock after buying an additional 25,852 shares during the period. Allstate Corp’s holdings in EQT were worth $2,601,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Westpac Banking Corp increased its position in EQT by 6.6% during the third quarter. Westpac Banking Corp now owns 2,671 shares of the oil and gas producer’s stock worth $145,000 after buying an additional 165 shares in the last quarter. Fortitude Family Office LLC grew its position in shares of EQT by 95.6% in the fourth quarter. Fortitude Family Office LLC now owns 573 shares of the oil and gas producer’s stock valued at $31,000 after purchasing an additional 280 shares during the period. Valeo Financial Advisors LLC grew its position in shares of EQT by 4.0% in the fourth quarter. Valeo Financial Advisors LLC now owns 11,813 shares of the oil and gas producer’s stock valued at $633,000 after purchasing an additional 456 shares during the period. Aventura Private Wealth LLC purchased a new stake in shares of EQT in the fourth quarter valued at $31,000. Finally, LRI Investments LLC grew its position in shares of EQT by 32.7% in the third quarter. LRI Investments LLC now owns 2,713 shares of the oil and gas producer’s stock valued at $148,000 after purchasing an additional 669 shares during the period. Hedge funds and other institutional investors own 90.81% of the company’s stock.

EQT Price Performance

Shares of NYSE EQT opened at $55.17 on Thursday. EQT Corporation has a 1-year low of $48.47 and a 1-year high of $68.24. The business has a 50-day moving average of $59.66 and a 200-day moving average of $57.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $34.51 billion, a price-to-earnings ratio of 10.47 and a beta of 0.59.

EQT (NYSE:EQT) last issued its earnings results on Tuesday, April 21st. The oil and gas producer reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.32. EQT had a return on equity of 9.74% and a net margin of 31.94%.The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the business earned $1.18 earnings per share. On average, equities analysts anticipate that EQT Corporation will post 4.63 EPS for the current fiscal year.

EQT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Wednesday, May 6th will be given a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $0.66 annualized dividend and a dividend yield of 1.2%. EQT’s dividend payout ratio is presently 12.52%.

Analysts Set New Price Targets

EQT has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price objective on EQT from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. Wolfe Research lifted their price objective on EQT from $64.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. The Goldman Sachs Group lowered their price objective on EQT from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Weiss Ratings downgraded EQT from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 19th. Finally, Evercore boosted their price target on EQT from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $68.83.

Insider Transactions at EQT

In other news, Director Vicky A. Bailey sold 4,116 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $59.80, for a total value of $246,136.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lesley Evancho sold 20,000 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $60.69, for a total value of $1,213,800.00. Following the completion of the sale, the insider directly owned 184,607 shares of the company’s stock, valued at $11,203,798.83. The trade was a 9.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,992 shares of company stock valued at $1,774,390 over the last quarter. Company insiders own 0.72% of the company’s stock.

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.