Empirical Finance LLC Has $712,000 Stake in EQT Co. (NYSE:EQT)

Empirical Finance LLC grew its stake in EQT Co. (NYSE:EQT) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,440 shares of the oil and gas producer’s stock after purchasing an additional 821 shares during the period. Empirical Finance LLC’s holdings in EQT were worth $712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQT. CIBC Asset Management Inc grew its stake in shares of EQT by 45.9% during the third quarter. CIBC Asset Management Inc now owns 86,353 shares of the oil and gas producer’s stock worth $3,164,000 after buying an additional 27,147 shares during the last quarter. Metis Global Partners LLC grew its position in EQT by 36.7% during the 3rd quarter. Metis Global Partners LLC now owns 18,633 shares of the oil and gas producer’s stock worth $683,000 after acquiring an additional 5,007 shares during the last quarter. Huntington National Bank raised its position in EQT by 50.0% in the third quarter. Huntington National Bank now owns 3,041 shares of the oil and gas producer’s stock valued at $111,000 after purchasing an additional 1,013 shares during the last quarter. KBC Group NV boosted its stake in shares of EQT by 112.7% during the third quarter. KBC Group NV now owns 41,637 shares of the oil and gas producer’s stock valued at $1,526,000 after purchasing an additional 22,064 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new position in shares of EQT in the third quarter valued at approximately $384,000. 90.81% of the stock is owned by institutional investors.

EQT Stock Performance

NYSE EQT opened at $42.71 on Friday. The firm has a market cap of $25.48 billion, a P/E ratio of 50.85 and a beta of 1.06. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $36.91 and its 200-day moving average is $36.81. EQT Co. has a 12-month low of $30.02 and a 12-month high of $44.28.

EQT (NYSE:EQT) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas producer reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.35 billion. EQT had a return on equity of 3.74% and a net margin of 5.52%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.30 earnings per share. Sell-side analysts predict that EQT Co. will post 1.28 earnings per share for the current year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 6th will be given a $0.1575 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.48%. EQT’s dividend payout ratio (DPR) is currently 75.00%.

Analyst Ratings Changes

A number of research firms have weighed in on EQT. Citigroup raised shares of EQT from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $44.00 in a report on Thursday, October 3rd. Stephens increased their price target on EQT from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised EQT from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. Bank of America started coverage on EQT in a research note on Monday, October 28th. They set a “buy” rating and a $50.00 target price for the company. Finally, Morgan Stanley restated an “overweight” rating and set a $45.00 price target on shares of EQT in a report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.83.

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.