Canyon Capital Advisors LLC Sells 494,388 Shares of EQT Co. (EQT)

Canyon Capital Advisors LLC lessened its holdings in shares of EQT Co. (NYSE:EQT) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,394,522 shares of the oil and gas producer’s stock after selling 494,388 shares during the quarter. EQT makes up 2.4% of Canyon Capital Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. Canyon Capital Advisors LLC’s holdings in EQT were worth $101,903,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vanguard Group Inc raised its stake in EQT by 2.5% during the third quarter. Vanguard Group Inc now owns 28,073,288 shares of the oil and gas producer’s stock worth $1,241,682,000 after buying an additional 687,779 shares during the last quarter. BlackRock Inc. raised its stake in EQT by 30.4% during the fourth quarter. BlackRock Inc. now owns 23,893,102 shares of the oil and gas producer’s stock worth $451,340,000 after buying an additional 5,573,274 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in EQT by 25.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 11,470,216 shares of the oil and gas producer’s stock worth $216,672,000 after buying an additional 2,358,301 shares during the last quarter. Share Andrew L. raised its stake in EQT by 13.6% during the fourth quarter. Share Andrew L. now owns 5,676,000 shares of the oil and gas producer’s stock worth $107,220,000 after buying an additional 680,000 shares during the last quarter. Finally, Sound Shore Management Inc. CT raised its stake in EQT by 38.9% during the fourth quarter. Sound Shore Management Inc. CT now owns 5,652,090 shares of the oil and gas producer’s stock worth $106,768,000 after buying an additional 1,581,641 shares during the last quarter. Institutional investors own 96.49% of the company’s stock.

EQT opened at $20.26 on Friday. EQT Co. has a 1-year low of $16.29 and a 1-year high of $31.28. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 1.63 and a beta of 0.68.

EQT (NYSE:EQT) last posted its quarterly earnings results on Thursday, February 14th. The oil and gas producer reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.02). EQT had a negative net margin of 45.88% and a positive return on equity of 4.46%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the firm posted $0.76 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, equities analysts predict that EQT Co. will post 1.28 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 15th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, February 14th. EQT’s dividend payout ratio (DPR) is currently 7.06%.

A number of equities analysts recently weighed in on the stock. Credit Suisse Group reissued a “buy” rating and set a $24.00 target price on shares of EQT in a research note on Tuesday, January 22nd. Jefferies Financial Group reissued a “hold” rating and set a $21.00 target price on shares of EQT in a research note on Tuesday, January 29th. Morgan Stanley set a $10.00 target price on shares of EQT and gave the stock a “sell” rating in a research note on Tuesday, January 29th. TD Securities lifted their target price on shares of EQT from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, February 20th. Finally, Royal Bank of Canada downgraded shares of EQT from an “outperform” rating to a “sector perform” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. EQT presently has an average rating of “Hold” and a consensus price target of $38.43.

In other EQT news, CEO Robert Joseph Mcnally bought 1,496 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was bought at an average cost of $19.10 per share, with a total value of $28,573.60. Following the completion of the transaction, the chief executive officer now directly owns 180,245 shares in the company, valued at approximately $3,442,679.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jimmi Sue Smith bought 6,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $19.79 per share, with a total value of $118,740.00. Following the completion of the transaction, the chief financial officer now owns 34,287 shares of the company’s stock, valued at $678,539.73. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 44,670 shares of company stock valued at $859,408. Insiders own 0.68% of the company’s stock.

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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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