Payden & Rygel Has $7.13 Million Stock Holdings in EQT Co. (NYSE:EQT)

Payden & Rygel lowered its stake in EQT Co. (NYSE:EQT - Free Report) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 194,470 shares of the oil and gas producer's stock after selling 33,550 shares during the quarter. Payden & Rygel's holdings in EQT were worth $7,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. HM Payson & Co. bought a new position in shares of EQT in the 3rd quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in shares of EQT in the second quarter valued at approximately $28,000. Hexagon Capital Partners LLC lifted its position in EQT by 18,080.0% during the third quarter. Hexagon Capital Partners LLC now owns 909 shares of the oil and gas producer's stock worth $33,000 after purchasing an additional 904 shares during the period. Blue Trust Inc. boosted its position in shares of EQT by 149.5% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the oil and gas producer's stock worth $37,000 after acquiring an additional 598 shares in the last quarter. Finally, Wolff Wiese Magana LLC raised its position in EQT by 936.1% during the second quarter. Wolff Wiese Magana LLC now owns 1,005 shares of the oil and gas producer's stock valued at $37,000 after purchasing an additional 908 shares in the last quarter. Institutional investors and hedge funds own 90.81% of the company's stock.

EQT Stock Up 5.6 %

Shares of NYSE EQT opened at $46.53 on Thursday. The company's 50 day moving average price is $37.39 and its 200-day moving average price is $36.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.51. EQT Co. has a 52-week low of $30.02 and a 52-week high of $46.86. The company has a market capitalization of $27.76 billion, a P/E ratio of 55.39 and a beta of 1.06.

EQT (NYSE:EQT - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas producer reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. EQT had a net margin of 5.52% and a return on equity of 3.74%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the firm posted $0.30 EPS. The company's quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that EQT Co. will post 1.28 earnings per share for the current year.

EQT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 6th will be issued 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 1.35%. EQT's dividend payout ratio is presently 75.00%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EQT. UBS Group raised their price objective on EQT from $40.00 to $42.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Piper Sandler lifted their price target on shares of EQT from $32.00 to $34.00 and gave the company a "neutral" rating in a report on Monday, November 4th. BMO Capital Markets increased their price objective on shares of EQT from $39.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, October 4th. StockNews.com raised shares of EQT to a "sell" rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company upgraded EQT from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $40.00 to $42.00 in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $42.83.

EQT Company Profile

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.

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