Cullen Frost Bankers Inc. Invests $110,000 in EQT Corporation $EQT

Cullen Frost Bankers Inc. bought a new position in EQT Corporation (NYSE:EQT) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 1,894 shares of the oil and gas producer’s stock, valued at approximately $110,000.

A number of other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in shares of EQT by 14.1% during the 1st quarter. Larson Financial Group LLC now owns 1,582 shares of the oil and gas producer’s stock worth $85,000 after purchasing an additional 196 shares during the period. Fidelis Capital Partners LLC boosted its stake in shares of EQT by 2.6% during the 1st quarter. Fidelis Capital Partners LLC now owns 8,281 shares of the oil and gas producer’s stock worth $416,000 after purchasing an additional 207 shares during the period. Bartlett & CO. Wealth Management LLC boosted its stake in shares of EQT by 3.9% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 5,783 shares of the oil and gas producer’s stock worth $309,000 after purchasing an additional 219 shares during the period. Harbour Investments Inc. boosted its stake in shares of EQT by 48.4% during the 1st quarter. Harbour Investments Inc. now owns 693 shares of the oil and gas producer’s stock worth $37,000 after purchasing an additional 226 shares during the period. Finally, Lewis Asset Management LLC boosted its stake in shares of EQT by 1.2% during the 1st quarter. Lewis Asset Management LLC now owns 20,585 shares of the oil and gas producer’s stock worth $1,100,000 after purchasing an additional 248 shares during the period. 90.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at EQT

In related news, Director Vicky A. Bailey sold 4,259 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $51.56, for a total transaction of $219,594.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of EQT from $68.00 to $66.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Melius assumed coverage on shares of EQT in a research report on Wednesday, August 20th. They issued a “buy” rating and a $64.00 price objective for the company. Barclays lowered their price objective on shares of EQT from $68.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, October 7th. Bank of America boosted their price objective on shares of EQT from $63.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 22nd. Finally, Roth Capital cut shares of EQT from a “strong-buy” rating to a “neutral” rating and lowered their price objective for the company from $75.00 to $57.00 in a research report on Monday, August 18th. Eighteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, EQT presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.52.

EQT Trading Up 0.2%

Shares of EQT stock opened at $53.68 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.71 and a debt-to-equity ratio of 0.29. EQT Corporation has a 12-month low of $35.44 and a 12-month high of $61.02. The firm has a market capitalization of $33.50 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 0.46 and a beta of 0.50. The firm’s 50 day simple moving average is $52.77 and its two-hundred day simple moving average is $53.73.

EQT (NYSE:EQT) last issued its quarterly earnings results on Tuesday, October 21st. The oil and gas producer reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.78 billion. EQT had a net margin of 22.59% and a return on equity of 6.88%. EQT’s revenue for the quarter was up 52.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 EPS. Analysts predict that EQT Corporation will post 3.27 EPS for the current year.

EQT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 5th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, November 5th. This is an increase from EQT’s previous quarterly dividend of $0.16. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.2%. EQT’s dividend payout ratio (DPR) is currently 21.58%.

EQT 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.