Key Group Holdings Cayman Ltd Decreased Stake in Eqt Corp (NYSE:EQT) by $17.19 Million as Shares Declined

BY JASON FELD IN HEDGE FUND NEWS · From Wall Street. Org

Key Group Holdings Cayman Ltd decreased its stake in Eqt Corp (NYSE:EQT) by 28.23% based on its latest Q4 2015 regulatory filing with the SEC. Key Group Holdings Cayman Ltd sold 330,582 shares as the company’s stock declined 19.47% while stock markets rallied. The hedge fund held 840,460 shares of the oil & gas production company at the end of Q4, valued at $43.81 million, down from 1.17 million at the end of the previous reported quarter. Key Group Holdings Cayman Ltd who had been investing in Eqt Corp since many months, could be less bullish the $9.33B market cap company. The stock increased 3.52% or $2.01 on February 12, hitting $59.11. EQT Corporation (NYSE:EQT) has declined 22.78% since July 10, 2015 and is downtrending. It has underperformed by 12.58% the S&P500.

Key Group Holdings Cayman Ltd, which manages about $1.99 billion and $1.20B US Long portfolio, upped its stake in Pbf Energy Inc (NYSE:PBF) by 498,650 shares to 2.55 million shares, valued at $93.76 million in Q4, according to the filing. It also increased its holding in National Fuel Gas Co N J (NYSE:NFG) by 1.15 million shares in the quarter, for total 1.25 million shares, and risen its stake in Whiting Pete Corp New (NYSE:WLL).

Key Group Holdings Cayman Ltd is a Bahamas-based hedge fund with more than $1.99 billion AUM in March, 2014. Taken from Key Group Holdings Cayman latest Adv, the fund reported to have 11 full and part-time employees. Among which 10 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

The institutional sentiment increased to 1.17 in 2015 Q3. Its up 0.15, from 1.02 in 2015Q2. The ratio improved, as 53 funds sold all EQT shares owned while 137 reduced positions. 55 funds bought stakes while 168 increased positions. They now own 138.89 million shares or 9.56% more from 126.77 million shares in 2015Q2.

Mason Hill Advisors Llc holds 4.13% of its portfolio in EQT for 88,239 shares. Cambrian Capital Limited Partnership owns 88,418 shares or 3.53% of their US portfolio. Moreover, Arosa Capital Management Lp has 3.3% invested in the company for 352,230 shares. The California-based Quantum Capital Management has invested 2.88% in the stock. Waratah Capital Advisors Ltd., a Ontario – Canada-based fund reported 209,770 shares.

Since March 25, 2015, the stock had 1 insider purchase, and 0 selling transactions for $18,719 net activity. Cary A. Bray Jr. bought 289 shares worth $18,719. Crawford Randall L sold 87,000 shares worth $6.51M. Porges David L sold 37,494 shares worth $3.30M. Gardner Lewis B sold 2,874 shares worth $257,683. The insider Conti Philip P sold 20,504 shares worth $1.86M.

Out of 20 analysts covering EQT Corporation (NYSE:EQT), 17 rate it “Buy”, 0 “Sell”, while 4 “Hold”. This means 81% are positive. $90 is the highest target while $57 is the lowest. The $74.2 average target is 39.71% above today’s ($59.11) stock price. EQT Corporation was the topic in 24 analyst reports since July 21, 2015 according to StockzIntelligence Inc. GMP Securities initiated the stock on February 3 with “Buy” rating. Jefferies downgraded the shares of EQT in a report on January 12 to “Hold” rating.

EQT Corporation is an energy company. The company has a market cap of $9.33 billion. The Firm operates in two business divisions: EQT Production and EQT Midstream. It has 106.23 P/E ratio. EQT Production is a natural gas producer in the Appalachian Basin with approximately 10.7 trillion cubic feet equivalent (Tcfe) of proved natural gas, natural gas liquids (NGLs) and crude oil reserves across approximately 3.4 million acres, including around 630,000 gross acres in the Marcellus play.

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