The Top 5 Stocks Billionaire David Tepper Was Buying in Q4

3. EQT Corporation (NYSE:EQT)

Value of Appaloosa Management‘s 13F Position: $107 million

Number of Hedge Fund Shareholders: 46

David Tepper’s hedge fund hiked its position in EQT Corporation (NYSE:EQT) by 71% during Q4, building a position containing 4.89 million shares that ranked as his 13th largest long position as of December 31.

One of the 10 Best LNG Stocks to Buy Now, EQT Corporation (NYSE:EQT) took several steps to improve its long-term trajectory during 2021. Among other things, the company improved its balance sheet, closed on its acquisition of Alta Resources, and instituted a shareholder return plan that includes a quarterly dividend and a $1 billion share buyback authorization. EQT delivered $1.41 billion in adjusted revenue during Q4 alongside $0.41 in adjusted earnings per share, both of which missed estimates by a fair amount.

With oil prices on the rise, natural gas players like EQT Corporation (NYSE:EQT) have fallen somewhat out of favor with investors. Overall hedge fund ownership of the integrated energy company fell by 18% during the quarter.