BlueCrest Capital Management Ltd purchased a new stake in shares of QEP Resources, Inc. (NYSE:QEP) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 95,308 shares of the pipeline company’s stock, valued at approximately $963,000.
Other large investors also recently made changes to their positions in the company. Marshall Wace North America L.P. lifted its position in shares of QEP Resources by 213.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 480,416 shares of the pipeline company’s stock valued at $4,804,000 after acquiring an additional 327,342 shares during the last quarter. Mitchell Group Inc. lifted its position in shares of QEP Resources by 63.8% during the 2nd quarter. Mitchell Group Inc. now owns 1,870,290 shares of the pipeline company’s stock valued at $18,890,000 after acquiring an additional 728,590 shares during the last quarter. Amalgamated Bank lifted its position in shares of QEP Resources by 3.9% during the 1st quarter. Amalgamated Bank now owns 35,909 shares of the pipeline company’s stock valued at $456,000 after acquiring an additional 1,355 shares during the last quarter. Arizona State Retirement System lifted its position in shares of QEP Resources by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 101,400 shares of the pipeline company’s stock valued at $1,024,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Paloma Partners Management Co lifted its position in shares of QEP Resources by 13.3% during the 1st quarter. Paloma Partners Management Co now owns 133,439 shares of the pipeline company’s stock valued at $1,696,000 after acquiring an additional 15,632 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.
Shares of QEP Resources, Inc. (QEP) opened at 8.91 on Friday. QEP Resources, Inc. has a 12-month low of $7.02 and a 12-month high of $21.12. The stock has a 50 day moving average price of $8.15 and a 200-day moving average price of $9.55. The stock’s market cap is $2.14 billion.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.08. The company had revenue of $383.70 million for the quarter, compared to analysts’ expectations of $413.27 million. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.23) earnings per share. Equities analysts anticipate that QEP Resources, Inc. will post ($0.59) EPS for the current fiscal year.
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QEP has been the subject of a number of recent research reports. Deutsche Bank AG downgraded QEP Resources from a “buy” rating to a “hold” rating and cut their price objective for the company from $18.00 to $13.00 in a research report on Tuesday, July 18th. ValuEngine upgraded QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. BMO Capital Markets set a $11.00 price objective on QEP Resources and gave the company a “buy” rating in a research report on Tuesday. Barclays PLC reiterated a “buy” rating and set a $10.00 price objective on shares of QEP Resources in a research report on Friday, July 7th. Finally, Piper Jaffray Companies cut their price objective on QEP Resources from $20.00 to $12.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. QEP Resources currently has an average rating of “Buy” and a consensus target price of $14.93.
In other news, Director Julie Dill purchased 5,000 shares of QEP Resources stock in a transaction dated Friday, July 28th. The shares were bought at an average cost of $8.49 per share, with a total value of $42,450.00. Following the completion of the transaction, the director now directly owns 5,525 shares in the company, valued at approximately $46,907.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David A. Trice purchased 25,000 shares of QEP Resources stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $7.20 per share, for a total transaction of $180,000.00. Following the completion of the transaction, the director now owns 40,000 shares of the company’s stock, valued at $288,000. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 42,500 shares of company stock worth $321,325. Insiders own 1.36% of the company’s stock.
QEP Resources Profile
QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.
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