Teachers Advisors LLC decreased its position in QEP Resources, Inc. (NYSE:QEP) by 67.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 280,012 shares of the pipeline company’s stock after selling 582,969 shares during the quarter. Teachers Advisors LLC owned approximately 0.12% of QEP Resources worth $2,828,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Riverhead Capital Management LLC increased its position in QEP Resources by 70.1% in the second quarter. Riverhead Capital Management LLC now owns 24,496 shares of the pipeline company’s stock worth $247,000 after buying an additional 10,096 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of QEP Resources by 9.8% during the second quarter. Alliancebernstein L.P. now owns 8,393,250 shares of the pipeline company’s stock worth $84,772,000 after purchasing an additional 746,931 shares in the last quarter. South Dakota Investment Council grew its position in shares of QEP Resources by 57.2% during the second quarter. South Dakota Investment Council now owns 168,700 shares of the pipeline company’s stock worth $1,704,000 after purchasing an additional 61,400 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of QEP Resources by 41.6% during the second quarter. Wells Fargo & Company MN now owns 2,089,589 shares of the pipeline company’s stock worth $21,106,000 after purchasing an additional 613,429 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new stake in shares of QEP Resources during the second quarter worth about $3,030,000. Institutional investors and hedge funds own 93.10% of the company’s stock.
Several research firms have weighed in on QEP. Barclays PLC raised their price objective on QEP Resources from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. Mizuho reissued a “hold” rating and set a $11.00 price target on shares of QEP Resources in a research note on Friday. Cowen and Company set a $12.00 price target on QEP Resources and gave the stock a “buy” rating in a research note on Wednesday, July 19th. National Securities began coverage on QEP Resources in a research note on Monday, July 31st. They set a “buy” rating and a $11.00 price target for the company. Finally, KLR Group reissued a “buy” rating and set a $14.00 price target (down from $15.00) on shares of QEP Resources in a research note on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $14.79.
In other news, Director David A. Trice purchased 25,000 shares of QEP Resources stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average price of $7.20 per share, for a total transaction of $180,000.00. Following the transaction, the director now owns 40,000 shares in the company, valued at $288,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.36% of the stock is currently owned by corporate insiders.
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QEP Resources, Inc. (NYSE QEP) opened at 8.61 on Friday. The firm’s market cap is $2.07 billion. The stock has a 50 day moving average price of $8.30 and a 200 day moving average price of $9.28. QEP Resources, Inc. has a one year low of $7.02 and a one year high of $21.12.
QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.11. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The business had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $393.87 million. During the same period last year, the firm posted ($0.21) earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Equities research analysts expect that QEP Resources, Inc. will post ($0.60) EPS for the current year.
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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