Boston Partners trimmed its position in shares of QEP Resources, Inc. (NYSE:QEP) by 95.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 490,742 shares of the pipeline company’s stock after selling 10,503,174 shares during the quarter. Boston Partners owned 0.20% of QEP Resources worth $4,206,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marshall Wace North America L.P. boosted its position in shares of QEP Resources by 213.8% during the second quarter. Marshall Wace North America L.P. now owns 480,416 shares of the pipeline company’s stock worth $4,804,000 after purchasing an additional 327,342 shares in the last quarter. Mitchell Group Inc. boosted its position in shares of QEP Resources by 63.8% during the second quarter. Mitchell Group Inc. now owns 1,870,290 shares of the pipeline company’s stock worth $18,890,000 after purchasing an additional 728,590 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of QEP Resources by 18.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 114,013 shares of the pipeline company’s stock worth $1,152,000 after purchasing an additional 17,642 shares in the last quarter. Arizona State Retirement System boosted its position in shares of QEP Resources by 1.7% during the second quarter. Arizona State Retirement System now owns 101,400 shares of the pipeline company’s stock worth $1,024,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of QEP Resources by 8.5% during the second quarter. Voya Investment Management LLC now owns 1,391,614 shares of the pipeline company’s stock worth $14,055,000 after purchasing an additional 109,002 shares in the last quarter. 89.49% of the stock is currently owned by institutional investors.
QEP Resources, Inc. (NYSE QEP) opened at $8.80 on Friday. QEP Resources, Inc. has a 52 week low of $7.02 and a 52 week high of $21.12. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.52.
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 Zacks’ consensus estimate of ($0.21) by $0.11. The firm had revenue of $390.10 million during the quarter, compared to the consensus estimate of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) EPS. sell-side analysts forecast that QEP Resources, Inc. will post -0.46 EPS for the current year.
Several equities research analysts recently commented on QEP shares. Barclays PLC cut shares of QEP Resources from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective on the stock. in a research report on Tuesday, November 7th. ValuEngine raised shares of 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 shares of QEP Resources and gave the company a “buy” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $12.00 price objective on shares of QEP Resources in a research report on Sunday, October 22nd. Finally, SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $9.00 price objective on shares of QEP Resources in a research report on Wednesday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. QEP Resources presently has an average rating of “Hold” and a consensus target price of $14.19.
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About QEP Resources
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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