Cubist Systematic Strategies LLC Increases Stake in QEP Resources, Inc. (QEP)

Cubist Systematic Strategies LLC boosted its position in shares of QEP Resources, Inc. (NYSE:QEP) by 991.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 126,874 shares of the pipeline company’s stock after acquiring an additional 115,245 shares during the quarter. Cubist Systematic Strategies LLC owned 0.05% of QEP Resources worth $1,087,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in QEP. Commerce Bank acquired a new stake in shares of QEP Resources during the 2nd quarter worth about $102,000. Suntrust Banks Inc. raised its position in shares of QEP Resources by 5.8% during the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after acquiring an additional 748 shares in the last quarter. Southport Management L.L.C. acquired a new stake in shares of QEP Resources during the 3rd quarter worth about $171,000. Bbva Compass Bancshares Inc. acquired a new stake in shares of QEP Resources during the 3rd quarter worth about $178,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of QEP Resources during the 3rd quarter worth about $179,000. Institutional investors own 93.14% of the company’s stock.

QEP has been the topic of several analyst reports. Stifel Nicolaus decreased their price target on QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, September 26th. Piper Jaffray Companies restated a “buy” rating and issued a $14.00 price target on shares of QEP Resources in a research note on Tuesday. Barclays decreased their target price on QEP Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 26th. KLR Group reiterated a “buy” rating and set a $14.00 target price (down from $15.00) on shares of QEP Resources in a research report on Wednesday, September 27th. Finally, Zacks Investment Research downgraded QEP Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.88.

QEP Resources, Inc. (QEP) traded up $0.41 during trading on Thursday, reaching $10.98. The company had a trading volume of 6,741,915 shares, compared to its average volume of 4,640,000. The firm has a market capitalization of $2,650.00, a price-to-earnings ratio of -183.00 and a beta of 1.73. QEP Resources, Inc. has a 52-week low of $7.02 and a 52-week high of $18.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.54.

QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.11. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The company had revenue of $390.10 million during the quarter, compared to the consensus estimate of $393.87 million. During the same quarter in the prior year, the business earned ($0.21) earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. equities research analysts forecast that QEP Resources, Inc. will post -0.44 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for QEP Resources (NYSE:QEP)

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