MetLife Investment Advisors LLC purchased a new position in shares of Qep Resources (NYSE:QEP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 152,442 shares of the pipeline company’s stock, valued at approximately $1,459,000.
Several other institutional investors have also recently added to or reduced their stakes in the business. Alliancebernstein L.P. boosted its stake in shares of Qep Resources by 4.9% during the 4th quarter. Alliancebernstein L.P. now owns 10,177,149 shares of the pipeline company’s stock worth $97,395,000 after purchasing an additional 472,446 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Qep Resources by 47.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock worth $57,549,000 after purchasing an additional 2,166,476 shares during the last quarter. Talara Capital Management LLC boosted its stake in shares of Qep Resources by 13.6% during the 4th quarter. Talara Capital Management LLC now owns 2,841,015 shares of the pipeline company’s stock worth $27,189,000 after purchasing an additional 341,015 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Qep Resources by 0.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,702,500 shares of the pipeline company’s stock worth $25,863,000 after purchasing an additional 7,500 shares during the last quarter. Finally, Oslo Asset Management AS boosted its stake in shares of Qep Resources by 123.0% during the 4th quarter. Oslo Asset Management AS now owns 2,612,900 shares of the pipeline company’s stock worth $25,005,000 after purchasing an additional 1,441,200 shares during the last quarter. 93.95% of the stock is currently owned by institutional investors.
In related news, Director David A. Trice bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The shares were acquired at an average cost of $9.00 per share, with a total value of $90,000.00. Following the completion of the transaction, the director now owns 50,000 shares of the company’s stock, valued at $450,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.36% of the stock is currently owned by company insiders.
QEP opened at $9.79 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.28 and a current ratio of 0.29. Qep Resources has a 1 year low of $7.02 and a 1 year high of $12.90. The company has a market capitalization of $2,428.97, a P/E ratio of 12.71 and a beta of 1.53.
Qep Resources (NYSE:QEP) last released its earnings results on Wednesday, February 28th. The pipeline company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $1.20. Qep Resources had a net margin of 16.59% and a return on equity of 5.06%. The business had revenue of $429.00 million for the quarter, compared to analysts’ expectations of $392.01 million. During the same period last year, the company earned ($0.15) earnings per share. The company’s quarterly revenue was up 7.3% on a year-over-year basis. equities research analysts anticipate that Qep Resources will post -0.65 EPS for the current year.
Qep Resources declared that its board has approved a stock buyback plan on Wednesday, February 28th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the pipeline company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several equities research analysts have issued reports on QEP shares. Credit Suisse Group started coverage on shares of Qep Resources in a research note on Monday, December 11th. They set an “underperform” rating and a $9.00 price target on the stock. Zacks Investment Research raised shares of Qep Resources from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Tuesday, December 26th. Piper Jaffray reaffirmed a “buy” rating and set a $14.00 price target on shares of Qep Resources in a research note on Tuesday, January 9th. Mizuho set a $15.00 price target on shares of Qep Resources and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, Deutsche Bank started coverage on shares of Qep Resources in a research note on Thursday, February 1st. They set a “hold” rating and a $11.00 price target on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.10.
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Qep Resources Profile
QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.
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