Renaissance Technologies LLC Has $8.36 Million Holdings in Qep Resources (QEP)

Renaissance Technologies LLC decreased its position in Qep Resources (NYSE:QEP) by 63.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 873,100 shares of the pipeline company’s stock after selling 1,491,800 shares during the quarter. Renaissance Technologies LLC owned about 0.36% of Qep Resources worth $8,356,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Qep Resources in the fourth quarter valued at $100,000. Savant Capital LLC acquired a new stake in shares of Qep Resources in the fourth quarter valued at $108,000. State of Alaska Department of Revenue acquired a new stake in shares of Qep Resources in the fourth quarter valued at $178,000. Oakbrook Investments LLC acquired a new stake in shares of Qep Resources in the fourth quarter valued at $194,000. Finally, US Bancorp DE lifted its holdings in shares of Qep Resources by 73.5% in the fourth quarter. US Bancorp DE now owns 24,140 shares of the pipeline company’s stock valued at $230,000 after buying an additional 10,223 shares during the period. Institutional investors and hedge funds own 93.95% of the company’s stock.

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Several analysts have recently weighed in on the company. ValuEngine lowered Qep Resources from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Johnson Rice assumed coverage on Qep Resources in a report on Wednesday, March 21st. They issued a “buy” rating and a $19.00 price objective for the company. TheStreet upgraded Qep Resources from a “d” rating to a “c-” rating in a report on Tuesday, March 13th. Piper Jaffray set a $13.00 price objective on Qep Resources and gave the company a “buy” rating in a report on Wednesday, March 14th. Finally, B. Riley set a $10.00 price objective on Qep Resources and gave the company a “hold” rating in a report on Friday, March 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $13.10.

In related news, Director David A. Trice bought 10,000 shares of Qep Resources stock in a transaction dated Thursday, March 8th. The stock was acquired at an average cost of $9.00 per share, with a total value of $90,000.00. Following the completion of the acquisition, the director now directly owns 50,000 shares in the company, valued at approximately $450,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.36% of the company’s stock.

Shares of NYSE QEP opened at $9.79 on Monday. Qep Resources has a 12 month low of $7.02 and a 12 month high of $12.90. The firm has a market cap of $2,359.09, a PE ratio of 12.71 and a beta of 1.53. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.29 and a quick ratio of 0.28.

Qep Resources (NYSE:QEP) last announced its earnings results on Wednesday, February 28th. The pipeline company reported $1.13 EPS for the quarter, beating the consensus estimate of ($0.07) by $1.20. Qep Resources had a return on equity of 5.06% and a net margin of 16.59%. The business had revenue of $429.00 million during the quarter, compared to the consensus estimate of $392.01 million. During the same period in the prior year, the business posted ($0.15) earnings per share. Qep Resources’s revenue was up 7.3% compared to the same quarter last year. research analysts anticipate that Qep Resources will post -0.65 earnings per share for the current fiscal year.

Qep Resources declared that its board has authorized a stock repurchase plan on Wednesday, February 28th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the pipeline company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

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

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