Rhumbline Advisers raised its stake in shares of QEP Resources, Inc. (NYSE:QEP) by 8.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 460,608 shares of the pipeline company’s stock after acquiring an additional 37,825 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of QEP Resources worth $3,947,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of QEP. Marshall Wace North America L.P. lifted its position in QEP Resources by 213.8% in the 2nd quarter. Marshall Wace North America L.P. now owns 480,416 shares of the pipeline company’s stock valued at $4,804,000 after purchasing an additional 327,342 shares during the last quarter. Mitchell Group Inc. increased its stake in QEP Resources by 63.8% during the 2nd quarter. Mitchell Group Inc. now owns 1,870,290 shares of the pipeline company’s stock valued at $18,890,000 after buying an additional 728,590 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in QEP Resources by 18.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 114,013 shares of the pipeline company’s stock valued at $1,152,000 after buying an additional 17,642 shares during the period. Arizona State Retirement System increased its stake in QEP Resources by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 101,400 shares of the pipeline company’s stock valued at $1,024,000 after buying an additional 1,700 shares during the period. Finally, Voya Investment Management LLC increased its stake in QEP Resources by 8.5% during the 2nd quarter. Voya Investment Management LLC now owns 1,391,614 shares of the pipeline company’s stock valued at $14,055,000 after buying an additional 109,002 shares during the period. Hedge funds and other institutional investors own 93.12% of the company’s stock.
QEP has been the topic of several research analyst reports. Credit Suisse Group initiated coverage on shares of QEP Resources in a research note on Monday, December 11th. They set an “underperform” rating and a $9.00 target price on the stock. Zacks Investment Research cut shares of QEP Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Barclays raised their target price on shares of QEP Resources from $8.00 to $9.00 and gave the company an “overweight” rating in a research note on Wednesday, October 11th. ValuEngine cut shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, September 8th. Finally, BMO Capital Markets set a $11.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. QEP Resources currently has a consensus rating of “Hold” and an average price target of $13.76.
QEP Resources (NYSE:QEP) last posted its earnings results 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 analysts’ expectations of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.21) earnings per share. analysts anticipate that QEP Resources, Inc. will post -0.44 EPS for the current fiscal year.
QEP Resources Company 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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