Dupont Capital Management Corp acquired a new stake in QEP Resources, Inc. (NYSE:QEP) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 32,678 shares of the pipeline company’s stock, valued at approximately $280,000.
Several other hedge funds also recently modified their holdings of the company. Bbva Compass Bancshares Inc. purchased a new position in shares of QEP Resources in the 3rd quarter valued at about $178,000. ARP Americas LLC purchased a new position in shares of QEP Resources in the 3rd quarter valued at about $195,000. Canada Pension Plan Investment Board increased its stake in shares of QEP Resources by 10.7% in the 3rd quarter. Canada Pension Plan Investment Board now owns 488,000 shares of the pipeline company’s stock valued at $4,182,000 after purchasing an additional 47,300 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in shares of QEP Resources in the 3rd quarter valued at about $179,000. Finally, Oslo Asset Management AS purchased a new position in shares of QEP Resources in the 3rd quarter valued at about $10,041,000. 89.49% of the stock is owned by institutional investors and hedge funds.
In related news, Director David A. Trice purchased 25,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $7.20 per share, for a total transaction of $180,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $288,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.36% of the stock is owned by corporate insiders.
Shares of QEP Resources, Inc. (NYSE:QEP) opened at $9.05 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. QEP Resources, Inc. has a 52-week low of $7.02 and a 52-week high of $21.12.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.11. The business had revenue of $390.10 million during the quarter, compared to analyst estimates of $393.87 million. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.21) earnings per share. sell-side analysts anticipate that QEP Resources, Inc. will post -0.46 EPS for the current fiscal year.
QEP has been the subject of several recent analyst reports. Deutsche Bank AG lowered QEP Resources from a “buy” rating to a “hold” rating and cut their price target for the company from $18.00 to $13.00 in a research note on Tuesday, July 18th. Cowen and Company set a $12.00 price target on QEP Resources and gave the company a “buy” rating in a research note on Wednesday, July 19th. BidaskClub lowered QEP Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. J P Morgan Chase & Co lowered QEP Resources from an “overweight” rating to a “neutral” rating and cut their price target for the company from $11.00 to $9.00 in a research note on Thursday, July 27th. Finally, National Securities initiated coverage on QEP Resources in a research note on Monday, July 31st. They issued a “buy” rating and a $11.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $14.19.
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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