Bank of Montreal Can cut its position in shares of QEP Resources, Inc. (NYSE:QEP) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 208,279 shares of the pipeline company’s stock after selling 3,472 shares during the period. Bank of Montreal Can’s holdings in QEP Resources were worth $2,103,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of QEP. BlackRock Inc. increased its stake in QEP Resources by 12,055.6% in the first quarter. BlackRock Inc. now owns 19,952,610 shares of the pipeline company’s stock worth $253,598,000 after buying an additional 19,788,467 shares during the period. Boston Partners increased its stake in QEP Resources by 47.8% in the first quarter. Boston Partners now owns 13,088,348 shares of the pipeline company’s stock worth $166,353,000 after buying an additional 4,231,442 shares during the period. Wellington Management Group LLP increased its stake in QEP Resources by 10.0% in the first quarter. Wellington Management Group LLP now owns 22,993,414 shares of the pipeline company’s stock worth $292,247,000 after buying an additional 2,097,855 shares during the period. Caymus Capital Partners L.P. increased its stake in QEP Resources by 45.4% in the first quarter. Caymus Capital Partners L.P. now owns 6,710,600 shares of the pipeline company’s stock worth $85,292,000 after buying an additional 2,096,200 shares during the period. Finally, Alliancebernstein L.P. increased its stake in QEP Resources by 29.0% in the first quarter. Alliancebernstein L.P. now owns 7,646,319 shares of the pipeline company’s stock worth $97,185,000 after buying an additional 1,719,460 shares during the period. Institutional investors own 91.76% of the company’s stock.

QEP Resources, Inc. (NYSE QEP) traded up 0.83% during trading on Friday, reaching $7.30. 2,961,322 shares of the company’s stock were exchanged. The firm’s market cap is $1.76 billion. The firm’s 50-day moving average price is $8.90 and its 200-day moving average price is $11.82. QEP Resources, Inc. has a 12 month low of $7.14 and a 12 month high of $21.12.

QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.08. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The firm had revenue of $383.70 million during the quarter, compared to analyst estimates of $413.27 million. During the same period last year, the firm posted ($0.23) EPS. The business’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts anticipate that QEP Resources, Inc. will post ($0.62) EPS for the current year.

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A number of equities analysts recently weighed in on the stock. Deutsche Bank AG downgraded shares of QEP Resources from a “buy” rating to a “hold” rating and lowered their target price for the stock from $18.00 to $13.00 in a report on Tuesday, July 18th. Barclays PLC restated a “buy” rating and set a $10.00 target price on shares of QEP Resources in a report on Friday, July 7th. KLR Group boosted their target price on shares of QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Credit Suisse Group assumed coverage on shares of QEP Resources in a report on Thursday, June 1st. They set a “neutral” rating and a $15.00 target price on the stock. Finally, Wolfe Research assumed coverage on shares of QEP Resources in a report on Thursday, June 15th. They set a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. QEP Resources presently has a consensus rating of “Hold” and a consensus price target of $16.53.

In other QEP Resources news, Director Julie Dill bought 5,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was purchased at an average cost of $8.49 per share, with a total value of $42,450.00. Following the transaction, the director now directly owns 5,525 shares in the company, valued at approximately $46,907.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Richard J. Doleshek bought 12,500 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were acquired at an average cost of $7.91 per share, with a total value of $98,875.00. Following the completion of the transaction, the chief financial officer now owns 304,539 shares in the company, valued at $2,408,903.49. The disclosure for this purchase can be found here. Company insiders own 1.36% of the company’s stock.

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

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