Gamco Investors INC. ET AL Has $606,000 Stake in QEP Resources, Inc. (QEP)
Gamco Investors INC. ET AL continued to hold its position in shares of QEP Resources, Inc. (NYSE:QEP) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 60,000 shares of the pipeline company’s stock at the end of the second quarter. Gamco Investors INC. ET AL’s holdings in QEP Resources were worth $606,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in QEP. Elkfork Partners LLC increased its position in shares of QEP Resources by 4.4% in the first quarter. Elkfork Partners LLC now owns 27,710 shares of the pipeline company’s stock valued at $352,000 after buying an additional 1,156 shares during the period. Boston Partners increased its position in shares of QEP Resources by 47.8% in the first quarter. Boston Partners now owns 13,088,348 shares of the pipeline company’s stock valued at $166,353,000 after buying an additional 4,231,442 shares during the period. Flinton Capital Management LLC increased its position in shares of QEP Resources by 4.4% in the first quarter. Flinton Capital Management LLC now owns 13,040 shares of the pipeline company’s stock valued at $166,000 after buying an additional 544 shares during the period. State Treasurer State of Michigan increased its position in shares of QEP Resources by 0.9% in the first quarter. State Treasurer State of Michigan now owns 97,400 shares of the pipeline company’s stock valued at $1,238,000 after buying an additional 900 shares during the period. Finally, Wedge Capital Management L L P NC bought a new position in shares of QEP Resources during the first quarter valued at about $17,326,000. Institutional investors own 93.21% of the company’s stock.
QEP Resources, Inc. (QEP) opened at 7.34 on Wednesday. QEP Resources, Inc. has a 52-week low of $7.02 and a 52-week high of $21.12. The company’s market cap is $1.77 billion. The stock’s 50 day moving average is $8.23 and its 200-day moving average is $11.08.
QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.08. The business had revenue of $383.70 million for the quarter, compared to the consensus estimate of $413.27 million. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) EPS. Equities research analysts predict that QEP Resources, Inc. will post ($0.61) EPS for the current fiscal year.
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Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of QEP Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. 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 price target for the company. BMO Capital Markets reiterated a “buy” rating and set a $11.00 price target on shares of QEP Resources in a report on Tuesday, June 27th. Wolfe Research assumed coverage on shares of QEP Resources in a report on Thursday, June 15th. They set a “market perform” rating for the company. Finally, Deutsche Bank AG downgraded shares of QEP Resources from a “buy” rating to a “hold” rating and lowered their price target for the stock from $18.00 to $13.00 in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.53.
In other news, Director Julie Dill acquired 5,000 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were purchased at an average price 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 $46,907.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard J. Doleshek acquired 12,500 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was purchased at an average cost of $7.91 per share, for a total transaction of $98,875.00. Following 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. Insiders have acquired a total of 42,500 shares of company stock worth $321,325 in the last three months. Insiders own 1.36% of the company’s stock.
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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