Menta Capital LLC Invests $286,000 in QEP Resources, Inc. (QEP)
Menta Capital LLC purchased a new stake in shares of QEP Resources, Inc. (NYSE:QEP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 28,290 shares of the pipeline company’s stock, valued at approximately $286,000.
Several other institutional investors also recently bought and sold shares of QEP. UBS Asset Management Americas Inc. lifted its holdings in shares of QEP Resources by 15.4% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 271,533 shares of the pipeline company’s stock valued at $2,742,000 after buying an additional 36,143 shares during the last quarter. Quantitative Investment Management LLC grew its stake in shares of QEP Resources by 20.2% in the 2nd quarter. Quantitative Investment Management LLC now owns 622,100 shares of the pipeline company’s stock valued at $6,283,000 after buying an additional 104,400 shares in the last quarter. Rafferty Asset Management LLC grew its stake in shares of QEP Resources by 34.9% in the 2nd quarter. Rafferty Asset Management LLC now owns 44,033 shares of the pipeline company’s stock valued at $445,000 after buying an additional 11,400 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of QEP Resources by 2.4% in the 2nd quarter. Mutual of America Capital Management LLC now owns 194,746 shares of the pipeline company’s stock valued at $1,967,000 after buying an additional 4,580 shares in the last quarter. Finally, Investec Asset Management LTD grew its stake in shares of QEP Resources by 3.3% in the 2nd quarter. Investec Asset Management LTD now owns 1,345,057 shares of the pipeline company’s stock valued at $13,585,000 after buying an additional 43,396 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.
In other QEP Resources news, Director David A. Trice purchased 25,000 shares of the stock in a transaction on Thursday, August 17th. The shares were purchased at an average price of $7.20 per share, with a total value of $180,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at $288,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julie Dill purchased 5,000 shares of the stock in a transaction on Friday, July 28th. The shares were acquired at an average cost of $8.49 per share, for a total transaction of $42,450.00. Following the transaction, the director now owns 5,525 shares of the company’s stock, valued at $46,907.25. The disclosure for this purchase can be found here. Insiders have purchased 42,500 shares of company stock valued at $321,325 in the last quarter. 1.36% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on QEP. Deutsche Bank AG downgraded QEP Resources from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $18.00 to $13.00 in a report on Tuesday, July 18th. ValuEngine upgraded shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research note on Monday. BMO Capital Markets reiterated a “buy” rating and issued a $11.00 target price on shares of QEP Resources in a research note on Tuesday, June 27th. Barclays PLC reissued a “buy” rating and issued a $10.00 target price on shares of QEP Resources in a research report on Friday, July 7th. Finally, BidaskClub raised shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $15.69.
Shares of QEP Resources, Inc. (NYSE QEP) opened at 8.55 on Wednesday. QEP Resources, Inc. has a 12 month low of $7.02 and a 12 month high of $21.12. The stock has a 50 day moving average price of $7.79 and a 200 day moving average price of $9.71. The firm’s market capitalization is $2.06 billion.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.08. The company had revenue of $383.70 million for the quarter, compared to analysts’ expectations of $413.27 million. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. QEP Resources’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) EPS. On average, analysts expect that QEP Resources, Inc. will post ($0.60) earnings per share for the current year.
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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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