Morgan Stanley raised its position in shares of QEP Resources, Inc. (NYSE:QEP) by 3.3% during the first quarter, Holdings Channel reports. The firm owned 1,247,035 shares of the pipeline company’s stock after buying an additional 39,504 shares during the period. Morgan Stanley’s holdings in QEP Resources were worth $15,850,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its position in shares of QEP Resources by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 84,517 shares of the pipeline company’s stock worth $1,074,000 after buying an additional 1,200 shares during the period. Retirement Systems of Alabama increased its position in shares of QEP Resources by 4.5% in the first quarter. Retirement Systems of Alabama now owns 582,834 shares of the pipeline company’s stock worth $7,408,000 after buying an additional 25,079 shares during the period. Thrivent Financial for Lutherans increased its position in shares of QEP Resources by 8.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,060 shares of the pipeline company’s stock worth $756,000 after buying an additional 3,340 shares during the period. Guggenheim Capital LLC increased its position in shares of QEP Resources by 9.8% in the fourth quarter. Guggenheim Capital LLC now owns 214,665 shares of the pipeline company’s stock worth $3,952,000 after buying an additional 19,152 shares during the period. Finally, Clinton Group Inc. increased its position in shares of QEP Resources by 74.3% in the first quarter. Clinton Group Inc. now owns 116,154 shares of the pipeline company’s stock worth $1,476,000 after buying an additional 49,530 shares during the period. 92.27% of the stock is owned by hedge funds and other institutional investors.

Shares of QEP Resources, Inc. (QEP) opened at 9.37 on Tuesday. QEP Resources, Inc. has a 1-year low of $8.58 and a 1-year high of $21.12. The stock’s market cap is $2.25 billion. The stock’s 50 day moving average price is $10.20 and its 200 day moving average price is $13.87.

QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, April 26th. The pipeline company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.07. QEP Resources had a negative return on equity of 4.78% and a negative net margin of 19.81%. The business had revenue of $420.10 million during the quarter, compared to analyst estimates of $402.16 million. During the same quarter in the previous year, the firm posted ($0.53) EPS. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, equities research analysts anticipate that QEP Resources, Inc. will post ($0.72) EPS for the current fiscal year.

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A number of equities analysts recently issued reports on QEP shares. Mizuho downgraded QEP Resources from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Tuesday, March 21st. Credit Suisse Group started coverage on QEP Resources in a report on Thursday, June 1st. They issued a “neutral” rating and a $15.00 price target for the company. KLR Group upped their price target on QEP Resources from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, April 28th. Stifel Nicolaus started coverage on QEP Resources in a report on Wednesday, April 12th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Wolfe Research started coverage on QEP Resources in a report on Thursday, June 15th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $18.42.

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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