Oppenheimer Asset Management Inc. raised its holdings in shares of QEP Resources, Inc. (NYSE:QEP) by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,470 shares of the pipeline company’s stock after purchasing an additional 778 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in QEP Resources were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Utah Retirement Systems lifted its holdings in QEP Resources by 0.5% during the second quarter. Utah Retirement Systems now owns 43,794 shares of the pipeline company’s stock valued at $442,000 after purchasing an additional 200 shares during the last quarter. Sei Investments Co. lifted its holdings in QEP Resources by 0.5% during the first quarter. Sei Investments Co. now owns 60,648 shares of the pipeline company’s stock valued at $771,000 after purchasing an additional 273 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in QEP Resources by 1.6% during the first quarter. Teacher Retirement System of Texas now owns 19,043 shares of the pipeline company’s stock valued at $242,000 after purchasing an additional 307 shares during the last quarter. Capstone Asset Management Co. lifted its holdings in QEP Resources by 1.7% during the second quarter. Capstone Asset Management Co. now owns 19,267 shares of the pipeline company’s stock valued at $195,000 after purchasing an additional 320 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in QEP Resources by 0.3% during the first quarter. Municipal Employees Retirement System of Michigan now owns 111,020 shares of the pipeline company’s stock valued at $1,411,000 after purchasing an additional 330 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.

QEP Resources, Inc. (QEP) opened at 7.98 on Wednesday. The company has a 50 day moving average of $7.54 and a 200 day moving average of $10.05. The company’s market capitalization is $1.92 billion. 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, July 26th. The pipeline company reported ($0.12) EPS for the quarter, topping the Zacks’ 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 company had revenue of $383.70 million for the quarter, compared to analysts’ expectations of $413.27 million. During the same period in the previous year, the firm earned ($0.23) EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts forecast that QEP Resources, Inc. will post ($0.60) earnings per share for the current fiscal year.

In other QEP Resources news, Director Julie Dill purchased 5,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were bought at an average cost of $8.49 per share, with a total value of $42,450.00. Following the acquisition, the director now owns 5,525 shares in the company, valued at $46,907.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David A. Trice purchased 25,000 shares of the stock in a transaction that occurred on 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 acquisition, the director now owns 40,000 shares in the company, valued at approximately $288,000. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 42,500 shares of company stock worth $321,325. 1.36% of the stock is owned by insiders.

QEP has been the topic of several recent research reports. Cowen and Company set a $12.00 price objective on shares of QEP Resources and gave the company a “buy” rating in a report on Friday, August 25th. Deutsche Bank AG downgraded shares of QEP Resources from a “buy” rating to a “hold” rating and dropped their price objective for the company from $18.00 to $13.00 in a report on Tuesday, July 18th. Barclays PLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of QEP Resources in a report on Friday, July 7th. Credit Suisse Group initiated coverage on shares of QEP Resources in a report on Thursday, June 1st. They set a “neutral” rating and a $15.00 price objective on the stock. Finally, Wolfe Research initiated coverage on shares of QEP Resources in a report on Thursday, June 15th. They set a “market perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. QEP Resources currently has a consensus rating of “Hold” and an average target price of $16.25.

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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.

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

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