QEP Resources, Inc. (QEP) Position Trimmed by Aperio Group LLC
Aperio Group LLC reduced its position in QEP Resources, Inc. (NYSE:QEP) by 12.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 56,295 shares of the pipeline company’s stock after selling 8,130 shares during the period. Aperio Group LLC’s holdings in QEP Resources were worth $482,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in QEP Resources by 77.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,548,695 shares of the pipeline company’s stock worth $45,941,000 after acquiring an additional 1,988,685 shares in the last quarter. State Street Corp lifted its holdings in QEP Resources by 16.1% during the second quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock worth $108,526,000 after acquiring an additional 1,489,661 shares in the last quarter. Key Group Holdings Cayman LTD. lifted its holdings in QEP Resources by 55.7% during the second quarter. Key Group Holdings Cayman LTD. now owns 3,463,104 shares of the pipeline company’s stock worth $34,977,000 after acquiring an additional 1,238,891 shares in the last quarter. Caymus Capital Partners L.P. lifted its holdings in QEP Resources by 18.2% during the second quarter. Caymus Capital Partners L.P. now owns 7,931,300 shares of the pipeline company’s stock worth $80,106,000 after acquiring an additional 1,220,700 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in QEP Resources by 219.4% during the third quarter. First Trust Advisors LP now owns 1,390,500 shares of the pipeline company’s stock worth $11,917,000 after acquiring an additional 955,123 shares in the last quarter. 88.41% of the stock is owned by institutional investors.
Shares of QEP Resources, Inc. (NYSE QEP) traded up $0.05 during trading on Friday, hitting $9.43. The stock had a trading volume of 2,311,228 shares, compared to its average volume of 5,062,303. QEP Resources, Inc. has a 12 month low of $7.02 and a 12 month high of $21.12. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.54 and a current ratio of 1.55.
QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.11. The business had revenue of $390.10 million for the quarter, compared to the consensus estimate of $393.87 million. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. QEP Resources’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.21) earnings per share. analysts predict that QEP Resources, Inc. will post -0.45 earnings per share for the current fiscal year.
Several research analysts have weighed in on the company. ValuEngine lowered QEP Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 8th. Zacks Investment Research upgraded QEP Resources from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Thursday, November 2nd. BMO Capital Markets set a $11.00 price target on QEP Resources and gave the company a “buy” rating in a report on Tuesday, November 14th. Stifel Nicolaus cut their price target on QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. Finally, Mizuho upgraded QEP Resources from a “neutral” rating to a “buy” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $14.19.
QEP Resources 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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