QEP Resources, Inc. (QEP) Shares Sold by Alyeska Investment Group L.P.
Alyeska Investment Group L.P. lessened its holdings in shares of QEP Resources, Inc. (NYSE:QEP) by 84.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 320,190 shares of the pipeline company’s stock after selling 1,705,365 shares during the period. Alyeska Investment Group L.P. owned approximately 0.13% of QEP Resources worth $2,744,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wealthsource Partners LLC lifted its position in shares of QEP Resources by 0.5% during the 2nd quarter. Wealthsource Partners LLC now owns 24,712 shares of the pipeline company’s stock worth $250,000 after purchasing an additional 123 shares during the last quarter. Utah Retirement Systems increased its stake 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 acquiring an additional 200 shares during the period. Capstone Asset Management Co. increased its stake 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 acquiring an additional 320 shares during the period. Pitcairn Co. increased its stake in QEP Resources by 4.3% during the second quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock valued at $136,000 after acquiring an additional 563 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in QEP Resources by 3.0% during the second quarter. Teacher Retirement System of Texas now owns 19,618 shares of the pipeline company’s stock valued at $198,000 after acquiring an additional 575 shares during the period. 93.29% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on QEP. ValuEngine lowered QEP Resources from a “sell” rating to a “strong sell” rating in a research note 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 research note 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 research note on Tuesday, November 14th. Stifel Nicolaus lowered their price target on QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, September 26th. Finally, Mizuho upgraded QEP Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.76.
QEP Resources, Inc. (NYSE QEP) traded down $0.22 during mid-day trading on Thursday, hitting $8.86. The stock had a trading volume of 4,049,800 shares, compared to its average volume of 4,998,587. QEP Resources, Inc. has a 52 week low of $7.02 and a 52 week high of $19.62. 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 quarterly earnings data on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.11. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The company had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. During the same period in the prior year, the company posted ($0.21) EPS. The company’s revenue was up 2.0% compared to the same quarter last year. analysts forecast that QEP Resources, Inc. will post -0.44 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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