QEP Resources, Inc. (QEP) Stake Lessened by Quantbot Technologies LP
Quantbot Technologies LP lessened its stake in QEP Resources, Inc. (NYSE:QEP) by 52.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,954 shares of the pipeline company’s stock after selling 30,223 shares during the quarter. Quantbot Technologies LP’s holdings in QEP Resources were worth $282,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of QEP. Utah Retirement Systems grew its stake in QEP Resources by 0.5% in the second quarter. Utah Retirement Systems now owns 43,794 shares of the pipeline company’s stock worth $442,000 after purchasing an additional 200 shares in the last quarter. Sei Investments Co. increased its holdings in QEP Resources by 0.5% in the first quarter. Sei Investments Co. now owns 60,648 shares of the pipeline company’s stock valued at $771,000 after buying an additional 273 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in QEP Resources by 1.6% in the first quarter. Teacher Retirement System of Texas now owns 19,043 shares of the pipeline company’s stock valued at $242,000 after buying an additional 307 shares during the last quarter. Capstone Asset Management Co. increased its holdings in QEP Resources by 1.7% in the second quarter. Capstone Asset Management Co. now owns 19,267 shares of the pipeline company’s stock valued at $195,000 after buying an additional 320 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in QEP Resources by 0.3% in 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 buying an additional 330 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director David A. Trice purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $7.20 per share, with a total value of $180,000.00. Following the purchase, the director now directly owns 40,000 shares in the company, valued at $288,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard J. Doleshek purchased 12,500 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was bought at an average cost of $7.91 per share, for a total transaction of $98,875.00. Following the purchase, the chief financial officer now owns 304,539 shares in the company, valued at $2,408,903.49. The disclosure for this purchase can be found here. Over the last three months, insiders bought 42,500 shares of company stock valued at $321,325. 1.36% of the stock is currently owned by insiders.
Shares of QEP Resources, Inc. (QEP) opened at 8.55 on Wednesday. The company has a 50 day moving average of $7.79 and a 200-day moving average of $9.71. The firm’s market cap is $2.06 billion. QEP Resources, Inc. has a 12-month low of $7.02 and a 12-month high of $21.12.
QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, beating the 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 analyst estimates of $413.27 million. During the same period in the prior year, the company posted ($0.23) EPS. The company’s revenue was up 15.0% compared to the same quarter last year. Equities research analysts forecast that QEP Resources, Inc. will post ($0.60) EPS for the current fiscal year.
QEP has been the topic of a number of research analyst reports. Cowen and Company set a $12.00 target price on QEP Resources and gave the stock a “buy” rating in a report on Friday, August 25th. Deutsche Bank AG lowered QEP Resources from a “buy” rating to a “hold” rating and decreased their target price for the stock from $18.00 to $13.00 in a research report on Tuesday, July 18th. Barclays PLC reiterated a “buy” rating and issued a $10.00 price target on shares of QEP Resources in a report on Friday, July 7th. ValuEngine downgraded QEP Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 8th. Finally, Wolfe Research initiated coverage on QEP Resources in a research report on Thursday, June 15th. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.69.
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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.
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