Swiss National Bank Grows Position in QEP Resources Inc (QEP)
Swiss National Bank increased its position in QEP Resources Inc (NYSE:QEP) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,742 shares of the pipeline company’s stock after acquiring an additional 14,000 shares during the period. Swiss National Bank’s holdings in QEP Resources were worth $3,979,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QEP. First Trust Advisors LP grew its holdings in QEP Resources by 219.4% during the 3rd quarter. First Trust Advisors LP now owns 1,390,500 shares of the pipeline company’s stock valued at $11,917,000 after buying an additional 955,123 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in QEP Resources during the 3rd quarter valued at $179,000. Canada Pension Plan Investment Board grew its holdings in QEP Resources by 10.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 488,000 shares of the pipeline company’s stock valued at $4,182,000 after buying an additional 47,300 shares during the last quarter. ARP Americas LLC acquired a new stake in QEP Resources during the 3rd quarter valued at $195,000. Finally, Bbva Compass Bancshares Inc. acquired a new stake in QEP Resources during the 3rd quarter valued at $178,000. Institutional investors and hedge funds own 90.41% of the company’s stock.
A number of brokerages have commented on QEP. ValuEngine upgraded QEP Resources from a “sell” rating to a “hold” rating in a report on Thursday. Williams Capital set a $18.00 target price on QEP Resources and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research upgraded QEP Resources from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Tuesday, February 13th. B. Riley began coverage on QEP Resources in a report on Monday, February 5th. They set a “neutral” rating and a $10.50 target price on the stock. Finally, Deutsche Bank began coverage on QEP Resources in a report on Thursday, February 1st. They set a “hold” rating and a $11.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $12.84.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, February 28th. The pipeline company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $1.20. QEP Resources had a return on equity of 5.06% and a net margin of 16.59%. The company had revenue of $429.00 million for the quarter, compared to analyst estimates of $392.01 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. sell-side analysts expect that QEP Resources Inc will post 0.07 earnings per share for the current year.
QEP Resources declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 28th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the pipeline company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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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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