Bremer Trust National Association purchased a new position in shares of QEP Resources Inc (NYSE:QEP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,960 shares of the pipeline company’s stock, valued at approximately $28,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. Texas Permanent School Fund raised its holdings in shares of QEP Resources by 3.9% in the fourth quarter. Texas Permanent School Fund now owns 154,940 shares of the pipeline company’s stock valued at $872,000 after buying an additional 5,834 shares during the last quarter. BlackRock Inc. raised its holdings in QEP Resources by 3.5% during the 4th quarter. BlackRock Inc. now owns 21,413,968 shares of the pipeline company’s stock worth $120,561,000 after purchasing an additional 727,179 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in QEP Resources during the 4th quarter worth about $86,000. California Public Employees Retirement System raised its holdings in QEP Resources by 14.8% during the 4th quarter. California Public Employees Retirement System now owns 688,245 shares of the pipeline company’s stock worth $3,875,000 after purchasing an additional 88,616 shares during the last quarter. Finally, FDx Advisors Inc. raised its holdings in QEP Resources by 11.2% during the 4th quarter. FDx Advisors Inc. now owns 20,771 shares of the pipeline company’s stock worth $117,000 after purchasing an additional 2,100 shares during the last quarter. Hedge funds and other institutional investors own 99.22% of the company’s stock.
QEP has been the subject of several recent research reports. Oppenheimer reissued a “buy” rating on shares of QEP Resources in a report on Wednesday, November 7th. Tudor Pickering raised QEP Resources from a “hold” rating to a “buy” rating in a report on Wednesday, November 7th. Williams Capital set a $15.00 price objective on QEP Resources and gave the stock a “buy” rating in a report on Wednesday, November 7th. ValuEngine cut QEP Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, November 8th. Finally, Credit Suisse Group raised QEP Resources from an “underperform” rating to a “neutral” rating and set a $11.00 price objective for the company in a report on Tuesday, November 20th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.07.
QEP Resources stock opened at $7.61 on Thursday. The stock has a market cap of $1.88 billion, a PE ratio of -44.76, a P/E/G ratio of 1.93 and a beta of 2.10. QEP Resources Inc has a 1 year low of $5.00 and a 1 year high of $13.77. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.84 and a quick ratio of 0.35.
QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, February 20th. The pipeline company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.15). The company had revenue of $410.50 million for the quarter, compared to analyst estimates of $434.58 million. QEP Resources had a negative return on equity of 0.73% and a negative net margin of 52.34%. QEP Resources’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 earnings per share. Equities analysts forecast that QEP Resources Inc will post 0.4 EPS for the current year.
About QEP Resources
QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.
Further Reading: Compound Interest
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