Investec Asset Management LTD Purchases New Position in QEP Resources, Inc. (QEP)

Investec Asset Management LTD purchased a new position in shares of QEP Resources, Inc. (NYSE:QEP) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 652,101 shares of the company’s stock, valued at approximately $12,005,000.

Several other hedge funds have also recently made changes to their positions in QEP. Creative Planning increased its stake in shares of QEP Resources by 0.6% in the third quarter. Creative Planning now owns 32,954 shares of the company’s stock worth $644,000 after buying an additional 200 shares in the last quarter. Oakbrook Investments LLC increased its stake in shares of QEP Resources by 0.8% in the third quarter. Oakbrook Investments LLC now owns 24,200 shares of the company’s stock worth $473,000 after buying an additional 200 shares in the last quarter. Benin Management CORP increased its stake in shares of QEP Resources by 1.4% in the third quarter. Benin Management CORP now owns 14,750 shares of the company’s stock worth $288,000 after buying an additional 200 shares in the last quarter. Aperio Group LLC increased its stake in shares of QEP Resources by 1.0% in the third quarter. Aperio Group LLC now owns 22,465 shares of the company’s stock worth $439,000 after buying an additional 222 shares in the last quarter. Finally, Advantus Capital Management Inc increased its stake in shares of QEP Resources by 1.7% in the third quarter. Advantus Capital Management Inc now owns 29,163 shares of the company’s stock worth $570,000 after buying an additional 491 shares in the last quarter. Institutional investors and hedge funds own 90.76% of the company’s stock.

Institutional Ownership by Quarter for QEP Resources (NYSE:QEP)

QEP Resources, Inc. (NYSE:QEP) traded up 0.913% on Tuesday, reaching $17.135. The company had a trading volume of 814,412 shares. The stock’s 50-day moving average price is $17.97 and its 200-day moving average price is $18.30. The stock’s market capitalization is $4.10 billion. QEP Resources, Inc. has a 12-month low of $9.17 and a 12-month high of $21.12.

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A number of brokerages recently weighed in on QEP. FBR & Co upgraded shares of QEP Resources from a “market perform” rating to an “outperform” rating and increased their price target for the company from $20.00 to $24.00 in a research report on Tuesday, January 3rd. Scotiabank raised QEP Resources from an “outperform” rating to a “focus stock” rating and increased their target price for the stock from $31.00 to $33.00 in a research note on Thursday, January 12th. Wells Fargo & Company raised QEP Resources from a “market perform” rating to an “outperform” rating in a research note on Friday. Finally, Zacks Investment Research cut QEP Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $23.38.

QEP Resources Company Profile

QEP Resources, Inc (QEP) is a holding company with two subsidiaries, QEP Energy Company and QEP Marketing Company, which are engaged in two primary lines of business: oil and gas exploration and production (QEP Energy), and oil and gas marketing, operation of a gas gathering system and an underground gas storage facility, and corporate activities (QEP Marketing and Other).

5 Day Chart for NYSE:QEP

Want to see what other hedge funds are holding QEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QEP Resources, Inc. (NYSE:QEP).

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