Fifth Third Bancorp reduced its stake in shares of QEP Resources, Inc. (NYSE:QEP) by 15.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,496 shares of the pipeline company’s stock after selling 2,092 shares during the period. Fifth Third Bancorp’s holdings in QEP Resources were worth $146,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in QEP. Thompson Rubinstein Investment Management Inc. OR increased its position in shares of QEP Resources by 25.7% in the first quarter. Thompson Rubinstein Investment Management Inc. OR now owns 186,454 shares of the pipeline company’s stock valued at $2,370,000 after buying an additional 38,096 shares during the last quarter. Highbridge Capital Management LLC boosted its stake in shares of QEP Resources by 189.3% in the fourth quarter. Highbridge Capital Management LLC now owns 1,305,405 shares of the pipeline company’s stock valued at $24,032,000 after buying an additional 854,188 shares during the period. Teachers Advisors LLC boosted its stake in shares of QEP Resources by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 888,226 shares of the pipeline company’s stock valued at $16,352,000 after buying an additional 21,633 shares during the period. Norges Bank purchased a new stake in shares of QEP Resources during the fourth quarter valued at about $35,383,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of QEP Resources by 8.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,060 shares of the pipeline company’s stock valued at $756,000 after buying an additional 3,340 shares during the period. Institutional investors and hedge funds own 92.76% of the company’s stock.
Shares of QEP Resources, Inc. (NYSE QEP) opened at 9.76 on Wednesday. The company’s market capitalization is $2.35 billion. QEP Resources, Inc. has a 52 week low of $8.78 and a 52 week high of $21.12. The firm’s 50-day moving average price is $10.55 and its 200 day moving average price is $14.33.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, April 26th. The pipeline company reported ($0.14) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.07. The firm had revenue of $420.10 million for the quarter, compared to analyst estimates of $402.16 million. QEP Resources had a negative net margin of 19.81% and a negative return on equity of 4.78%. QEP Resources’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same period last year, the company posted ($0.53) EPS. Equities analysts predict that QEP Resources, Inc. will post ($0.70) EPS for the current year.
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Several brokerages have recently issued reports on QEP. Deutsche Bank AG reduced their target price on QEP Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, March 7th. Mizuho cut QEP Resources from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Tuesday, March 21st. KLR Group lifted their target price on QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Stifel Nicolaus began coverage on QEP Resources in a report on Wednesday, April 12th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, FBR & Co set a $20.00 target price on QEP Resources and gave the stock a “buy” rating in a report on Saturday, April 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.42.
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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