State of Wisconsin Investment Board held its position in shares of QEP Resources, Inc. (NYSE:QEP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,574 shares of the pipeline company’s stock at the end of the 2nd quarter. State of Wisconsin Investment Board’s holdings in QEP Resources were worth $480,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund increased its position in shares of QEP Resources by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 84,517 shares of the pipeline company’s stock worth $1,074,000 after acquiring an additional 1,200 shares in the last quarter. Amalgamated Bank grew its holdings in QEP Resources by 3.9% during the 1st quarter. Amalgamated Bank now owns 35,909 shares of the pipeline company’s stock valued at $456,000 after purchasing an additional 1,355 shares in the last quarter. Paloma Partners Management Co grew its holdings in QEP Resources by 13.3% during the 1st quarter. Paloma Partners Management Co now owns 133,439 shares of the pipeline company’s stock valued at $1,696,000 after purchasing an additional 15,632 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in QEP Resources by 72.1% during the 1st quarter. OppenheimerFunds Inc. now owns 25,695 shares of the pipeline company’s stock valued at $327,000 after purchasing an additional 10,761 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in QEP Resources by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 101,400 shares of the pipeline company’s stock valued at $1,024,000 after purchasing an additional 1,700 shares in the last quarter. 93.21% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on QEP shares. Credit Suisse Group started coverage on shares of QEP Resources in a report on Thursday, June 1st. They set a “neutral” rating and a $15.00 price target for the company. BidaskClub raised shares of QEP Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Wolfe Research started coverage on shares of QEP Resources in a report on Thursday, June 15th. They set a “market perform” rating for the company. BMO Capital Markets reaffirmed a “buy” rating and set a $11.00 price target on shares of QEP Resources in a report on Tuesday, June 27th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $10.00 price target on shares of QEP Resources in a report on Friday, July 7th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $16.53.
QEP Resources, Inc. (QEP) opened at 7.64 on Wednesday. QEP Resources, Inc. has a one year low of $7.02 and a one year high of $21.12. The firm’s market capitalization is $1.84 billion. The firm’s 50-day moving average is $7.69 and its 200 day moving average is $10.32.
QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.08. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The business had revenue of $383.70 million for the quarter, compared to analyst estimates of $413.27 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. QEP Resources’s revenue was up 15.0% compared to the same quarter last year. Analysts forecast that QEP Resources, Inc. will post ($0.60) EPS for the current fiscal year.
In related news, Director Julie Dill bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average price of $8.49 per share, with a total value of $42,450.00. Following the completion of the transaction, the director now owns 5,525 shares of the company’s stock, valued at approximately $46,907.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David A. Trice bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $7.20 per share, for a total transaction of $180,000.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at approximately $288,000. The disclosure for this purchase can be found here. Insiders have purchased 42,500 shares of company stock worth $321,325 in the last ninety days. 1.36% of the stock is currently owned by insiders.
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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