Mitchell Group Inc. lifted its position in shares of QEP Resources, Inc. (NYSE:QEP) by 63.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,870,290 shares of the pipeline company’s stock after acquiring an additional 728,590 shares during the quarter. QEP Resources accounts for approximately 3.0% of Mitchell Group Inc.’s portfolio, making the stock its 22nd largest holding. Mitchell Group Inc. owned about 0.78% of QEP Resources worth $18,890,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of QEP. BlackRock Inc. grew its position in QEP Resources by 12,055.6% during the first quarter. BlackRock Inc. now owns 19,952,610 shares of the pipeline company’s stock worth $253,598,000 after buying an additional 19,788,467 shares during the period. Wellington Management Group LLP lifted its holdings in shares of QEP Resources by 10.0% in the first quarter. Wellington Management Group LLP now owns 22,993,414 shares of the pipeline company’s stock valued at $292,247,000 after purchasing an additional 2,097,855 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of QEP Resources by 29.0% in the first quarter. Alliancebernstein L.P. now owns 7,646,319 shares of the pipeline company’s stock valued at $97,185,000 after purchasing an additional 1,719,460 shares in the last quarter. Caymus Capital Partners L.P. lifted its stake in shares of QEP Resources by 18.2% during the second quarter. Caymus Capital Partners L.P. now owns 7,931,300 shares of the pipeline company’s stock valued at $80,106,000 after buying an additional 1,220,700 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of QEP Resources by 43.8% during the first quarter. Mackenzie Financial Corp now owns 3,268,689 shares of the pipeline company’s stock valued at $41,545,000 after buying an additional 995,450 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.
Shares of QEP Resources, Inc. (QEP) opened at 7.96 on Friday. QEP Resources, Inc. has a one year low of $7.02 and a one year high of $21.12. The firm has a 50-day moving average of $7.57 and a 200 day moving average of $10.20. The company’s market cap is $1.91 billion.
QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.08. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The firm had revenue of $383.70 million for the quarter, compared to analysts’ expectations of $413.27 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts anticipate that QEP Resources, Inc. will post ($0.60) EPS for the current year.
Several equities analysts recently issued reports on the stock. BidaskClub raised shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. National Securities started coverage on shares of QEP Resources in a report on Monday, July 31st. They set a “buy” rating and a $11.00 price target for the company. Cowen and Company set a $12.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a report on Wednesday, July 19th. BMO Capital Markets restated a “buy” rating and issued a $11.00 price target on shares of QEP Resources in a research report on Tuesday, June 27th. Finally, J P Morgan Chase & Co downgraded shares of QEP Resources from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $11.00 to $9.00 in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. QEP Resources has a consensus rating of “Hold” and an average target price of $16.53.
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In related news, Director David A. Trice acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $7.20 per share, with a total value of $180,000.00. Following the completion of the purchase, the director now directly owns 40,000 shares in the company, valued at $288,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julie Dill purchased 5,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was acquired at an average cost of $8.49 per share, for a total transaction of $42,450.00. Following the completion of the purchase, the director now owns 5,525 shares of the company’s stock, valued at approximately $46,907.25. The disclosure for this purchase can be found here. Insiders have bought 42,500 shares of company stock worth $321,325 over the last three months. Insiders own 1.36% of the company’s stock.
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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