New York State Common Retirement Fund Sells 17,101 Shares of QEP Resources, Inc. (QEP)

New York State Common Retirement Fund decreased its holdings in QEP Resources, Inc. (NYSE:QEP) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 489,500 shares of the pipeline company’s stock after selling 17,101 shares during the quarter. New York State Common Retirement Fund owned 0.20% of QEP Resources worth $4,944,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of QEP. UBS Asset Management Americas Inc. grew its position in QEP Resources by 7.8% in the first quarter. UBS Asset Management Americas Inc. now owns 235,390 shares of the pipeline company’s stock worth $2,992,000 after buying an additional 17,068 shares during the last quarter. Karp Capital Management Corp acquired a new position in QEP Resources in the first quarter worth approximately $343,000. Sei Investments Co. grew its position in QEP Resources by 0.5% in the first quarter. Sei Investments Co. now owns 60,648 shares of the pipeline company’s stock worth $771,000 after buying an additional 273 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in QEP Resources by 6.5% in the first quarter. Parametric Portfolio Associates LLC now owns 257,919 shares of the pipeline company’s stock worth $3,278,000 after buying an additional 15,801 shares during the last quarter. Finally, M&T Bank Corp grew its position in QEP Resources by 19.6% in the first quarter. M&T Bank Corp now owns 18,658 shares of the pipeline company’s stock worth $237,000 after buying an additional 3,064 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

QEP Resources, Inc. (NYSE QEP) opened at 8.91 on Monday. QEP Resources, Inc. has a 12-month low of $7.02 and a 12-month high of $21.12. The stock’s market capitalization is $2.14 billion. The stock’s 50 day moving average is $8.17 and its 200 day moving average is $9.50.

QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.08. The company had revenue of $383.70 million for the quarter, compared to analyst estimates of $413.27 million. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the business posted ($0.23) earnings per share. Analysts forecast that QEP Resources, Inc. will post ($0.59) EPS for the current year.

In related news, CFO Richard J. Doleshek acquired 12,500 shares of the stock in a transaction dated Friday, July 28th. The stock was bought at an average price of $7.91 per share, with a total value of $98,875.00. Following the completion of the transaction, the chief financial officer now directly owns 304,539 shares of the company’s stock, valued at $2,408,903.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Trice acquired 25,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $288,000. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 42,500 shares of company stock worth $321,325. Company insiders own 1.36% of the company’s stock.

Several research analysts have issued reports on the stock. ValuEngine lowered shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, September 8th. J P Morgan Chase & Co lowered shares of QEP Resources from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $9.00 in a research report on Thursday, July 27th. Stifel Nicolaus decreased their price target on shares of QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, September 26th. Cowen and Company set a $12.00 price target on shares of QEP Resources and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, Barclays PLC lifted their price target on shares of QEP Resources from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $14.93.

ILLEGAL ACTIVITY NOTICE: This story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at h

A number of other institutional investors have also bought and sold shares of QEP. UBS Asset Management Americas Inc. grew its position in QEP Resources by 7.8% in the first quarter. UBS Asset Management Americas Inc. now owns 235,390 shares of the pipeline company’s stock worth $2,992,000 after buying an additional 17,068 shares during the last quarter. Karp Capital Management Corp acquired a new position in QEP Resources in the first quarter worth approximately $343,000. Sei Investments Co. grew its position in QEP Resources by 0.5% in the first quarter. Sei Investments Co. now owns 60,648 shares of the pipeline company’s stock worth $771,000 after buying an additional 273 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in QEP Resources by 6.5% in the first quarter. Parametric Portfolio Associates LLC now owns 257,919 shares of the pipeline company’s stock worth $3,278,000 after buying an additional 15,801 shares during the last quarter. Finally, M&T Bank Corp grew its position in QEP Resources by 19.6% in the first quarter. M&T Bank Corp now owns 18,658 shares of the pipeline company’s stock worth $237,000 after buying an additional 3,064 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

QEP Resources, Inc. (NYSE QEP) opened at 8.91 on Monday. QEP Resources, Inc. has a 12-month low of $7.02 and a 12-month high of $21.12. The stock’s market capitalization is $2.14 billion. The stock’s 50 day moving average is $8.17 and its 200 day moving average is $9.50.

QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.08. The company had revenue of $383.70 million for the quarter, compared to analyst estimates of $413.27 million. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the business posted ($0.23) earnings per share. Analysts forecast that QEP Resources, Inc. will post ($0.59) EPS for the current year.

In related news, CFO Richard J. Doleshek acquired 12,500 shares of the stock in a transaction dated Friday, July 28th. The stock was bought at an average price of $7.91 per share, with a total value of $98,875.00. Following the completion of the transaction, the chief financial officer now directly owns 304,539 shares of the company’s stock, valued at $2,408,903.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David A. Trice acquired 25,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $288,000. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 42,500 shares of company stock worth $321,325. Company insiders own 1.36% of the company’s stock.

Several research analysts have issued reports on the stock. ValuEngine lowered shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, September 8th. J P Morgan Chase & Co lowered shares of QEP Resources from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $9.00 in a research report on Thursday, July 27th. Stifel Nicolaus decreased their price target on shares of QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, September 26th. Cowen and Company set a $12.00 price target on shares of QEP Resources and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, Barclays PLC lifted their price target on shares of QEP Resources from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $14.93.

ILLEGAL ACTIVITY NOTICE: This story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/16/new-york-state-common-retirement-fund-sells-17101-shares-of-qep-resources-inc-qep.html.

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

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