QEP Resources, Inc. (QEP) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. cut its stake in QEP Resources, Inc. (NYSE:QEP) by 16.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,354,487 shares of the pipeline company’s stock after selling 451,838 shares during the quarter. Prudential Financial Inc. owned approximately 0.98% of QEP Resources worth $20,178,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of QEP. OppenheimerFunds Inc. raised its position in shares of QEP Resources by 72.1% in the first 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 during the period. Capstone Asset Management Co. raised its position in shares of QEP Resources by 1.7% in the second quarter. Capstone Asset Management Co. now owns 19,267 shares of the pipeline company’s stock valued at $195,000 after purchasing an additional 320 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of QEP Resources by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 88,205 shares of the pipeline company’s stock valued at $891,000 after purchasing an additional 3,688 shares during the period. LS Investment Advisors LLC raised its position in shares of QEP Resources by 21.1% in the second quarter. LS Investment Advisors LLC now owns 19,064 shares of the pipeline company’s stock valued at $193,000 after purchasing an additional 3,316 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of QEP Resources by 3.6% in the second quarter. Louisiana State Employees Retirement System now owns 62,700 shares of the pipeline company’s stock valued at $633,000 after purchasing an additional 2,200 shares during the period. 89.49% of the stock is currently owned by institutional investors.
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Several equities analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective 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. BMO Capital Markets set a $11.00 price target on shares of QEP Resources and gave the company a “buy” rating in a research note on Tuesday. Barclays PLC decreased their price target on shares of QEP Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 26th. KLR Group restated a “buy” rating and issued a $14.00 price target (down from $15.00) on shares of QEP Resources in a research note on Wednesday, September 27th. Finally, J P Morgan Chase & Co downgraded shares of QEP Resources from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $11.00 to $9.00 in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $14.19.
Shares of QEP Resources, Inc. (NYSE:QEP) opened at $8.80 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.52. QEP Resources, Inc. has a one year low of $7.02 and a one year high of $21.12.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.11. The firm had revenue of $390.10 million for the quarter, compared to the consensus estimate of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.21) earnings per share. equities analysts forecast that QEP Resources, Inc. will post -0.46 earnings per share for the current year.
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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