20,000 Shares in QEP Resources, Inc. (QEP) Acquired by Southport Management L.L.C.
Southport Management L.L.C. purchased a new position in shares of QEP Resources, Inc. (NYSE:QEP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 20,000 shares of the pipeline company’s stock, valued at approximately $171,000.
Several other institutional investors and hedge funds have also made changes to their positions in the company. OxFORD Asset Management LLP acquired a new position in shares of QEP Resources during the 3rd quarter worth $611,000. Dimensional Fund Advisors LP increased its stake in shares of QEP Resources by 47.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock worth $57,549,000 after purchasing an additional 2,166,476 shares during the last quarter. Legal & General Group Plc increased its stake in shares of QEP Resources by 11.5% during the 3rd quarter. Legal & General Group Plc now owns 368,973 shares of the pipeline company’s stock worth $3,162,000 after purchasing an additional 37,976 shares during the last quarter. Eagle Boston Investment Management Inc. increased its stake in shares of QEP Resources by 98.7% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 77,607 shares of the pipeline company’s stock worth $663,000 after purchasing an additional 38,544 shares during the last quarter. Finally, Ashburton Jersey Ltd acquired a new position in shares of QEP Resources during the 3rd quarter worth $1,206,000. Institutional investors own 93.29% of the company’s stock.
Shares of QEP Resources, Inc. (QEP) traded down $0.44 during trading on Thursday, reaching $9.12. 5,327,100 shares of the company’s stock were exchanged, compared to its average volume of 5,017,647. 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 12-month low of $7.02 and a 12-month high of $21.12.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.11. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The firm had revenue of $390.10 million during the quarter, compared to the consensus estimate of $393.87 million. During the same period in the prior year, the firm earned ($0.21) EPS. The business’s revenue was up 2.0% on a year-over-year basis. equities research analysts expect that QEP Resources, Inc. will post -0.44 earnings per share for the current fiscal year.
Several research analysts have recently commented on the stock. Barclays lowered shares of QEP Resources from an “overweight” rating to an “equal weight” rating and set a $9.00 price target on the stock. in a research note on Tuesday, November 7th. Zacks Investment Research downgraded shares of QEP Resources from a “buy” rating to a “hold” rating in a report on Monday, November 6th. BMO Capital Markets set a $11.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a report on Tuesday, October 10th. SunTrust Banks reaffirmed a “hold” rating and set a $9.00 price objective on shares of QEP Resources in a report on Wednesday, November 1st. Finally, Stifel Nicolaus decreased their price objective on shares of QEP Resources from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $14.19.
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QEP Resources 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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