Envestnet Asset Management Inc. Has $196,000 Stake in QEP Resources, Inc. (QEP)
Envestnet Asset Management Inc. lessened its stake in shares of QEP Resources, Inc. (NYSE:QEP) by 20.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,759 shares of the pipeline company’s stock after selling 5,848 shares during the quarter. Envestnet Asset Management Inc.’s holdings in QEP Resources were worth $196,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in QEP Resources by 47.6% during the third quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock worth $57,549,000 after acquiring an additional 2,166,476 shares during the period. Frontier Capital Management Co. LLC grew its holdings in QEP Resources by 98.5% during the third quarter. Frontier Capital Management Co. LLC now owns 3,106,908 shares of the pipeline company’s stock worth $26,626,000 after acquiring an additional 1,541,894 shares during the period. State Street Corp grew its holdings in QEP Resources by 16.1% during the second quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock worth $108,526,000 after acquiring an additional 1,489,661 shares during the period. Key Group Holdings Cayman LTD. grew its holdings in QEP Resources by 55.7% during the second quarter. Key Group Holdings Cayman LTD. now owns 3,463,104 shares of the pipeline company’s stock worth $34,977,000 after acquiring an additional 1,238,891 shares during the period. Finally, Oslo Asset Management AS acquired a new position in QEP Resources during the third quarter worth $10,041,000. Institutional investors and hedge funds own 93.12% of the company’s stock.
Shares of QEP Resources, Inc. (QEP) opened at $9.85 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.54. The firm has a market capitalization of $2,312.98, a price-to-earnings ratio of -164.14 and a beta of 1.73. QEP Resources, Inc. has a twelve month low of $7.02 and a twelve month high of $19.52.
A number of research analysts recently weighed in on QEP shares. BMO Capital Markets set a $11.00 price objective on QEP Resources and gave the stock a “buy” rating in a report on Tuesday, October 10th. Piper Jaffray Companies reissued a “buy” rating and issued a $12.00 target price on shares of QEP Resources in a report on Sunday, October 22nd. Stifel Nicolaus lowered their target price on QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. KLR Group reissued a “buy” rating and issued a $14.00 target price (down previously from $15.00) on shares of QEP Resources in a report on Wednesday, September 27th. Finally, Zacks Investment Research raised QEP Resources from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $13.76.
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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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