QEP Resources Inc (NYSE:QEP) Director David A. Trice purchased 10,000 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $3.50 per share, for a total transaction of $35,000.00. Following the completion of the transaction, the director now directly owns 70,000 shares in the company, valued at $245,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

QEP stock traded down $0.34 during trading on Friday, hitting $3.51. 3,714,531 shares of the stock traded hands, compared to its average volume of 6,661,072. QEP Resources Inc has a one year low of $3.39 and a one year high of $12.05. The stock has a market cap of $946.89 million, a price-to-earnings ratio of 26.53 and a beta of 1.92. The company has a 50 day simple moving average of $5.15 and a 200 day simple moving average of $6.90. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77.

QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.07). QEP Resources had a negative net margin of 44.56% and a positive return on equity of 1.29%. The firm had revenue of $296.20 million for the quarter, compared to the consensus estimate of $293.93 million. During the same period in the prior year, the business earned $0.06 earnings per share. The company’s revenue for the quarter was down 44.4% on a year-over-year basis. As a group, analysts predict that QEP Resources Inc will post 0.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Monday, August 19th. QEP Resources’s dividend payout ratio is currently -47.06%.

Several research firms have issued reports on QEP. Tudor Pickering lowered shares of QEP Resources from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. JPMorgan Chase & Co. lowered shares of QEP Resources from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $11.00 to $9.00 in a research report on Friday, June 7th. Piper Jaffray Companies set a $5.00 price target on shares of QEP Resources and gave the stock a “hold” rating in a research report on Friday, August 16th. ValuEngine upgraded shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Oppenheimer downgraded shares of QEP Resources from an “outperform” rating to a “market perform” rating and set a $7.25 price objective for the company. in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $9.30.

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in QEP Resources by 31.8% during the 2nd quarter. BlackRock Inc. now owns 28,182,615 shares of the pipeline company’s stock valued at $203,761,000 after purchasing an additional 6,792,284 shares during the last quarter. Vanguard Group Inc. lifted its holdings in QEP Resources by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 22,252,396 shares of the pipeline company’s stock valued at $160,884,000 after purchasing an additional 88,258 shares during the last quarter. Dimensional Fund Advisors LP increased its position in QEP Resources by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,055,887 shares of the pipeline company’s stock valued at $101,655,000 after acquiring an additional 803,139 shares in the last quarter. Oslo Asset Management AS increased its position in QEP Resources by 13.6% in the 1st quarter. Oslo Asset Management AS now owns 6,993,278 shares of the pipeline company’s stock valued at $54,478,000 after acquiring an additional 835,888 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in QEP Resources by 67.1% in the 2nd quarter. Wells Fargo & Company MN now owns 5,873,927 shares of the pipeline company’s stock valued at $42,469,000 after acquiring an additional 2,358,578 shares in the last quarter.

About QEP Resources

QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.

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