QEP Resources Inc (NYSE:QEP) Director David A. Trice Purchases 10,000 Shares of Stock
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.
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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