Capital Fund Management S.A. bought a new stake in shares of QEP Resources Inc. (NYSE:QEP) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 237,518 shares of the company’s stock, valued at approximately $4,187,000.
Several other hedge funds have also made changes to their positions in QEP. Wellington Management Group LLP boosted its stake in shares of QEP Resources by 33.9% in the first quarter. Wellington Management Group LLP now owns 27,715,828 shares of the company’s stock valued at $391,071,000 after buying an additional 7,013,529 shares in the last quarter. Norges Bank acquired a new stake in shares of QEP Resources during the fourth quarter valued at about $34,055,000. Renaissance Technologies LLC boosted its stake in shares of QEP Resources by 314.5% in the first quarter. Renaissance Technologies LLC now owns 2,436,700 shares of the company’s stock valued at $34,382,000 after buying an additional 1,848,900 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of QEP Resources by 13,455.1% in the second quarter. Acadian Asset Management LLC now owns 1,823,566 shares of the company’s stock valued at $32,152,000 after buying an additional 1,810,113 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in shares of QEP Resources by 18.2% in the first quarter. BlackRock Fund Advisors now owns 6,982,556 shares of the company’s stock valued at $98,524,000 after buying an additional 1,077,086 shares in the last quarter. Hedge funds and other institutional investors own 87.51% of the company’s stock.
QEP Resources Inc. (NYSE:QEP) traded down 2.71% during trading on Monday, hitting $19.00. 4,047,211 shares of the stock were exchanged. QEP Resources Inc. has a 12 month low of $8.54 and a 12 month high of $20.96. The stock’s 50 day moving average price is $18.89 and its 200 day moving average price is $17.57. The stock’s market cap is $4.55 billion.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.12. QEP Resources had a negative net margin of 67.39% and a negative return on equity of 4.04%. The company had revenue of $333.70 million for the quarter, compared to the consensus estimate of $362.17 million. During the same period in the previous year, the firm earned $0.09 earnings per share. QEP Resources’s quarterly revenue was down 41.9% compared to the same quarter last year. Analysts forecast that QEP Resources Inc. will post ($1.19) EPS for the current fiscal year.
Several analysts have recently issued reports on QEP shares. Wells Fargo & Co. restated a “market perform” rating on shares of QEP Resources in a research report on Wednesday, July 6th. BMO Capital Markets upgraded shares of QEP Resources from a “market perform” rating to an “outperform” rating and upped their price target for the company from $18.00 to $24.00 in a report on Monday, July 18th. They noted that the move was a valuation call. FBR & Co initiated coverage on shares of QEP Resources in a report on Thursday, July 21st. They set a “market perform” rating and a $19.00 price target on the stock. KLR Group reiterated a “buy” rating and set a $32.00 price target (up from $31.00) on shares of QEP Resources in a report on Tuesday, August 2nd. Finally, Drexel Hamilton initiated coverage on shares of QEP Resources in a report on Tuesday, June 7th. They set a “buy” rating and a $33.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. QEP Resources has an average rating of “Buy” and a consensus price target of $22.14.
About QEP Resources
QEP Resources, Inc (QEP) is a holding company with two subsidiaries, QEP Energy Company and QEP Marketing Company, which are engaged in two primary lines of business: oil and gas exploration and production (QEP Energy), and oil and gas marketing, operation of a gas gathering system and an underground gas storage facility, and corporate activities (QEP Marketing and Other).
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