Thrivent Financial for Lutherans increased its position in shares of QEP Resources Inc (NYSE:QEP) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,060 shares of the company’s stock after buying an additional 3,340 shares during the period. Thrivent Financial for Lutherans’ holdings in QEP Resources were worth $756,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. increased its stake in shares of QEP Resources by 8,263.0% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 6,774 shares of the company’s stock worth $132,000 after buying an additional 6,693 shares during the period. Advisors Asset Management Inc. increased its stake in shares of QEP Resources by 41.9% in the third quarter. Advisors Asset Management Inc. now owns 7,097 shares of the company’s stock worth $139,000 after buying an additional 2,097 shares during the period. ClariVest Asset Management LLC increased its stake in shares of QEP Resources by 63.1% in the third quarter. ClariVest Asset Management LLC now owns 9,672 shares of the company’s stock worth $189,000 after buying an additional 3,743 shares during the period. Sciencast Management LP bought a new stake in shares of QEP Resources during the fourth quarter worth $191,000. Finally, Raymond James Trust N.A. bought a new stake in shares of QEP Resources during the third quarter worth $204,000. 90.76% of the stock is owned by hedge funds and other institutional investors.
Shares of QEP Resources Inc (NYSE:QEP) opened at 12.16 on Tuesday. The stock’s 50 day moving average is $14.54 and its 200 day moving average is $17.20. The firm’s market cap is $2.91 billion. QEP Resources Inc has a 12 month low of $11.69 and a 12 month high of $21.12.
QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, February 22nd. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. The firm earned $399.70 million during the quarter, compared to analysts’ expectations of $395.90 million. QEP Resources had a negative net margin of 79.57% and a negative return on equity of 5.55%. The business’s revenue for the quarter was down 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Analysts forecast that QEP Resources Inc will post ($0.70) EPS for the current fiscal year.
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A number of brokerages have weighed in on QEP. Scotiabank raised shares of QEP Resources from an “outperform” rating to a “focus stock” rating and increased their price target for the company from $31.00 to $33.00 in a report on Thursday, January 12th. Deutsche Bank AG reduced their price objective on shares of QEP Resources from $22.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, March 7th. Wells Fargo & Co raised shares of QEP Resources from a “market perform” rating to an “outperform” rating in a report on Friday, February 10th. FBR & Co raised shares of QEP Resources from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $20.00 to $24.00 in a report on Tuesday, January 3rd. Finally, Mizuho downgraded shares of QEP Resources from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a report on Tuesday, March 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $23.57.
In related news, Director Phillips S. Baker, Jr. bought 7,000 shares of the company’s stock in a transaction dated Friday, February 24th. The stock was purchased at an average price of $14.21 per share, with a total value of $99,470.00. Following the completion of the acquisition, the director now owns 21,897 shares of the company’s stock, valued at $311,156.37. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.36% of the stock is currently owned by corporate insiders.
About QEP Resources
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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