GSA Capital Partners LLP Takes Position in QEP Resources Inc. (QEP)
GSA Capital Partners LLP purchased a new stake in QEP Resources Inc. (NYSE:QEP) during the second quarter, Holdings Channel reports. The fund purchased 21,948 shares of the company’s stock, valued at approximately $387,000.
Several other hedge funds and other institutional investors have also modified their holdings of QEP. IBM Retirement Fund boosted its position in shares of QEP Resources by 1.0% in the second quarter. IBM Retirement Fund now owns 21,811 shares of the company’s stock valued at $385,000 after buying an additional 207 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of QEP Resources by 9.4% in the second quarter. Suntrust Banks Inc. now owns 13,533 shares of the company’s stock valued at $237,000 after buying an additional 1,167 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of QEP Resources by 8.6% in the second quarter. Capstone Asset Management Co. now owns 15,027 shares of the company’s stock valued at $265,000 after buying an additional 1,190 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its position in shares of QEP Resources by 2.8% in the second quarter. Public Employees Retirement Association of Colorado now owns 47,047 shares of the company’s stock valued at $829,000 after buying an additional 1,261 shares in the last quarter. Finally, World Asset Management Inc boosted its position in shares of QEP Resources by 11.0% in the second quarter. World Asset Management Inc now owns 13,204 shares of the company’s stock valued at $233,000 after buying an additional 1,313 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.
QEP Resources Inc. (NYSE:QEP) traded up 3.54% during mid-day trading on Thursday, hitting $18.71. 5,629,062 shares of the stock were exchanged. QEP Resources Inc. has a 52-week low of $8.54 and a 52-week high of $20.96. The stock’s market cap is $4.48 billion. The stock’s 50 day moving average is $18.92 and its 200 day moving average is $17.15.
QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.12. The firm had revenue of $333.70 million for the quarter, compared to analyst estimates of $362.17 million. QEP Resources had a negative net margin of 67.39% and a negative return on equity of 4.04%. The business’s quarterly revenue was down 41.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. Analysts forecast that QEP Resources Inc. will post ($1.19) EPS for the current fiscal year.
Several research analysts have recently weighed in on the stock. FBR & Co assumed coverage on shares of QEP Resources in a research note on Thursday, July 21st. They set a “market perform” rating and a $19.00 price target on the stock. Simmons upgraded shares of QEP Resources from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $20.00 to $24.00 in a research note on Wednesday, June 15th. Zacks Investment Research upgraded shares of QEP Resources from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research note on Wednesday, June 29th. Drexel Hamilton reiterated a “buy” rating and set a $33.00 price target on shares of QEP Resources in a research note on Wednesday, June 22nd. Finally, BMO Capital Markets upgraded shares of QEP Resources from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $18.00 to $24.00 in a research note on Monday, July 18th. They noted that the move was a valuation call. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.14.
In other news, CEO Charles B. Stanley purchased 16,763 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were purchased at an average cost of $17.85 per share, with a total value of $299,219.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.36% of the stock is currently owned by insiders.
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).
Want to see what other hedge funds are holding QEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QEP Resources Inc. (NYSE:QEP).
Receive News & Ratings for QEP Resources Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QEP Resources Inc. and related companies with MarketBeat.com's FREE daily email newsletter.