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).

5 Day Chart for NYSE:QEP

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