LMR Partners LLP Has $640,000 Stake in QEP Resources Inc. (QEP)
LMR Partners LLP reduced its position in QEP Resources Inc. (NYSE:QEP) by 54.7% during the second quarter, Holdings Channel reports. The institutional investor owned 36,352 shares of the company’s stock after selling 43,828 shares during the period. LMR Partners LLP’s holdings in QEP Resources were worth $640,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of QEP Resources by 461.3% in the second quarter. Meeder Asset Management Inc. now owns 12,428 shares of the company’s stock worth $220,000 after buying an additional 10,214 shares in the last quarter. LS Investment Advisors LLC boosted its stake in shares of QEP Resources by 97.9% in the second quarter. LS Investment Advisors LLC now owns 12,856 shares of the company’s stock valued at $227,000 after buying an additional 6,360 shares during the last quarter. Benin Management CORP boosted its stake in shares of QEP Resources by 36.6% in the second quarter. Benin Management CORP now owns 14,550 shares of the company’s stock valued at $257,000 after buying an additional 3,900 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of QEP Resources during the first quarter valued at $260,000. Finally, Capstone Asset Management Co. boosted its stake 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 during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.
QEP Resources Inc. (NYSE:QEP) traded down 0.86% during mid-day trading on Tuesday, hitting $18.37. 2,275,870 shares of the stock were exchanged. The firm’s market cap is $4.40 billion. QEP Resources Inc. has a 52-week low of $8.54 and a 52-week high of $20.96. The company has a 50 day moving average price of $18.67 and a 200 day moving average price of $17.76.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.12. The firm earned $333.70 million during the quarter, compared to analysts’ expectations 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 previous year, the business posted $0.09 earnings per share. On average, analysts anticipate that QEP Resources Inc. will post ($1.19) EPS for the current year.
Several brokerages have recently weighed in on QEP. Zacks Investment Research raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Wednesday, June 29th. Barclays PLC raised shares of QEP Resources from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $17.00 to $22.00 in a research report on Wednesday, August 3rd. Drexel Hamilton reaffirmed a “buy” rating and issued a $33.00 price target on shares of QEP Resources in a research report on Wednesday, June 22nd. Simmons raised shares of QEP Resources from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $20.00 to $24.00 in a research report on Wednesday, June 15th. Finally, Deutsche Bank AG upped their price target on shares of QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. QEP Resources currently has a consensus rating of “Buy” and a consensus price target of $22.38.
QEP Resources Company Profile
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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