Kornitzer Capital Management Inc. KS Has $1,579,000 Position in QEP Resources Inc. (QEP)
Kornitzer Capital Management Inc. KS lowered its stake in shares of QEP Resources Inc. (NYSE:QEP) by 57.3% during the second quarter, Holdings Channel reports. The institutional investor owned 89,585 shares of the company’s stock after selling 120,185 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in QEP Resources were worth $1,579,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in QEP. ClariVest Asset Management LLC acquired a new stake in QEP Resources during the second quarter worth $105,000. Meeder Asset Management Inc. raised its stake in 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 raised its stake in QEP Resources by 97.9% in the second quarter. LS Investment Advisors LLC now owns 12,856 shares of the company’s stock worth $227,000 after buying an additional 6,360 shares in the last quarter. Benin Management CORP raised its stake in QEP Resources by 36.6% in the second quarter. Benin Management CORP now owns 14,550 shares of the company’s stock worth $257,000 after buying an additional 3,900 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in QEP Resources during the first quarter worth $260,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.
QEP Resources Inc. (NYSE:QEP) traded up 1.39% on Wednesday, reaching $17.54. 4,379,049 shares of the company traded hands. The stock’s market capitalization is $4.20 billion. The stock’s 50-day moving average is $18.32 and its 200-day moving average is $17.91. QEP Resources Inc. has a 1-year low of $8.54 and a 1-year high of $20.96.
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, beating the consensus estimate 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 firm earned $333.70 million during the quarter, compared to analysts’ expectations of $362.17 million. During the same period in the previous year, the company earned $0.09 earnings per share. The firm’s quarterly revenue was down 41.9% on a year-over-year basis. Equities research analysts expect that QEP Resources Inc. will post ($1.19) EPS for the current year.
A number of research firms recently weighed in on QEP. KLR Group restated a “buy” rating and issued a $27.00 target price (up previously from $25.00) on shares of QEP Resources in a report on Thursday, June 30th. FBR & Co reaffirmed a “marketperform” rating on shares of QEP Resources in a research report on Wednesday, July 20th. Mizuho initiated coverage on shares of QEP Resources in a research report on Wednesday, October 5th. They issued a “buy” rating and a $24.00 price objective for the company. Evercore ISI initiated coverage on shares of QEP Resources in a research report on Friday, October 7th. They issued a “hold” rating and a $22.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of QEP Resources from a “hold” rating to a “sell” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. QEP Resources currently has an average 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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