Gallagher Fiduciary Advisors LLC Sells 32,448 Shares of QEP Resources, Inc. (QEP)
Gallagher Fiduciary Advisors LLC decreased its position in shares of QEP Resources, Inc. (NYSE:QEP) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 955,148 shares of the pipeline company’s stock after selling 32,448 shares during the period. QEP Resources accounts for about 4.1% of Gallagher Fiduciary Advisors LLC’s holdings, making the stock its 5th largest position. Gallagher Fiduciary Advisors LLC’s holdings in QEP Resources were worth $9,647,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Commerce Bank acquired a new stake in shares of QEP Resources during the second quarter worth about $102,000. Suntrust Banks Inc. increased its position in QEP Resources by 5.4% in the first quarter. Suntrust Banks Inc. now owns 12,788 shares of the pipeline company’s stock worth $161,000 after buying an additional 651 shares during the period. Pitcairn Co. increased its position in QEP Resources by 1.9% in the first quarter. Pitcairn Co. now owns 12,949 shares of the pipeline company’s stock worth $164,000 after buying an additional 239 shares during the period. Flinton Capital Management LLC increased its position in QEP Resources by 4.4% in the first quarter. Flinton Capital Management LLC now owns 13,040 shares of the pipeline company’s stock worth $166,000 after buying an additional 544 shares during the period. Finally, Meadow Creek Investment Management LLC increased its position in QEP Resources by 4.4% in the first quarter. Meadow Creek Investment Management LLC now owns 17,930 shares of the pipeline company’s stock worth $228,000 after buying an additional 748 shares during the period. 91.91% of the stock is currently owned by institutional investors and hedge funds.
QEP Resources, Inc. (NYSE:QEP) traded down 0.55% on Wednesday, reaching $7.25. The company had a trading volume of 202,756 shares. The company has a 50-day moving average of $8.76 and a 200 day moving average of $11.57. The stock’s market cap is $1.74 billion. QEP Resources, Inc. has a one year low of $7.12 and a one year high of $21.12.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.08. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The business had revenue of $383.70 million during the quarter, compared to analysts’ expectations of $413.27 million. During the same period in the prior year, the firm posted ($0.23) EPS. QEP Resources’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts predict that QEP Resources, Inc. will post ($0.62) EPS for the current year.
A number of equities analysts have recently commented on QEP shares. Credit Suisse Group started coverage on QEP Resources in a report on Thursday, June 1st. They issued a “neutral” rating and a $15.00 price objective on the stock. KLR Group raised their target price on QEP Resources from $22.00 to $23.00 and gave the company a “buy” rating in a report on Friday, April 28th. Wolfe Research initiated coverage on QEP Resources in a report on Thursday, June 15th. They set a “market perform” rating on the stock. Barclays PLC reiterated an “overweight” rating and set a $16.00 target price (down from $20.00) on shares of QEP Resources in a report on Saturday, April 22nd. Finally, BidaskClub downgraded QEP Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $16.53.
In other QEP Resources news, Director Julie Dill purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average cost of $8.49 per share, for a total transaction of $42,450.00. Following the transaction, the director now directly owns 5,525 shares in the company, valued at $46,907.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard J. Doleshek purchased 12,500 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average price of $7.91 per share, for a total transaction of $98,875.00. Following the completion of the transaction, the chief financial officer now owns 304,539 shares in the company, valued at $2,408,903.49. The disclosure for this purchase can be found here. Corporate insiders own 1.36% of the company’s stock.
QEP Resources Company Profile
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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