Utah Retirement Systems Purchases 200 Shares of QEP Resources, Inc. (QEP)
Utah Retirement Systems lifted its position in shares of QEP Resources, Inc. (NYSE:QEP) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,794 shares of the pipeline company’s stock after purchasing an additional 200 shares during the quarter. Utah Retirement Systems’ holdings in QEP Resources were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in QEP. Pitcairn Co. grew its holdings in shares of QEP Resources by 4.3% during the 2nd quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after purchasing an additional 563 shares in the last quarter. Suntrust Banks Inc. grew its holdings in shares of QEP Resources by 5.4% during the 1st quarter. Suntrust Banks Inc. now owns 12,788 shares of the pipeline company’s stock worth $161,000 after purchasing an additional 651 shares in the last quarter. Parkwood LLC acquired a new stake in shares of QEP Resources during the 2nd quarter worth approximately $191,000. LS Investment Advisors LLC grew its holdings in shares of QEP Resources by 21.1% during the 2nd quarter. LS Investment Advisors LLC now owns 19,064 shares of the pipeline company’s stock worth $193,000 after purchasing an additional 3,316 shares in the last quarter. Finally, Capstone Asset Management Co. grew its holdings in shares of QEP Resources by 1.7% during the 2nd quarter. Capstone Asset Management Co. now owns 19,267 shares of the pipeline company’s stock worth $195,000 after purchasing an additional 320 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.
QEP Resources, Inc. (NYSE:QEP) opened at 7.96 on Friday. The company’s market cap is $1.91 billion. QEP Resources, Inc. has a 12 month low of $7.02 and a 12 month high of $21.12. The firm has a 50-day moving average price of $7.57 and a 200 day moving average price of $10.20.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.08. The firm had revenue of $383.70 million for the quarter, compared to the consensus estimate of $413.27 million. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.23) EPS. On average, equities analysts expect that QEP Resources, Inc. will post ($0.60) earnings per share for the current year.
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QEP has been the topic of several recent research reports. Cowen and Company set a $12.00 price objective on QEP Resources and gave the stock a “buy” rating in a report on Friday, August 25th. Deutsche Bank AG lowered QEP Resources from a “buy” rating to a “hold” rating and decreased their price target for the company from $18.00 to $13.00 in a research note on Tuesday, July 18th. Barclays PLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of QEP Resources in a research note on Friday, July 7th. Credit Suisse Group began coverage on QEP Resources in a research note on Thursday, June 1st. They issued a “neutral” rating and a $15.00 price target on the stock. Finally, Wolfe Research began coverage on QEP Resources in a research note on Thursday, June 15th. They issued a “market perform” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $16.53.
In other QEP Resources news, CFO Richard J. Doleshek bought 12,500 shares of QEP Resources stock in a transaction on Friday, July 28th. The shares were purchased at an average price of $7.91 per share, with a total value of $98,875.00. Following the acquisition, the chief financial officer now owns 304,539 shares in the company, valued at approximately $2,408,903.49. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David A. Trice bought 25,000 shares of QEP Resources stock in a transaction on Thursday, August 17th. The stock was acquired at an average cost of $7.20 per share, for a total transaction of $180,000.00. Following the acquisition, the director now owns 40,000 shares in the company, valued at approximately $288,000. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 42,500 shares of company stock worth $321,325. Company insiders own 1.36% of the company’s stock.
About QEP Resources
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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