Chicago Equity Partners LLC Takes Position in QEP Resources, Inc. (QEP)
Chicago Equity Partners LLC bought a new position in shares of QEP Resources, Inc. (NYSE:QEP) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 165,870 shares of the pipeline company’s stock, valued at approximately $1,422,000. Chicago Equity Partners LLC owned about 0.07% of QEP Resources at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Commerce Bank bought a new position in QEP Resources during the second quarter worth about $102,000. Pitcairn Co. boosted its holdings in QEP Resources by 4.3% during the second quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after buying an additional 563 shares during the last quarter. Suntrust Banks Inc. boosted its holdings in QEP Resources by 5.8% during the second quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after buying an additional 748 shares during the last quarter. Parkwood LLC bought a new position in QEP Resources during the second quarter worth about $191,000. Finally, LS Investment Advisors LLC boosted its holdings in QEP Resources by 21.1% during the second quarter. LS Investment Advisors LLC now owns 19,064 shares of the pipeline company’s stock worth $193,000 after buying an additional 3,316 shares during the last quarter. Hedge funds and other institutional investors own 89.49% of the company’s stock.
Several research firms have recently weighed in on QEP. Barclays PLC lifted their price objective on QEP Resources from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. Cowen and Company set a $12.00 price objective on QEP Resources and gave the company a “buy” rating in a report on Wednesday, July 19th. National Securities began coverage on QEP Resources in a report on Monday, July 31st. They set a “buy” rating and a $11.00 price objective on the stock. KLR Group reiterated a “buy” rating and set a $14.00 price objective (down previously from $15.00) on shares of QEP Resources in a report on Wednesday, September 27th. Finally, BMO Capital Markets set a $11.00 price objective on QEP Resources and gave the company a “buy” rating in a report on Tuesday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $14.19.
Shares of QEP Resources, Inc. (QEP) opened at $9.05 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.52. QEP Resources, Inc. has a 12 month low of $7.02 and a 12 month high of $21.12.
QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.11. The firm had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $393.87 million. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.21) EPS. analysts predict that QEP Resources, Inc. will post -0.46 EPS for the current year.
In related news, Director David A. Trice purchased 25,000 shares of the stock in a transaction on Thursday, August 17th. The shares were purchased at an average price of $7.20 per share, with a total value of $180,000.00. Following the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $288,000. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.36% of the stock is owned by insiders.
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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