Fox Run Management L.L.C. Purchases New Stake in QEP Resources Inc (QEP)

Fox Run Management L.L.C. purchased a new position in shares of QEP Resources Inc (NYSE:QEP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 40,585 shares of the pipeline company’s stock, valued at approximately $459,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Northern Trust Corp lifted its position in QEP Resources by 6.1% during the 2nd quarter. Northern Trust Corp now owns 2,022,795 shares of the pipeline company’s stock worth $24,799,000 after acquiring an additional 116,890 shares during the period. Bank of New York Mellon Corp lifted its position in QEP Resources by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,862,599 shares of the pipeline company’s stock worth $47,356,000 after acquiring an additional 35,931 shares during the period. Verition Fund Management LLC lifted its position in QEP Resources by 43.4% during the 2nd quarter. Verition Fund Management LLC now owns 243,747 shares of the pipeline company’s stock worth $2,988,000 after acquiring an additional 73,747 shares during the period. CastleArk Alternatives LLC acquired a new position in shares of QEP Resources in the 2nd quarter valued at about $113,000. Finally, Vident Investment Advisory LLC lifted its holdings in shares of QEP Resources by 1.5% in the 2nd quarter. Vident Investment Advisory LLC now owns 344,774 shares of the pipeline company’s stock valued at $4,227,000 after buying an additional 5,169 shares during the period. 99.19% of the stock is owned by institutional investors.

QEP has been the subject of several analyst reports. Williams Capital set a $15.00 price objective on QEP Resources and gave the company a “buy” rating in a report on Monday, August 20th. ValuEngine cut QEP Resources from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Oppenheimer initiated coverage on QEP Resources in a report on Wednesday, October 3rd. They issued an “outperform” rating and a $15.00 price objective for the company. KLR Group reissued a “buy” rating and issued a $14.00 price objective on shares of QEP Resources in a report on Monday, August 20th. Finally, Credit Suisse Group decreased their price objective on QEP Resources from $12.00 to $11.00 and set an “underperform” rating for the company in a report on Thursday, July 26th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $13.20.

NYSE QEP opened at $11.60 on Tuesday. The stock has a market capitalization of $2.68 billion, a P/E ratio of 14.91 and a beta of 1.29. QEP Resources Inc has a twelve month low of $7.04 and a twelve month high of $13.77. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.79.

QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, July 25th. The pipeline company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.18. The company had revenue of $532.40 million during the quarter, compared to analysts’ expectations of $434.12 million. QEP Resources had a positive return on equity of 5.96% and a negative net margin of 13.63%. QEP Resources’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.12) EPS. As a group, equities research analysts expect that QEP Resources Inc will post -0.12 EPS for the current year.

About QEP Resources

QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.

Recommended Story: Asset Allocation Models, Which is Right For You?

Institutional Ownership by Quarter for QEP Resources (NYSE:QEP)

Receive News & Ratings for QEP Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QEP Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply