Public Employees Retirement System of Ohio Lowers Position in QEP Resources Inc (QEP)

Public Employees Retirement System of Ohio trimmed its position in shares of QEP Resources Inc (NYSE:QEP) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,704 shares of the pipeline company’s stock after selling 8,610 shares during the period. Public Employees Retirement System of Ohio’s holdings in QEP Resources were worth $488,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of QEP. Vanguard Group Inc. grew its stake in shares of QEP Resources by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 21,420,121 shares of the pipeline company’s stock valued at $242,475,000 after purchasing an additional 254,888 shares during the period. Vanguard Group Inc grew its stake in shares of QEP Resources by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 21,420,121 shares of the pipeline company’s stock valued at $242,475,000 after purchasing an additional 254,888 shares during the period. BlackRock Inc. grew its stake in shares of QEP Resources by 3.5% in the 4th quarter. BlackRock Inc. now owns 21,413,968 shares of the pipeline company’s stock valued at $120,561,000 after purchasing an additional 727,179 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of QEP Resources by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,055,887 shares of the pipeline company’s stock valued at $101,655,000 after purchasing an additional 803,139 shares during the period. Finally, Oslo Asset Management AS grew its stake in shares of QEP Resources by 74.6% in the 4th quarter. Oslo Asset Management AS now owns 6,157,390 shares of the pipeline company’s stock valued at $34,666,000 after purchasing an additional 2,630,852 shares during the period. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Several equities research analysts have recently weighed in on QEP shares. Raymond James set a $12.00 price objective on QEP Resources and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Zacks Investment Research upgraded QEP Resources from a “hold” rating to a “buy” rating and set a $9.75 price objective on the stock in a research note on Thursday, January 17th. Capital One Financial lowered QEP Resources from an “overweight” rating to an “equal weight” rating in a research note on Thursday, December 20th. ValuEngine upgraded QEP Resources from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of QEP Resources in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $12.62.

NYSE QEP opened at $8.06 on Tuesday. QEP Resources Inc has a one year low of $5.00 and a one year high of $13.77. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.91.

QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, February 20th. The pipeline company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.15). The business had revenue of $410.50 million for the quarter, compared to the consensus estimate of $434.58 million. QEP Resources had a negative return on equity of 0.73% and a negative net margin of 52.34%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.13 earnings per share. On average, sell-side analysts expect that QEP Resources Inc will post 0.33 earnings per share for the current year.

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QEP Resources Profile

QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.

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

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