Mercer Global Advisors Inc. ADV Takes $760,000 Position in QEP Resources Inc (QEP)

Mercer Global Advisors Inc. ADV acquired a new position in shares of QEP Resources Inc (NYSE:QEP) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 134,952 shares of the pipeline company’s stock, valued at approximately $760,000.

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

Several research analysts have recently commented on QEP shares. ValuEngine raised QEP Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Raymond James set a $12.00 price objective on QEP Resources and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Capital One Financial lowered QEP Resources from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. Zacks Investment Research reissued a “hold” rating on shares of QEP Resources in a report on Monday, December 31st. Finally, Wells Fargo & Co reissued a “hold” rating on shares of QEP Resources in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.67.

NYSE:QEP opened at $8.21 on Thursday. The company has a market capitalization of $1.92 billion, a P/E ratio of -48.29 and a beta of 2.14. QEP Resources Inc has a 1-year low of $5.00 and a 1-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 earnings results on Wednesday, February 20th. The pipeline company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.15). The firm had revenue of $410.50 million during 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 business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. On average, equities analysts forecast that QEP Resources Inc will post 0.33 EPS for the current fiscal year.

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About QEP Resources

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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