QEP Resources Inc (NYSE:QEP) Director Buys $52,500.00 in Stock

QEP Resources Inc (NYSE:QEP) Director David A. Trice bought 15,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were acquired at an average price of $3.50 per share, for a total transaction of $52,500.00. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $297,500. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

NYSE QEP traded down $0.19 during mid-day trading on Friday, hitting $3.79. The stock had a trading volume of 3,170,595 shares, compared to its average volume of 4,952,133. The firm’s 50 day moving average is $4.22 and its 200 day moving average is $6.59. QEP Resources Inc has a twelve month low of $3.34 and a twelve month high of $12.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $946.89 million, a price-to-earnings ratio of 26.53 and a beta of 1.97.

QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.07). QEP Resources had a negative net margin of 44.56% and a positive return on equity of 1.29%. The firm had revenue of $296.20 million during the quarter, compared to analyst estimates of $293.93 million. During the same period in the prior year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was down 44.4% compared to the same quarter last year. As a group, equities research analysts expect that QEP Resources Inc will post 0.3 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Monday, August 19th. QEP Resources’s dividend payout ratio is currently -47.06%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC increased its stake in shares of QEP Resources by 4,106.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,602,946 shares of the pipeline company’s stock worth $11,590,000 after acquiring an additional 1,564,839 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of QEP Resources by 15.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 202,243 shares of the pipeline company’s stock worth $1,462,000 after acquiring an additional 27,024 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of QEP Resources in the 2nd quarter worth $606,000. Bluefin Trading LLC acquired a new stake in shares of QEP Resources in the 2nd quarter worth $92,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of QEP Resources by 17.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 376,458 shares of the pipeline company’s stock worth $2,722,000 after acquiring an additional 56,861 shares during the last quarter.

A number of brokerages have recently issued reports on QEP. ValuEngine upgraded QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Piper Jaffray Companies set a $5.00 target price on QEP Resources and gave the company a “hold” rating in a research report on Friday, August 16th. Oppenheimer downgraded QEP Resources from an “outperform” rating to a “market perform” rating and set a $7.25 price objective for the company. in a research note on Tuesday, July 9th. Tudor Pickering downgraded QEP Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Finally, Williams Capital reissued a “hold” rating and issued a $5.00 price objective on shares of QEP Resources in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. QEP Resources currently has an average rating of “Hold” and a consensus target price of $9.30.

QEP Resources Company 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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