Walthausen & Co. LLC Lowers Stock Holdings in QEP Resources Inc (NYSE:QEP)

Walthausen & Co. LLC reduced its stake in QEP Resources Inc (NYSE:QEP) by 46.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 478,660 shares of the pipeline company’s stock after selling 423,370 shares during the quarter. Walthausen & Co. LLC owned 0.20% of QEP Resources worth $2,154,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Aristeia Capital LLC grew its stake in shares of QEP Resources by 127.0% in the 4th quarter. Aristeia Capital LLC now owns 388,100 shares of the pipeline company’s stock valued at $1,746,000 after purchasing an additional 217,100 shares during the last quarter. Man Group plc purchased a new position in shares of QEP Resources in the 4th quarter valued at approximately $8,999,000. Caxton Associates LP purchased a new position in shares of QEP Resources in the 4th quarter valued at approximately $59,000. Cubist Systematic Strategies LLC grew its stake in shares of QEP Resources by 2,409.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 59,341 shares of the pipeline company’s stock valued at $267,000 after purchasing an additional 56,976 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of QEP Resources by 304.8% in the 4th quarter. Jane Street Group LLC now owns 261,345 shares of the pipeline company’s stock valued at $1,176,000 after purchasing an additional 196,789 shares during the last quarter.

Several research analysts have weighed in on QEP shares. Siebert Williams Shank downgraded QEP Resources from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Credit Suisse Group reiterated a “neutral” rating and issued a $1.00 target price on shares of QEP Resources in a research note on Thursday, March 19th. Raymond James downgraded QEP Resources to a “sell” rating in a research note on Tuesday, March 17th. Stephens downgraded QEP Resources from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $5.00 to $1.00 in a research note on Friday, March 20th. Finally, Piper Sandler cut QEP Resources from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $5.23.

In other news, Director Joseph N. Jaggers acquired 23,500 shares of QEP Resources stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $2.16 per share, with a total value of $50,760.00. Following the completion of the acquisition, the director now owns 39,924 shares in the company, valued at approximately $86,235.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Cutt acquired 23,364 shares of QEP Resources stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $2.19 per share, with a total value of $51,167.16. Following the completion of the acquisition, the chief executive officer now owns 252,141 shares of the company’s stock, valued at approximately $552,188.79. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 96,864 shares of company stock valued at $207,427. 1.71% of the stock is currently owned by insiders.

Shares of QEP traded down $0.03 during mid-day trading on Thursday, hitting $0.40. The company’s stock had a trading volume of 6,285,819 shares, compared to its average volume of 9,261,793. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a 50-day simple moving average of $1.81 and a 200 day simple moving average of $3.20. The firm has a market capitalization of $102.22 million, a P/E ratio of -0.97 and a beta of 2.32. QEP Resources Inc has a 1-year low of $0.38 and a 1-year high of $8.47.

QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, February 26th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.18). The firm had revenue of $321.90 million for the quarter, compared to analyst estimates of $329.18 million. QEP Resources had a positive return on equity of 0.44% and a negative net margin of 8.07%. As a group, sell-side analysts predict that QEP Resources Inc will post 0.36 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, March 5th. This represents a $0.08 annualized dividend and a yield of 20.02%.

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.

Read More: What is the significance of a dead cat bounce?

Want to see what other hedge funds are holding QEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QEP Resources Inc (NYSE:QEP).

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.