New York State Teachers Retirement System reduced its position in shares of QEP Resources, Inc. (NYSE:QEP) by 4.5% during the first quarter, Holdings Channel reports. The institutional investor owned 349,565 shares of the pipeline company’s stock after selling 16,300 shares during the period. New York State Teachers Retirement System’s holdings in QEP Resources were worth $4,443,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Benin Management CORP boosted its stake in QEP Resources by 48.6% in the first quarter. Benin Management CORP now owns 43,100 shares of the pipeline company’s stock worth $548,000 after buying an additional 14,100 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in QEP Resources by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 60,500 shares of the pipeline company’s stock worth $769,000 after buying an additional 1,300 shares during the last quarter. Viking Fund Management LLC acquired a new stake in QEP Resources during the first quarter worth $5,465,000. Capstone Asset Management Co. boosted its stake in QEP Resources by 3.9% in the first quarter. Capstone Asset Management Co. now owns 18,947 shares of the pipeline company’s stock worth $241,000 after buying an additional 710 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its stake in QEP Resources by 7.4% in the first quarter. Peregrine Capital Management LLC now owns 854,227 shares of the pipeline company’s stock worth $11,037,000 after buying an additional 58,658 shares during the last quarter. Institutional investors and hedge funds own 92.24% of the company’s stock.
Shares of QEP Resources, Inc. (QEP) opened at 8.99 on Monday. The firm’s market cap is $2.16 billion. QEP Resources, Inc. has a 12 month low of $8.58 and a 12 month high of $21.12. The firm’s 50-day moving average price is $10.20 and its 200-day moving average price is $13.87.
QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, April 26th. The pipeline company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07. The company had revenue of $420.10 million for the quarter, compared to analyst estimates of $402.16 million. QEP Resources had a negative return on equity of 4.78% and a negative net margin of 19.81%. The business’s quarterly revenue was up 60.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.53) earnings per share. Analysts expect that QEP Resources, Inc. will post ($0.70) earnings per share for the current year.
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QEP has been the subject of a number of recent analyst reports. KLR Group raised their price objective on QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. FBR & Co set a $20.00 price objective on QEP Resources and gave the stock a “buy” rating in a research report on Saturday, April 15th. Stifel Nicolaus initiated coverage on QEP Resources in a research report on Wednesday, April 12th. They issued a “buy” rating and a $21.00 price objective for the company. Barclays PLC reissued a “buy” rating and issued a $10.00 price objective on shares of QEP Resources in a research report on Friday. Finally, BMO Capital Markets reissued a “buy” rating and issued a $11.00 price objective on shares of QEP Resources in a research report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $18.82.
About QEP Resources
QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.
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