Dynamic Technology Lab Private Ltd bought a new stake in shares of QEP Resources, Inc. (NYSE:QEP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 21,898 shares of the pipeline company’s stock, valued at approximately $221,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealthsource Partners LLC increased its holdings in shares of QEP Resources by 0.5% in the second quarter. Wealthsource Partners LLC now owns 24,712 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 123 shares during the period. Schneider Capital Management Corp grew its holdings in QEP Resources by 328.9% during the second quarter. Schneider Capital Management Corp now owns 527,898 shares of the pipeline company’s stock worth $5,332,000 after acquiring an additional 404,820 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in QEP Resources by 18.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 114,013 shares of the pipeline company’s stock worth $1,152,000 after acquiring an additional 17,642 shares during the period. The Manufacturers Life Insurance Company grew its holdings in QEP Resources by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 353,520 shares of the pipeline company’s stock worth $3,570,000 after acquiring an additional 7,680 shares during the period. Finally, BlueCrest Capital Management Ltd acquired a new stake in QEP Resources during the second quarter worth about $963,000. 93.75% of the stock is currently owned by hedge funds and other institutional investors.
QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.11. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The business had revenue of $390.10 million for the quarter, compared to the consensus estimate of $393.87 million. During the same period last year, the company earned ($0.21) EPS. The firm’s revenue was up 2.0% compared to the same quarter last year.
In other QEP Resources news, Director David A. Trice purchased 25,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $7.20 per share, for a total transaction of $180,000.00. Following the purchase, the director now owns 40,000 shares of the company’s stock, valued at approximately $288,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.36% of the company’s stock.
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Several equities analysts have recently weighed in on the company. Deutsche Bank AG downgraded QEP Resources from a “buy” rating to a “hold” rating and decreased their target price for the company from $18.00 to $13.00 in a research report on Tuesday, July 18th. BidaskClub cut QEP Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Cowen and Company set a $12.00 price target on QEP Resources and gave the company a “buy” rating in a report on Wednesday, July 19th. Barclays PLC reissued a “buy” rating and set a $10.00 target price on shares of QEP Resources in a research note on Friday, July 7th. Finally, BMO Capital Markets set a $11.00 price objective on QEP Resources and gave the company a “buy” rating in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. QEP Resources has an average rating of “Hold” and an average price target of $14.40.
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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