Mackenzie Financial Corp decreased its position in QEP Resources, Inc. (NYSE:QEP) by 36.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,695,000 shares of the pipeline company’s stock after selling 1,525,727 shares during the period. Mackenzie Financial Corp owned approximately 1.12% of QEP Resources worth $23,096,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. OxFORD Asset Management LLP bought a new position in QEP Resources in the 3rd quarter worth about $611,000. Dimensional Fund Advisors LP grew its position in QEP Resources by 47.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock worth $57,549,000 after purchasing an additional 2,166,476 shares during the last quarter. Legal & General Group Plc grew its position in QEP Resources by 11.5% in the 3rd quarter. Legal & General Group Plc now owns 368,973 shares of the pipeline company’s stock worth $3,162,000 after purchasing an additional 37,976 shares during the last quarter. Eagle Boston Investment Management Inc. lifted its stake in shares of QEP Resources by 98.7% in the 3rd quarter. Eagle Boston Investment Management Inc. now owns 77,607 shares of the pipeline company’s stock worth $663,000 after acquiring an additional 38,544 shares during the period. Finally, Ashburton Jersey Ltd acquired a new stake in shares of QEP Resources in the 3rd quarter worth approximately $1,206,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.
QEP has been the subject of a number of research analyst reports. BMO Capital Markets set a $11.00 price target on shares of QEP Resources and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $12.00 price target on shares of QEP Resources in a research note on Sunday, October 22nd. Stifel Nicolaus reduced their price target on shares of QEP Resources from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, September 26th. KLR Group reaffirmed a “buy” rating and issued a $14.00 price target (down from $15.00) on shares of QEP Resources in a research note on Wednesday, September 27th. Finally, Cowen set a $12.00 price target on shares of QEP Resources and gave the stock a “buy” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. QEP Resources presently has a consensus rating of “Hold” and an average target price of $14.19.
QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $393.87 million. During the same period in the prior year, the business earned ($0.21) earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. equities analysts predict that QEP Resources, Inc. will post -0.44 earnings per share for the current fiscal year.
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QEP Resources Profile
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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