Point72 Asset Management L.P. reduced its holdings in QEP Resources, Inc. (NYSE:QEP) by 78.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,300 shares of the pipeline company’s stock after selling 479,000 shares during the period. Point72 Asset Management L.P. owned approximately 0.06% of QEP Resources worth $1,142,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Caxton Associates LP purchased a new position in shares of QEP Resources in the 3rd quarter worth $330,000. Jane Street Group LLC purchased a new position in shares of QEP Resources in the 3rd quarter worth $539,000. Cornerstone Capital Management Holdings LLC. grew its stake in shares of QEP Resources by 32.4% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 110,642 shares of the pipeline company’s stock worth $947,000 after buying an additional 27,072 shares in the last quarter. PEAK6 Investments L.P. grew its stake in shares of QEP Resources by 167.1% in the 3rd quarter. PEAK6 Investments L.P. now owns 49,468 shares of the pipeline company’s stock worth $424,000 after buying an additional 123,194 shares in the last quarter. Finally, Southport Management L.L.C. purchased a new position in shares of QEP Resources in the 3rd quarter worth $171,000. 93.12% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on the stock. Barclays lifted their price objective on shares of QEP Resources from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. KLR Group reissued a “buy” rating and issued a $14.00 price objective (down from $15.00) on shares of QEP Resources in a research note on Wednesday, September 27th. BMO Capital Markets set a $11.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a research note on Tuesday, October 10th. ValuEngine raised shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research note on Monday, October 2nd. Finally, Stifel Nicolaus dropped 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. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $13.76.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $390.10 million during the quarter, compared to analyst estimates of $393.87 million. During the same quarter last year, the business posted ($0.21) EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. analysts expect that QEP Resources, Inc. will post -0.44 earnings per share for the current fiscal year.
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QEP Resources Company 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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