Monarch Partners Asset Management LLC purchased a new stake in shares of QEP Resources Inc. (NYSE:QEP) during the second quarter, Holdings Channel reports. The institutional investor purchased 603,890 shares of the company’s stock, valued at approximately $10,647,000.
A number of other large investors have also made changes to their positions in QEP. Meeder Asset Management Inc. increased its stake in shares of QEP Resources by 461.3% in the second quarter. Meeder Asset Management Inc. now owns 12,428 shares of the company’s stock valued at $220,000 after buying an additional 10,214 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of QEP Resources by 97.9% in the second quarter. LS Investment Advisors LLC now owns 12,856 shares of the company’s stock valued at $227,000 after buying an additional 6,360 shares in the last quarter. Benin Management CORP increased its stake in shares of QEP Resources by 36.6% in the second quarter. Benin Management CORP now owns 14,550 shares of the company’s stock valued at $257,000 after buying an additional 3,900 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of QEP Resources during the first quarter valued at about $260,000. Finally, Capstone Asset Management Co. increased its stake in shares of QEP Resources by 8.6% in the second quarter. Capstone Asset Management Co. now owns 15,027 shares of the company’s stock valued at $265,000 after buying an additional 1,190 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.
QEP Resources Inc. (NYSE:QEP) traded down 2.71% on Monday, reaching $19.00. The company’s stock had a trading volume of 4,047,211 shares. The stock’s 50 day moving average price is $18.89 and its 200 day moving average price is $17.57. QEP Resources Inc. has a 52-week low of $8.54 and a 52-week high of $20.96. The firm’s market cap is $4.55 billion.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.12. The firm earned $333.70 million during the quarter, compared to the consensus estimate of $362.17 million. QEP Resources had a negative return on equity of 4.04% and a negative net margin of 67.39%. The business’s revenue for the quarter was down 41.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. Equities research analysts expect that QEP Resources Inc. will post ($1.19) earnings per share for the current fiscal year.
Several brokerages have issued reports on QEP. KLR Group reaffirmed a “buy” rating and set a $27.00 price target (up previously from $25.00) on shares of QEP Resources in a report on Thursday, June 30th. FBR & Co reaffirmed a “marketperform” rating on shares of QEP Resources in a report on Wednesday, July 20th. Barclays PLC lifted their target price on QEP Resources from $13.00 to $17.00 and gave the stock an “equal weight” rating in a report on Thursday, July 14th. Zacks Investment Research downgraded QEP Resources from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Finally, Drexel Hamilton reissued a “buy” rating and set a $33.00 target price on shares of QEP Resources in a report on Wednesday, June 22nd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $22.14.
QEP Resources Company Profile
QEP Resources, Inc (QEP) is a holding company with two subsidiaries, QEP Energy Company and QEP Marketing Company, which are engaged in two primary lines of business: oil and gas exploration and production (QEP Energy), and oil and gas marketing, operation of a gas gathering system and an underground gas storage facility, and corporate activities (QEP Marketing and Other).
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