Retirement Systems of Alabama boosted its position in shares of QEP Resources Inc (NYSE:QEP) by 24.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 305,395 shares of the company’s stock after buying an additional 59,266 shares during the period. Retirement Systems of Alabama’s holdings in QEP Resources were worth $5,384,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in 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 during the last quarter. LS Investment Advisors LLC raised its position in 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 during the last quarter. Benin Management CORP raised its position in 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 during the last quarter. Capstone Asset Management Co. raised its position in 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 during the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in QEP Resources during the first quarter valued at about $260,000. 87.51% of the stock is currently owned by institutional investors.
Shares of QEP Resources Inc (NYSE:QEP) traded down 0.06% on Thursday, reaching $18.06. The company’s stock had a trading volume of 3,529,067 shares. QEP Resources Inc has a one year low of $8.54 and a one year high of $20.96. The firm’s market capitalization is $4.33 billion. The firm has a 50-day moving average price of $18.55 and a 200 day moving average price of $17.77.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.12. QEP Resources had a negative return on equity of 4.04% and a negative net margin of 67.39%. The firm had revenue of $333.70 million for the quarter, compared to the consensus estimate of $362.17 million. During the same period in the prior year, the business posted $0.09 earnings per share. The company’s revenue for the quarter was down 41.9% on a year-over-year basis. On average, analysts anticipate that QEP Resources Inc will post ($1.19) earnings per share for the current fiscal year.
Several equities analysts recently issued reports on QEP shares. Cantor Fitzgerald restated a “buy” rating on shares of QEP Resources in a research report on Wednesday, June 22nd. KLR Group restated a “buy” rating and set a $32.00 price target (up from $31.00) on shares of QEP Resources in a research report on Tuesday, August 2nd. Goldman Sachs Group Inc. started coverage on QEP Resources in a research report on Thursday, October 6th. They set a “neutral” rating and a $21.00 price target on the stock. Barclays PLC upgraded QEP Resources from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $17.00 to $22.00 in a research report on Wednesday, August 3rd. Finally, Simmons upgraded QEP Resources from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $20.00 to $24.00 in a research report on Wednesday, June 15th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $22.38.
About QEP Resources
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).
Want to see what other hedge funds are holding QEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QEP Resources Inc (NYSE:QEP).
Receive News & Ratings for QEP Resources Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QEP Resources Inc and related companies with MarketBeat.com's FREE daily email newsletter.