HBK Investments L P raised its position in shares of QEP Resources Inc (NYSE:QEP) by 59.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,210,358 shares of the pipeline company’s stock after purchasing an additional 828,436 shares during the quarter. HBK Investments L P’s holdings in QEP Resources were worth $21,153,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Swiss National Bank lifted its holdings in shares of QEP Resources by 3.5% in the fourth quarter. Swiss National Bank now owns 415,742 shares of the pipeline company’s stock worth $3,979,000 after buying an additional 14,000 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of QEP Resources by 8.9% in the third quarter. Rhumbline Advisers now owns 460,608 shares of the pipeline company’s stock worth $3,947,000 after buying an additional 37,825 shares in the last quarter. PEAK6 Investments L.P. lifted its holdings in shares of QEP Resources by 167.1% in the third 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. Rothschild Asset Management Inc. lifted its holdings in shares of QEP Resources by 48.3% in the third quarter. Rothschild Asset Management Inc. now owns 656,217 shares of the pipeline company’s stock worth $5,624,000 after buying an additional 213,836 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of QEP Resources by 11.5% in the third quarter. Legal & General Group Plc now owns 368,973 shares of the pipeline company’s stock worth $3,162,000 after buying an additional 37,976 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.
QEP Resources Inc (NYSE:QEP) opened at $9.30 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.28 and a current ratio of 0.29. QEP Resources Inc has a 1 year low of $7.02 and a 1 year high of $13.67. The firm has a market cap of $2,241.01, a price-to-earnings ratio of 12.08 and a beta of 1.70.
QEP Resources declared that its board has approved a share buyback program on Wednesday, February 28th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to purchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several equities analysts have recently commented on the stock. B. Riley set a $10.00 target price on shares of QEP Resources and gave the stock a “hold” rating in a report on Friday. JPMorgan Chase & Co. lowered their target price on shares of QEP Resources from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, March 5th. ValuEngine raised shares of QEP Resources from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Williams Capital set a $18.00 target price on shares of QEP Resources and gave the stock a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research upgraded shares of QEP Resources from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $12.87.
In other news, Director David A. Trice acquired 10,000 shares of the business’s stock in a transaction on Thursday, March 8th. The shares were acquired at an average price of $9.00 per share, for a total transaction of $90,000.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $450,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally published by Ticker Report and is the property of of Ticker Report. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.tickerreport.com/banking-finance/3257763/hbk-investments-l-p-has-21-15-million-holdings-in-qep-resources-inc-qep.html.
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.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QEP Resources and related companies with MarketBeat.com's FREE daily email newsletter.