New York State Teachers Retirement System Has $4.44 Million Position in QEP Resources, Inc. (NYSE:QEP)
New York State Teachers Retirement System cut its position in QEP Resources, Inc. (NYSE:QEP) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 349,565 shares of the pipeline company’s stock after selling 16,300 shares during the period. New York State Teachers Retirement System owned approximately 0.15% of QEP Resources worth $4,443,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Boston Partners increased its position in shares of QEP Resources by 47.8% in the first quarter. Boston Partners now owns 13,088,348 shares of the pipeline company’s stock valued at $166,353,000 after buying an additional 4,231,442 shares during the last quarter. Wellington Management Group LLP boosted its stake in QEP Resources by 10.0% in the first quarter. Wellington Management Group LLP now owns 22,993,414 shares of the pipeline company’s stock valued at $292,247,000 after buying an additional 2,097,855 shares during the period. Caymus Capital Partners L.P. boosted its stake in QEP Resources by 45.4% in the first quarter. Caymus Capital Partners L.P. now owns 6,710,600 shares of the pipeline company’s stock valued at $85,292,000 after buying an additional 2,096,200 shares during the period. Norges Bank acquired a new stake in QEP Resources during the fourth quarter valued at approximately $35,383,000. Finally, Alliancebernstein L.P. boosted its stake in QEP Resources by 29.0% in the first quarter. Alliancebernstein L.P. now owns 7,646,319 shares of the pipeline company’s stock valued at $97,185,000 after buying an additional 1,719,460 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.
Shares of QEP Resources, Inc. (NYSE QEP) traded up 5.31% during mid-day trading on Friday, reaching $7.93. The company had a trading volume of 7,557,653 shares. The company’s market capitalization is $1.91 billion. QEP Resources, Inc. has a 52 week low of $7.54 and a 52 week high of $21.12. The stock has a 50 day moving average of $9.33 and a 200-day moving average of $12.30.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.08. The company had revenue of $383.70 million during the quarter, compared to the consensus estimate of $413.27 million. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. QEP Resources’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.23) EPS. On average, analysts expect that QEP Resources, Inc. will post ($0.61) earnings per share for the current fiscal year.
QEP has been the topic of several recent analyst reports. FBR & Co set a $20.00 price objective on QEP Resources and gave the company a “buy” rating in a research report on Saturday, April 15th. Stifel Nicolaus began coverage on QEP Resources in a research report on Wednesday, April 12th. They set a “buy” rating and a $21.00 price objective on the stock. KLR Group raised their target price on QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Barclays PLC reissued a “buy” rating and issued a $10.00 target price on shares of QEP Resources in a research report on Friday, July 7th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $11.00 target price on shares of QEP Resources in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.53.
In other QEP Resources news, Director Julie Dill purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was purchased at an average cost of $8.49 per share, with a total value of $42,450.00. Following the transaction, the director now owns 5,525 shares in the company, valued at $46,907.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard J. Doleshek purchased 12,500 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average cost of $7.91 per share, with a total value of $98,875.00. Following the completion of the transaction, the chief financial officer now owns 304,539 shares in the company, valued at approximately $2,408,903.49. The disclosure for this purchase can be found here. Corporate insiders own 1.36% of the company’s stock.
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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