Nuveen Asset Management LLC decreased its stake in QEP Resources, Inc. (NYSE:QEP) by 23.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,321 shares of the pipeline company’s stock after selling 22,324 shares during the period. Nuveen Asset Management LLC’s holdings in QEP Resources were worth $906,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the company. Suntrust Banks Inc. increased its position in shares of QEP Resources by 5.4% in the first quarter. Suntrust Banks Inc. now owns 12,788 shares of the pipeline company’s stock worth $161,000 after buying an additional 651 shares during the last quarter. Pitcairn Co. increased its position in shares of QEP Resources by 1.9% in the first quarter. Pitcairn Co. now owns 12,949 shares of the pipeline company’s stock worth $164,000 after buying an additional 239 shares during the last quarter. Flinton Capital Management LLC increased its position in shares of QEP Resources by 4.4% in the first quarter. Flinton Capital Management LLC now owns 13,040 shares of the pipeline company’s stock worth $166,000 after buying an additional 544 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in shares of QEP Resources by 4.4% in the first quarter. Meadow Creek Investment Management LLC now owns 17,930 shares of the pipeline company’s stock worth $228,000 after buying an additional 748 shares during the last quarter. Finally, M&T Bank Corp boosted its position in QEP Resources by 19.6% in the first quarter. M&T Bank Corp now owns 18,658 shares of the pipeline company’s stock worth $237,000 after buying an additional 3,064 shares during the period. Hedge funds and other institutional investors own 91.91% of the company’s stock.

QEP Resources, Inc. (QEP) traded up 4.49% during trading on Friday, hitting $7.44. The company’s stock had a trading volume of 4,572,433 shares. The firm’s market cap is $1.79 billion. The firm has a 50 day moving average of $8.54 and a 200 day moving average of $11.43. QEP Resources, Inc. has a 12 month low of $7.02 and a 12 month high of $21.12.

QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, July 26th. The pipeline company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.08. The company had revenue of $383.70 million for 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 quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted ($0.23) EPS. Equities research analysts predict that QEP Resources, Inc. will post ($0.62) earnings per share for the current year.

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A number of research firms have commented on QEP. J P Morgan Chase & Co cut shares of QEP Resources from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $11.00 to $9.00 in a research report on Thursday, July 27th. National Securities started coverage on shares of QEP Resources in a research report on Monday, July 31st. They issued a “buy” rating and a $11.00 target price for the company. BidaskClub cut shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Cowen and Company set a $12.00 target price on shares of QEP Resources and gave the company a “buy” rating in a research report on Wednesday, July 19th. 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 analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. QEP Resources presently has a consensus rating of “Hold” and an average target price of $16.53.

In other news, Director Julie Dill acquired 5,000 shares of QEP Resources stock in a transaction on Friday, July 28th. The shares were bought at an average cost of $8.49 per share, for a total transaction of $42,450.00. Following the acquisition, the director now directly owns 5,525 shares of the company’s stock, valued at approximately $46,907.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Trice acquired 25,000 shares of QEP Resources stock in a transaction on Thursday, August 17th. The shares were purchased at an average price of $7.20 per share, for a total transaction of $180,000.00. Following the completion of the acquisition, the director now directly owns 40,000 shares in the company, valued at $288,000. The disclosure for this purchase can be found here. Insiders have acquired a total of 42,500 shares of company stock worth $321,325 over the last 90 days. 1.36% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for QEP Resources (NYSE:QEP)

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