Neuberger Berman Group LLC Lowers Position in QEP Resources, Inc. (QEP)
Neuberger Berman Group LLC lessened its stake in QEP Resources, Inc. (NYSE:QEP) by 21.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,585 shares of the pipeline company’s stock after selling 4,677 shares during the quarter. Neuberger Berman Group LLC’s holdings in QEP Resources were worth $178,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. Utah Retirement Systems raised its holdings in shares of QEP Resources by 0.5% in the 2nd quarter. Utah Retirement Systems now owns 43,794 shares of the pipeline company’s stock worth $442,000 after purchasing an additional 200 shares during the period. Sei Investments Co. raised its holdings in shares of QEP Resources by 0.5% in the 1st quarter. Sei Investments Co. now owns 60,648 shares of the pipeline company’s stock worth $771,000 after purchasing an additional 273 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of QEP Resources by 1.6% in the 1st quarter. Teacher Retirement System of Texas now owns 19,043 shares of the pipeline company’s stock worth $242,000 after purchasing an additional 307 shares during the period. Capstone Asset Management Co. raised its holdings in shares of QEP Resources by 1.7% in the 2nd quarter. Capstone Asset Management Co. now owns 19,267 shares of the pipeline company’s stock worth $195,000 after purchasing an additional 320 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its holdings in shares of QEP Resources by 0.3% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 111,020 shares of the pipeline company’s stock worth $1,411,000 after purchasing an additional 330 shares during the period. 93.21% of the stock is currently owned by institutional investors.
In other news, CFO Richard J. Doleshek acquired 12,500 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were purchased at an average cost of $7.91 per share, for a total transaction of $98,875.00. Following the transaction, the chief financial officer now directly owns 304,539 shares of the company’s stock, valued at $2,408,903.49. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Julie Dill acquired 5,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were purchased at an average price of $8.49 per share, for a total transaction of $42,450.00. Following the completion of the transaction, the director now directly owns 5,525 shares in the company, valued at $46,907.25. The disclosure for this purchase can be found here. Insiders have bought a total of 42,500 shares of company stock worth $321,325 over the last 90 days. Insiders own 1.36% of the company’s stock.
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QEP Resources, Inc. (QEP) opened at 8.49 on Thursday. QEP Resources, Inc. has a 12-month low of $7.02 and a 12-month high of $21.12. The company’s market cap is $2.04 billion. The stock has a 50 day moving average of $7.54 and a 200 day moving average of $10.05.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, July 26th. The pipeline company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.08. The firm had revenue of $383.70 million for the quarter, compared to the consensus estimate of $413.27 million. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm earned ($0.23) EPS. Equities analysts expect that QEP Resources, Inc. will post ($0.60) earnings per share for the current year.
A number of equities research analysts recently commented on QEP shares. Credit Suisse Group assumed coverage on shares of QEP Resources in a report on Thursday, June 1st. They issued a “neutral” rating and a $15.00 price target on the stock. Cowen and Company set a $12.00 target price on shares of QEP Resources and gave the company a “buy” rating in a report on Friday, August 25th. Wolfe Research assumed coverage on shares of QEP Resources in a report on Thursday, June 15th. They set a “market perform” rating on the stock. BidaskClub cut shares of QEP Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, Barclays PLC lowered their target price on shares of QEP Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.69.
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.
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