QEP Resources, Inc. (QEP) Holdings Decreased by Cibc World Markets Corp
Cibc World Markets Corp lowered its holdings in QEP Resources, Inc. (NYSE:QEP) by 38.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 329,200 shares of the pipeline company’s stock after selling 202,800 shares during the period. Cibc World Markets Corp owned approximately 0.14% of QEP Resources worth $3,325,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in QEP. Great West Life Assurance Co. Can raised its holdings in shares of QEP Resources by 3.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 144,678 shares of the pipeline company’s stock valued at $1,837,000 after acquiring an additional 5,466 shares in the last quarter. Suntrust Banks Inc. raised its holdings in shares of QEP Resources by 5.4% in the 1st quarter. Suntrust Banks Inc. now owns 12,788 shares of the pipeline company’s stock valued at $161,000 after acquiring an additional 651 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of QEP Resources by 7.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 235,390 shares of the pipeline company’s stock valued at $2,992,000 after acquiring an additional 17,068 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of QEP Resources in the 1st quarter valued at about $343,000. Finally, 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 valued at $771,000 after acquiring an additional 273 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on QEP shares. Credit Suisse Group started coverage on QEP Resources in a report on Thursday, June 1st. They issued a “neutral” rating and a $15.00 price target on the stock. BidaskClub raised QEP Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Wolfe Research started coverage on QEP Resources in a report on Thursday, June 15th. They issued a “market perform” rating on the stock. BMO Capital Markets reaffirmed a “buy” rating and issued a $11.00 price target on shares of QEP Resources in a report on Tuesday, June 27th. Finally, Barclays PLC reiterated a “buy” rating and set a $10.00 price objective on shares of QEP Resources in a research report on Friday, July 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $15.69.
In related news, Director David A. Trice acquired 25,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average cost of $7.20 per share, for a total transaction of $180,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $288,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Julie Dill acquired 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were bought 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 owns 5,525 shares of the company’s stock, valued at $46,907.25. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 42,500 shares of company stock worth $321,325. Company insiders own 1.36% of the company’s stock.
QEP Resources, Inc. (NYSE QEP) opened at 8.49 on Thursday. QEP Resources, Inc. has a 52-week low of $7.02 and a 52-week high of $21.12. The company’s market capitalization is $2.04 billion. The company’s 50-day moving average price is $7.54 and its 200 day moving average price is $10.05.
QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.08. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The business had revenue of $383.70 million for the quarter, compared to the consensus estimate of $413.27 million. During the same period in the prior year, the business posted ($0.23) earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities analysts expect that QEP Resources, Inc. will post ($0.60) EPS for the current fiscal year.
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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