QEP Resources, Inc. (QEP) Shares Bought by Amalgamated Bank
Amalgamated Bank lifted its stake in QEP Resources, Inc. (NYSE:QEP) by 25.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,949 shares of the pipeline company’s stock after purchasing an additional 9,040 shares during the period. Amalgamated Bank’s holdings in QEP Resources were worth $454,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of QEP. BlackRock Inc. grew its holdings in shares of QEP Resources by 12,055.6% in the first quarter. BlackRock Inc. now owns 19,952,610 shares of the pipeline company’s stock worth $253,598,000 after purchasing an additional 19,788,467 shares during the last quarter. Caymus Capital Partners L.P. grew its holdings in shares of QEP Resources by 18.2% in the second quarter. Caymus Capital Partners L.P. now owns 7,931,300 shares of the pipeline company’s stock worth $80,106,000 after purchasing an additional 1,220,700 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of QEP Resources by 43.8% in the first quarter. Mackenzie Financial Corp now owns 3,268,689 shares of the pipeline company’s stock worth $41,545,000 after purchasing an additional 995,450 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of QEP Resources by 4.9% in the first quarter. Vanguard Group Inc. now owns 19,855,067 shares of the pipeline company’s stock worth $252,357,000 after purchasing an additional 922,357 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of QEP Resources by 10.5% in the first quarter. State Street Corp now owns 9,255,582 shares of the pipeline company’s stock worth $117,640,000 after purchasing an additional 883,124 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.
In other news, Director David A. Trice acquired 25,000 shares of QEP Resources stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $7.20 per share, for a total transaction of $180,000.00. Following the completion of the purchase, the director now owns 40,000 shares in the company, valued at $288,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julie Dill acquired 5,000 shares of QEP Resources stock in a transaction on Friday, July 28th. The stock was purchased at an average price of $8.49 per share, with a total value of $42,450.00. Following the purchase, the director now owns 5,525 shares of the company’s stock, valued at approximately $46,907.25. The disclosure for this purchase can be found here. Insiders purchased 42,500 shares of company stock valued at $321,325 over the last ninety days. 1.36% of the stock is currently owned by corporate insiders.
QEP has been the topic of a number of research analyst reports. Deutsche Bank AG cut shares of QEP Resources from a “buy” rating to a “hold” rating and cut their price target for the stock from $18.00 to $13.00 in a report on Tuesday, July 18th. ValuEngine upgraded shares of QEP Resources from a “strong sell” rating to a “sell” rating in a report on Monday. BMO Capital Markets reiterated a “buy” rating and set a $11.00 target price on shares of QEP Resources in a report on Tuesday, June 27th. Barclays PLC reiterated a “buy” rating and set a $10.00 target price on shares of QEP Resources in a report on Friday, July 7th. Finally, BidaskClub upgraded shares of QEP Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. QEP Resources presently has an average rating of “Hold” and a consensus price target of $15.69.
QEP Resources, Inc. (NYSE QEP) opened at 9.14 on Friday. The company has a 50 day moving average of $7.88 and a 200 day moving average of $9.70. The stock’s market capitalization is $2.20 billion. QEP Resources, Inc. has a 12 month low of $7.02 and a 12 month high of $21.12.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.08. The firm 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%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) earnings per share. On average, equities analysts predict that QEP Resources, Inc. will post ($0.59) EPS for the current year.
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QEP Resources 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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