Dimensional Fund Advisors LP Has $186.89 Million Holdings in QEP Resources Inc (QEP)
Dimensional Fund Advisors LP boosted its stake in QEP Resources Inc (NYSE:QEP) by 12.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 15,243,981 shares of the pipeline company’s stock after acquiring an additional 1,677,380 shares during the quarter. Dimensional Fund Advisors LP owned 0.06% of QEP Resources worth $186,892,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC boosted its stake in QEP Resources by 3,131.7% in the 1st quarter. Hsbc Holdings PLC now owns 1,221,630 shares of the pipeline company’s stock worth $11,959,000 after purchasing an additional 1,183,829 shares during the period. Pinnacle Associates Ltd. bought a new position in QEP Resources in the 2nd quarter worth about $19,702,000. Meeder Asset Management Inc. bought a new position in QEP Resources in the 2nd quarter worth about $764,000. Bayesian Capital Management LP bought a new position in QEP Resources in the 1st quarter worth about $576,000. Finally, Natixis bought a new position in QEP Resources in the 1st quarter worth about $2,004,000. Institutional investors and hedge funds own 99.21% of the company’s stock.
Several research analysts have commented on the company. KLR Group restated a “buy” rating and issued a $14.00 target price on shares of QEP Resources in a research note on Monday, August 20th. ValuEngine downgraded QEP Resources from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. B. Riley lifted their price target on QEP Resources from $9.75 to $12.25 and gave the company a “neutral” rating in a research report on Monday, June 11th. Johnson Rice downgraded QEP Resources from a “buy” rating to an “accumulate” rating in a research report on Thursday, July 26th. Finally, Williams Capital set a $15.00 price target on QEP Resources and gave the company a “buy” rating in a research report on Monday, August 20th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. QEP Resources has an average rating of “Hold” and a consensus target price of $13.07.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, July 25th. The pipeline company reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.12) by $0.18. The firm had revenue of $532.40 million during the quarter, compared to the consensus estimate of $434.12 million. QEP Resources had a positive return on equity of 5.96% and a negative net margin of 13.63%. The company’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.12) EPS. equities analysts forecast that QEP Resources Inc will post -0.13 earnings per share for the current year.
About QEP Resources
QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.
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