Julie Dill Acquires 5,000 Shares of QEP Resources, Inc. (NYSE:QEP) Stock
QEP Resources, Inc. (NYSE:QEP) Director Julie Dill purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average cost of $8.49 per share, with a total value of $42,450.00. Following the completion of the purchase, the director now directly owns 5,525 shares in the company, valued at approximately $46,907.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of QEP Resources, Inc. (NYSE QEP) traded up 2.76% during midday trading on Monday, reaching $8.57. The company’s stock had a trading volume of 8,565,341 shares. The company’s market capitalization is $2.06 billion. QEP Resources, Inc. has a one year low of $7.62 and a one year high of $21.12. The stock’s 50-day moving average is $9.41 and its 200-day moving average is $12.52.
QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) EPS for the quarter, topping 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 company had revenue of $383.70 million for the quarter, compared to analysts’ expectations of $413.27 million. During the same period in the prior year, the firm earned ($0.23) earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, equities analysts expect that QEP Resources, Inc. will post ($0.73) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QEP. Wellington Management Group LLP boosted its position in QEP Resources by 10.0% in the first quarter. Wellington Management Group LLP now owns 22,993,414 shares of the pipeline company’s stock worth $292,247,000 after buying an additional 2,097,855 shares during the period. BlackRock Inc. boosted its position in 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 buying an additional 19,788,467 shares during the period. Vanguard Group Inc. boosted its position in 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 buying an additional 922,357 shares during the period. Boston Partners boosted its position in QEP Resources by 47.8% in the first quarter. Boston Partners now owns 13,088,348 shares of the pipeline company’s stock worth $166,353,000 after buying an additional 4,231,442 shares during the period. Finally, State Street Corp boosted its position in 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 buying an additional 883,124 shares during the period. Institutional investors own 91.62% of the company’s stock.
QEP has been the subject of a number of research analyst reports. FBR & Co set a $20.00 price target on QEP Resources and gave the stock a “buy” rating in a research note on Saturday, April 15th. Stifel Nicolaus initiated coverage on QEP Resources in a research note on Wednesday, April 12th. They set a “buy” rating and a $21.00 price target for the company. KLR Group raised their price target on QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Barclays PLC reissued a “buy” rating and set a $10.00 price target on shares of QEP Resources in a research note on Friday, July 7th. Finally, BMO Capital Markets reissued a “buy” rating and set a $11.00 price target on shares of QEP Resources in a research note on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. QEP Resources has a consensus rating of “Hold” and a consensus target price of $16.53.
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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