Wells Fargo & Company MN lowered its stake in shares of QEP Resources Inc (NYSE:QEP) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,825,701 shares of the pipeline company’s stock after selling 134,619 shares during the period. Wells Fargo & Company MN owned approximately 0.76% of QEP Resources worth $17,471,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. First Trust Advisors LP raised its stake in QEP Resources by 14.9% during the fourth quarter. First Trust Advisors LP now owns 1,598,131 shares of the pipeline company’s stock worth $15,294,000 after purchasing an additional 207,631 shares during the period. Barings LLC purchased a new position in QEP Resources during the fourth quarter worth approximately $449,000. New Mexico Educational Retirement Board purchased a new position in QEP Resources during the fourth quarter worth approximately $569,000. Swiss National Bank raised its stake in shares of QEP Resources by 3.5% in the 4th quarter. Swiss National Bank now owns 415,742 shares of the pipeline company’s stock valued at $3,979,000 after acquiring an additional 14,000 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of QEP Resources by 9.5% in the 4th quarter. California Public Employees Retirement System now owns 1,014,362 shares of the pipeline company’s stock valued at $9,707,000 after acquiring an additional 88,203 shares during the period. 94.34% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on QEP. Zacks Investment Research raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Friday, January 12th. Mizuho set a $15.00 target price on shares of QEP Resources and gave the company a “buy” rating in a research note on Tuesday, January 16th. Piper Jaffray Companies reissued a “buy” rating and issued a $14.00 target price on shares of QEP Resources in a research note on Tuesday, January 9th. JPMorgan Chase & Co. cut their target price on shares of QEP Resources from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, March 5th. Finally, ValuEngine raised shares of QEP Resources from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.87.
Shares of QEP Resources Inc (NYSE:QEP) opened at $9.30 on Monday. The firm has a market cap of $2,241.01, a price-to-earnings ratio of 12.08 and a beta of 1.70. QEP Resources Inc has a fifty-two week low of $7.02 and a fifty-two week high of $13.67. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.57.
QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, February 28th. The pipeline company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $1.20. The business had revenue of $429.00 million during the quarter, compared to analyst estimates of $392.01 million. QEP Resources had a net margin of 16.59% and a return on equity of 5.06%. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the business earned ($0.15) EPS. equities analysts anticipate that QEP Resources Inc will post -0.42 earnings per share for the current year.
QEP Resources announced that its board has authorized a share buyback plan on Wednesday, February 28th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the pipeline company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
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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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