HBK Investments L P lifted its stake in QEP Resources Inc (NYSE:QEP) by 59.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,210,358 shares of the pipeline company’s stock after purchasing an additional 828,436 shares during the period. HBK Investments L P owned 0.92% of QEP Resources worth $21,153,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. ING Groep NV lifted its position in shares of QEP Resources by 23.4% in the 4th quarter. ING Groep NV now owns 36,355 shares of the pipeline company’s stock worth $348,000 after purchasing an additional 6,900 shares during the period. Mackenzie Financial Corp lifted its position in QEP Resources by 0.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,702,500 shares of the pipeline company’s stock valued at $25,863,000 after acquiring an additional 7,500 shares during the period. Principal Financial Group Inc. lifted its position in QEP Resources by 0.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,028,062 shares of the pipeline company’s stock valued at $8,810,000 after acquiring an additional 9,258 shares during the period. US Bancorp DE lifted its position in QEP Resources by 73.5% during the 4th quarter. US Bancorp DE now owns 24,140 shares of the pipeline company’s stock valued at $230,000 after acquiring an additional 10,223 shares during the period. Finally, Kornitzer Capital Management Inc. KS purchased a new position in QEP Resources during the 4th quarter valued at about $100,000. 94.34% of the stock is owned by hedge funds and other institutional investors.
Shares of QEP Resources Inc (NYSE:QEP) opened at $9.30 on Monday. QEP Resources Inc has a 12 month low of $7.02 and a 12 month high of $13.67. The company has a market cap of $2,241.01, a P/E ratio of 12.08 and a beta of 1.70. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.57.
QEP Resources announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 28th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the pipeline company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
QEP has been the subject of a number of recent research reports. Williams Capital initiated coverage on shares of QEP Resources in a research report on Friday, December 8th. They set a “buy” rating and a $13.00 price target for the company. Mizuho raised shares of QEP Resources from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 21st. BMO Capital Markets set a $11.00 price target on shares of QEP Resources and gave the company a “buy” rating in a research report on Tuesday, November 14th. Zacks Investment Research raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday, December 26th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $14.00 price target on shares of QEP Resources in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.87.
In related news, Director David A. Trice purchased 10,000 shares of QEP Resources stock in a transaction dated Thursday, March 8th. The stock was purchased at an average cost of $9.00 per share, for a total transaction of $90,000.00. Following the completion of the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $450,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.36% of the company’s stock.
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.
Want to see what other hedge funds are holding QEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for QEP Resources Inc (NYSE:QEP).
Receive News & Ratings for QEP Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QEP Resources and related companies with MarketBeat.com's FREE daily email newsletter.