Caymus Capital Partners L.P. lowered its position in shares of QEP Resources, Inc. (NYSE:QEP) by 22.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,165,700 shares of the pipeline company’s stock after selling 1,765,600 shares during the quarter. QEP Resources makes up approximately 6.7% of Caymus Capital Partners L.P.’s holdings, making the stock its 8th biggest holding. Caymus Capital Partners L.P. owned approximately 2.56% of QEP Resources worth $52,840,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in QEP. Dimensional Fund Advisors LP increased its position in shares of QEP Resources by 77.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,548,695 shares of the pipeline company’s stock worth $45,941,000 after purchasing an additional 1,988,685 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in shares of QEP Resources by 98.5% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,106,908 shares of the pipeline company’s stock worth $26,626,000 after purchasing an additional 1,541,894 shares in the last quarter. State Street Corp increased its position in shares of QEP Resources by 16.1% during the 2nd quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock worth $108,526,000 after purchasing an additional 1,489,661 shares in the last quarter. Key Group Holdings Cayman LTD. increased its position in shares of QEP Resources by 55.7% during the 2nd quarter. Key Group Holdings Cayman LTD. now owns 3,463,104 shares of the pipeline company’s stock worth $34,977,000 after purchasing an additional 1,238,891 shares in the last quarter. Finally, Oslo Asset Management AS acquired a new stake in shares of QEP Resources during the 3rd quarter worth about $10,041,000. Institutional investors and hedge funds own 89.49% of the company’s stock.
Shares of QEP Resources, Inc. (QEP) traded down $0.66 during midday trading on Tuesday, hitting $9.05. 5,179,500 shares of the stock traded hands, compared to its average volume of 5,037,842. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.54 and a current ratio of 1.55. QEP Resources, Inc. has a one year low of $7.02 and a one year high of $21.12.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.11. The company had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.21) EPS. analysts expect that QEP Resources, Inc. will post -0.46 EPS for the current year.
QEP has been the subject of a number of recent analyst reports. Cowen and Company set a $12.00 target price on shares of QEP Resources and gave the stock a “buy” rating in a research report on Friday, August 25th. Deutsche Bank AG cut shares of QEP Resources from a “buy” rating to a “hold” rating and lowered their price objective for the company from $18.00 to $13.00 in a research report on Tuesday, July 18th. Barclays PLC raised their price objective on shares of QEP Resources from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. ValuEngine cut shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, September 8th. Finally, BMO Capital Markets set a $11.00 price objective on shares of QEP Resources and gave the company a “buy” rating in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. QEP Resources presently has an average rating of “Hold” and a consensus target price of $14.19.
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In other news, Director David A. Trice acquired 25,000 shares of QEP Resources stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $7.20 per share, with a total value of $180,000.00. Following the purchase, the director now directly owns 40,000 shares of the company’s stock, valued at $288,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.36% of the stock is owned by company insiders.
QEP Resources Company 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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