Shikiar Asset Management Inc. grew its holdings in shares of QEP Resources Inc (NYSE:QEP) by 70.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,800 shares of the pipeline company’s stock after purchasing an additional 25,500 shares during the quarter. Shikiar Asset Management Inc.’s holdings in QEP Resources were worth $481,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in QEP. Bremer Trust National Association purchased a new stake in QEP Resources during the fourth quarter worth about $28,000. Quantamental Technologies LLC purchased a new stake in shares of QEP Resources during the fourth quarter worth approximately $43,000. Royal London Asset Management Ltd. purchased a new stake in shares of QEP Resources during the first quarter worth approximately $49,000. Quadrant Capital Group LLC increased its stake in shares of QEP Resources by 2,702.9% during the first quarter. Quadrant Capital Group LLC now owns 6,755 shares of the pipeline company’s stock worth $50,000 after buying an additional 6,514 shares during the period. Finally, Weiss Multi Strategy Advisers LLC purchased a new stake in shares of QEP Resources during the fourth quarter worth approximately $67,000. 99.22% of the stock is currently owned by institutional investors.
A number of analysts recently weighed in on QEP shares. Wells Fargo & Co restated a “hold” rating on shares of QEP Resources in a research note on Friday, April 12th. Zacks Investment Research downgraded QEP Resources from a “buy” rating to a “hold” rating in a report on Wednesday. SunTrust Banks set a $8.00 price target on QEP Resources and gave the company a “hold” rating in a report on Tuesday, April 23rd. Finally, ValuEngine downgraded QEP Resources from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $11.75.
NYSE:QEP traded down $0.11 during trading hours on Friday, hitting $7.37. The company’s stock had a trading volume of 4,539,705 shares, compared to its average volume of 5,099,218. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -43.35 and a beta of 2.09. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.59 and a current ratio of 0.59. QEP Resources Inc has a 52-week low of $5.00 and a 52-week high of $13.77.
QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. QEP Resources had a positive return on equity of 1.91% and a negative net margin of 60.23%. The firm had revenue of $280.60 million during the quarter, compared to analysts’ expectations of $289.23 million. During the same quarter in the prior year, the business posted ($0.20) earnings per share. QEP Resources’s revenue was down 34.6% compared to the same quarter last year. On average, analysts predict that QEP Resources Inc will post 0.48 EPS for the current year.
About QEP Resources
QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.
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