Flinton Capital Management LLC lowered its stake in shares of QEP Resources Inc (NYSE:QEP) by 78.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,456 shares of the pipeline company’s stock after selling 104,640 shares during the quarter. Flinton Capital Management LLC’s holdings in QEP Resources were worth $213,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in QEP. CAPROCK Group Inc. acquired a new stake in shares of QEP Resources during the 2nd quarter valued at approximately $72,000. Teza Capital Management LLC acquired a new stake in shares of QEP Resources during the 2nd quarter valued at approximately $108,000. Royal London Asset Management Ltd. grew its stake in QEP Resources by 165.5% in the 2nd quarter. Royal London Asset Management Ltd. now owns 16,809 shares of the pipeline company’s stock worth $121,000 after acquiring an additional 10,479 shares during the period. Clear Street Markets LLC purchased a new stake in QEP Resources in the 2nd quarter worth approximately $145,000. Finally, Shell Asset Management Co. purchased a new stake in QEP Resources in the 1st quarter worth approximately $212,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Richard J. Doleshek acquired 25,000 shares of the stock in a transaction on Friday, August 23rd. The stock was purchased at an average price of $3.50 per share, for a total transaction of $87,500.00. Following the transaction, the chief financial officer now owns 533,723 shares of the company’s stock, valued at approximately $1,868,030.50. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy J. Cutt acquired 15,000 shares of the stock in a transaction on Friday, August 9th. The stock was bought at an average price of $4.04 per share, with a total value of $60,600.00. Following the transaction, the chief executive officer now directly owns 228,777 shares in the company, valued at approximately $924,259.08. The disclosure for this purchase can be found here. Insiders purchased a total of 140,000 shares of company stock worth $534,450 over the last quarter. 1.71% of the stock is currently owned by company insiders.
Shares of NYSE:QEP opened at $3.82 on Friday. QEP Resources Inc has a 52 week low of $3.34 and a 52 week high of $12.05. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $977.82 million, a PE ratio of -22.47 and a beta of 1.97. The firm has a 50 day simple moving average of $3.96 and a 200 day simple moving average of $6.22.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.07). QEP Resources had a positive return on equity of 1.29% and a negative net margin of 44.56%. The business had revenue of $296.20 million for the quarter, compared to analyst estimates of $293.93 million. During the same quarter last year, the company earned $0.06 EPS. The business’s revenue for the quarter was down 44.4% compared to the same quarter last year. On average, equities analysts predict that QEP Resources Inc will post 0.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.08 dividend on an annualized basis and a yield of 2.09%. QEP Resources’s payout ratio is presently -47.06%.
Several research firms have commented on QEP. CIBC reaffirmed a “market perform” rating on shares of QEP Resources in a research note on Tuesday, July 9th. Raymond James cut shares of QEP Resources from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, August 8th. Tudor Pickering lowered shares of QEP Resources from a “buy” rating to a “hold” rating in a report on Friday, June 7th. BMO Capital Markets initiated coverage on shares of QEP Resources in a report on Tuesday, September 10th. They issued a “market perform” rating and a $5.00 price objective on the stock. Finally, Williams Capital reiterated a “hold” rating and issued a $5.00 price objective on shares of QEP Resources in a report on Thursday, August 22nd. Two research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. QEP Resources presently has a consensus rating of “Hold” and a consensus price target of $8.91.
QEP Resources Company Profile
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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