State of Tennessee Treasury Department raised its stake in QEP Resources Inc (NYSE:QEP) by 197.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 242,756 shares of the pipeline company’s stock after purchasing an additional 161,104 shares during the quarter. State of Tennessee Treasury Department’s holdings in QEP Resources were worth $314,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can increased its position in QEP Resources by 30.4% during the second quarter. Bank of Montreal Can now owns 39,345 shares of the pipeline company’s stock worth $45,000 after buying an additional 9,172 shares during the last quarter. Algert Global LLC acquired a new stake in shares of QEP Resources in the second quarter worth about $78,000. Goldman Sachs Group Inc. lifted its position in shares of QEP Resources by 10.9% in the second quarter. Goldman Sachs Group Inc. now owns 2,654,723 shares of the pipeline company’s stock worth $3,425,000 after buying an additional 261,808 shares during the last quarter. Personal Capital Advisors Corp acquired a new stake in shares of QEP Resources in the second quarter worth about $27,000. Finally, California Public Employees Retirement System lifted its position in shares of QEP Resources by 1.9% in the second quarter. California Public Employees Retirement System now owns 551,848 shares of the pipeline company’s stock worth $712,000 after buying an additional 10,277 shares during the last quarter. Institutional investors and hedge funds own 60.94% of the company’s stock.
QEP stock opened at $1.04 on Wednesday. QEP Resources Inc has a 1-year low of $0.26 and a 1-year high of $5.11. The firm has a market cap of $252.02 million, a P/E ratio of 1.58 and a beta of 4.83. The business’s 50 day moving average is $1.35 and its 200-day moving average is $1.12. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.56.
QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, July 29th. The pipeline company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). The company had revenue of $120.60 million during the quarter, compared to the consensus estimate of $213.73 million. QEP Resources had a net margin of 15.74% and a return on equity of 0.68%. Sell-side analysts forecast that QEP Resources Inc will post 0.16 EPS for the current year.
A number of analysts have weighed in on QEP shares. ValuEngine cut QEP Resources from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Wells Fargo & Company boosted their price objective on QEP Resources from $1.50 to $2.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. MKM Partners assumed coverage on QEP Resources in a research report on Wednesday, June 17th. They set a “buy” rating and a $3.00 price objective for the company. Zacks Investment Research raised QEP Resources from a “sell” rating to a “hold” rating and set a $1.75 price objective for the company in a research report on Thursday, August 6th. Finally, Siebert Williams Shank reissued a “hold” rating and set a $1.50 price objective on shares of QEP Resources in a research report on Friday, July 24th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $2.33.
QEP Resources 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.
Featured Story: Arbitrage
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.