Price T Rowe Associates Inc. MD Has $1.46 Million Stake in QEP Resources Inc (NYSE:QEP)

Price T Rowe Associates Inc. MD lifted its position in shares of QEP Resources Inc (NYSE:QEP) by 15.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 202,243 shares of the pipeline company’s stock after purchasing an additional 27,024 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.09% of QEP Resources worth $1,462,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of QEP. Retirement Systems of Alabama raised its position in QEP Resources by 0.6% in the 2nd quarter. Retirement Systems of Alabama now owns 309,622 shares of the pipeline company’s stock valued at $2,239,000 after buying an additional 1,930 shares during the last quarter. Meeder Asset Management Inc. raised its position in QEP Resources by 2.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 132,942 shares of the pipeline company’s stock valued at $962,000 after buying an additional 2,596 shares during the last quarter. US Bancorp DE raised its position in QEP Resources by 13.7% in the 2nd quarter. US Bancorp DE now owns 23,596 shares of the pipeline company’s stock valued at $170,000 after buying an additional 2,839 shares during the last quarter. Arizona State Retirement System raised its position in QEP Resources by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 172,767 shares of the pipeline company’s stock valued at $1,249,000 after buying an additional 3,042 shares during the last quarter. Finally, Marshall Wace LLP raised its position in QEP Resources by 1.3% in the 2nd quarter. Marshall Wace LLP now owns 250,495 shares of the pipeline company’s stock valued at $1,811,000 after buying an additional 3,152 shares during the last quarter. 99.15% of the stock is currently owned by institutional investors.

Shares of NYSE:QEP opened at $3.22 on Friday. The company has a market capitalization of $742.29 million, a PE ratio of -18.94 and a beta of 1.96. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.72 and a quick ratio of 0.72. The business has a fifty day moving average price of $3.76 and a two-hundred day moving average price of $5.91. QEP Resources Inc has a 1 year low of $2.97 and a 1 year high of $11.32.

QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.07). The business had revenue of $296.20 million during the quarter, compared to the consensus estimate of $293.93 million. QEP Resources had a negative net margin of 44.56% and a positive return on equity of 1.29%. The firm’s revenue for the quarter was down 44.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.06 EPS. Sell-side analysts anticipate that QEP Resources Inc will post 0.32 earnings per share for the current year.

A number of research firms recently commented on QEP. Williams Capital reissued a “hold” rating and issued a $5.00 price target on shares of QEP Resources in a research report on Thursday, August 22nd. BMO Capital Markets began coverage on QEP Resources in a research report on Tuesday, September 10th. They issued a “market perform” rating and a $5.00 price target for the company. Raymond James downgraded QEP Resources from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, August 8th. CIBC restated a “market perform” rating on shares of QEP Resources in a research note on Tuesday, July 9th. Finally, Piper Jaffray Companies set a $5.00 price objective on QEP Resources and gave the company a “hold” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $8.91.

In other news, CFO Richard J. Doleshek purchased 25,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $3.50 per share, for a total transaction of $87,500.00. Following the purchase, the chief financial officer now owns 533,723 shares of the company’s stock, valued at $1,868,030.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy J. Cutt purchased 15,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $4.04 per share, with a total value of $60,600.00. Following the purchase, 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 acquired a total of 140,000 shares of company stock valued at $534,450 in the last 90 days. Corporate insiders own 1.71% of the company’s stock.

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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Institutional Ownership by Quarter for QEP Resources (NYSE:QEP)

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