QEP Resources, Inc. (QEP) Stake Increased by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its stake in shares of QEP Resources, Inc. (NYSE:QEP) by 41.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,062,318 shares of the pipeline company’s stock after acquiring an additional 309,270 shares during the quarter. Retirement Systems of Alabama owned about 0.44% of QEP Resources worth $9,104,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in QEP. Commerce Bank bought a new stake in shares of QEP Resources during the 2nd quarter worth about $102,000. Suntrust Banks Inc. boosted its stake in shares of QEP Resources by 5.8% during the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after acquiring an additional 748 shares in the last quarter. Pitcairn Co. boosted its stake in shares of QEP Resources by 4.3% during the 2nd quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after acquiring an additional 563 shares in the last quarter. Bbva Compass Bancshares Inc. bought a new stake in shares of QEP Resources during the 3rd quarter worth about $178,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of QEP Resources during the 3rd quarter worth about $179,000. Institutional investors own 89.49% of the company’s stock.

QEP Resources, Inc. (QEP) opened at $8.80 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.54. QEP Resources, Inc. has a twelve month low of $7.02 and a twelve month high of $21.12.

QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.11. The firm had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $393.87 million. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) EPS. sell-side analysts anticipate that QEP Resources, Inc. will post -0.46 EPS for the current fiscal year.

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QEP has been the subject of several recent analyst reports. BMO Capital Markets set a $11.00 price target on QEP Resources and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies restated a “buy” rating and set a $12.00 target price on shares of QEP Resources in a research note on Sunday, October 22nd. Stifel Nicolaus decreased their target price on QEP Resources from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, September 26th. KLR Group restated a “buy” rating and set a $14.00 target price (down previously from $15.00) on shares of QEP Resources in a research note on Wednesday, September 27th. Finally, Cowen and Company set a $12.00 target price on QEP Resources and gave the company a “buy” rating in a research note on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $14.19.

QEP Resources 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.

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

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