Wells Fargo & Company MN Sells 129,269 Shares of QEP Resources, Inc. (QEP)

Wells Fargo & Company MN decreased its holdings in QEP Resources, Inc. (NYSE:QEP) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,960,320 shares of the pipeline company’s stock after selling 129,269 shares during the period. Wells Fargo & Company MN owned 0.81% of QEP Resources worth $16,800,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of QEP. BlackRock Inc. grew its stake in QEP Resources by 1.0% during the second quarter. BlackRock Inc. now owns 20,160,805 shares of the pipeline company’s stock valued at $203,623,000 after acquiring an additional 208,195 shares in the last quarter. Vanguard Group Inc. grew its stake in QEP Resources by 1.1% during the second quarter. Vanguard Group Inc. now owns 20,078,248 shares of the pipeline company’s stock valued at $202,790,000 after acquiring an additional 223,181 shares in the last quarter. State Street Corp grew its stake in QEP Resources by 16.1% during the second quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock valued at $108,526,000 after acquiring an additional 1,489,661 shares in the last quarter. Alliancebernstein L.P. grew its stake in QEP Resources by 9.8% during the second quarter. Alliancebernstein L.P. now owns 8,393,250 shares of the pipeline company’s stock valued at $84,772,000 after acquiring an additional 746,931 shares in the last quarter. Finally, Caymus Capital Partners L.P. grew its stake in QEP Resources by 18.2% during the second quarter. Caymus Capital Partners L.P. now owns 7,931,300 shares of the pipeline company’s stock valued at $80,106,000 after acquiring an additional 1,220,700 shares in the last quarter. Hedge funds and other institutional investors own 93.12% of the company’s stock.

QEP Resources, Inc. (NYSE QEP) opened at $9.00 on Thursday. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.52. QEP Resources, Inc. has a 12 month low of $7.02 and a 12 month high of $19.52.

QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.11. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The business had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $393.87 million. During the same quarter in the previous year, the company earned ($0.21) EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. equities research analysts forecast that QEP Resources, Inc. will post -0.44 EPS for the current fiscal year.

QEP has been the subject of several recent analyst reports. Barclays cut shares of QEP Resources from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective for the company. in a research note on Tuesday, November 7th. ValuEngine raised shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research note on Monday, October 2nd. BMO Capital Markets set a $11.00 price objective on shares of QEP Resources and gave the company a “buy” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $12.00 price objective on shares of QEP Resources in a research note on Sunday, October 22nd. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $9.00 price objective on shares of QEP Resources in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $13.76.

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QEP Resources Company 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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