300,215 Shares in QEP Resources Inc (NYSE:QEP) Purchased by TT International

TT International purchased a new position in QEP Resources Inc (NYSE:QEP) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 300,215 shares of the pipeline company’s stock, valued at approximately $2,338,000.

A number of other large investors also recently bought and sold shares of QEP. Norges Bank acquired a new stake in QEP Resources in the fourth quarter worth $19,230,000. Hsbc Holdings PLC grew its holdings in QEP Resources by 96.2% in the fourth quarter. Hsbc Holdings PLC now owns 5,943,161 shares of the pipeline company’s stock worth $33,460,000 after purchasing an additional 2,913,876 shares during the period. Oslo Asset Management AS grew its holdings in QEP Resources by 74.6% in the fourth quarter. Oslo Asset Management AS now owns 6,157,390 shares of the pipeline company’s stock worth $34,666,000 after purchasing an additional 2,630,852 shares during the period. Alpine Associates Management Inc. acquired a new stake in QEP Resources in the first quarter worth $18,806,000. Finally, Two Sigma Investments LP acquired a new stake in QEP Resources in the fourth quarter worth $7,400,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

A number of research firms have commented on QEP. Zacks Investment Research cut shares of QEP Resources from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Tudor Pickering cut shares of QEP Resources from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. cut shares of QEP Resources from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $11.00 to $9.00 in a report on Friday. Wells Fargo & Co restated a “hold” rating on shares of QEP Resources in a report on Friday, April 12th. Finally, ValuEngine cut shares of QEP Resources from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $11.83.

Shares of NYSE QEP traded up $0.01 during mid-day trading on Tuesday, reaching $6.14. 2,003,695 shares of the company’s stock traded hands, compared to its average volume of 3,869,605. The stock has a market capitalization of $1.53 billion, a P/E ratio of -36.10 and a beta of 1.99. QEP Resources Inc has a 1-year low of $5.00 and a 1-year high of $13.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.59 and a quick ratio of 0.59.

QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. The firm had revenue of $280.60 million during the quarter, compared to analysts’ expectations of $289.23 million. QEP Resources had a negative net margin of 60.23% and a positive return on equity of 1.91%. The business’s revenue was down 34.6% on a year-over-year basis. During the same period last year, the company earned ($0.20) earnings per share. As a group, equities research analysts anticipate that QEP Resources Inc will post 0.49 earnings per share for the current fiscal year.

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About QEP Resources

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.

Further Reading: What is Liquidity?

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

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