Pinnacle Associates Ltd. increased its holdings in QEP Resources Inc (NYSE:QEP) by 29.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,800,485 shares of the pipeline company’s stock after purchasing an additional 413,657 shares during the period. Pinnacle Associates Ltd. owned 0.76% of QEP Resources worth $10,137,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantamental Technologies LLC purchased a new position in QEP Resources in the 4th quarter worth approximately $43,000. CWM Advisors LLC purchased a new stake in shares of QEP Resources during the 4th quarter worth approximately $85,000. Virtu Financial LLC purchased a new stake in shares of QEP Resources during the 4th quarter worth approximately $105,000. Tower Research Capital LLC TRC raised its holdings in shares of QEP Resources by 298.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,550 shares of the pipeline company’s stock worth $119,000 after acquiring an additional 7,899 shares in the last quarter. Finally, LS Investment Advisors LLC raised its holdings in shares of QEP Resources by 119.7% during the 4th quarter. LS Investment Advisors LLC now owns 29,661 shares of the pipeline company’s stock worth $167,000 after acquiring an additional 16,159 shares in the last quarter. 99.22% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on QEP shares. ValuEngine raised QEP Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Stephens started coverage on QEP Resources in a report on Thursday, December 6th. They set an “equal weight” rating and a $12.00 price objective on the stock. Zacks Investment Research cut QEP Resources from a “buy” rating to a “hold” rating in a report on Friday, January 18th. Oppenheimer reaffirmed a “buy” rating on shares of QEP Resources in a report on Friday, October 19th. Finally, Cowen started coverage on QEP Resources in a report on Thursday, November 29th. They set a “market perform” rating on the stock. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. QEP Resources has an average rating of “Hold” and a consensus target price of $13.07.
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About QEP Resources
QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.
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