Royal London Asset Management Ltd. Boosts Stock Position in QEP Resources Inc (NYSE:QEP)

Royal London Asset Management Ltd. grew its stake in shares of QEP Resources Inc (NYSE:QEP) by 165.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,809 shares of the pipeline company’s stock after buying an additional 10,479 shares during the period. Royal London Asset Management Ltd.’s holdings in QEP Resources were worth $121,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its position in shares of QEP Resources by 2,702.9% during the 1st quarter. Quadrant Capital Group LLC now owns 6,755 shares of the pipeline company’s stock valued at $50,000 after buying an additional 6,514 shares in the last quarter. CAPROCK Group Inc. purchased a new position in shares of QEP Resources during the 2nd quarter valued at about $72,000. Jane Street Group LLC lifted its position in shares of QEP Resources by 107.2% during the 4th quarter. Jane Street Group LLC now owns 15,321 shares of the pipeline company’s stock valued at $86,000 after buying an additional 226,747 shares in the last quarter. World Asset Management Inc lifted its position in shares of QEP Resources by 25.3% during the 1st quarter. World Asset Management Inc now owns 18,002 shares of the pipeline company’s stock valued at $140,000 after buying an additional 3,636 shares in the last quarter. Finally, Clear Street Markets LLC purchased a new position in shares of QEP Resources during the 2nd quarter valued at about $145,000. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

QEP has been the topic of a number of analyst reports. CIBC reaffirmed a “market perform” rating on shares of QEP Resources in a research report on Tuesday, July 9th. SunTrust Banks set a $8.00 price objective on QEP Resources and gave the company a “hold” rating in a research report on Tuesday, April 23rd. Tudor Pickering cut QEP Resources from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. Williams Capital reaffirmed a “hold” rating and set a $8.00 price objective on shares of QEP Resources in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut QEP Resources from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $11.00 to $9.00 in a research report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. QEP Resources currently has an average rating of “Hold” and an average target price of $10.73.



In other news, Director David A. Trice acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of $3.80 per share, with a total value of $38,000.00. Following the acquisition, the director now directly owns 60,000 shares of the company’s stock, valued at $228,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Timothy J. Cutt acquired 15,000 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $4.04 per share, for a total transaction of $60,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 228,777 shares in the company, valued at $924,259.08. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 30,000 shares of company stock worth $119,450. 1.71% of the stock is owned by insiders.

NYSE QEP opened at $3.76 on Friday. The stock’s 50 day moving average is $5.66 and its 200 day moving average is $7.05. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. QEP Resources Inc has a 12 month low of $3.39 and a 12 month high of $12.05. The stock has a market cap of $894.54 million, a PE ratio of -22.12 and a beta of 1.92.

QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, August 7th. The pipeline company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.07). QEP Resources had a positive return on equity of 1.29% and a negative net margin of 44.56%. The business had revenue of $296.20 million during the quarter, compared to analysts’ expectations of $293.93 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The firm’s revenue for the quarter was down 44.4% on a year-over-year basis. On average, analysts forecast that QEP Resources Inc will post 0.33 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.08 dividend on an annualized basis and a yield of 2.13%.

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.

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

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