QEP Resources Inc (QEP) Shares Bought by Texas Permanent School Fund

Texas Permanent School Fund raised its stake in shares of QEP Resources Inc (NYSE:QEP) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 160,489 shares of the pipeline company’s stock after buying an additional 5,549 shares during the period. Texas Permanent School Fund’s holdings in QEP Resources were worth $1,250,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in QEP. Norges Bank acquired a new position in QEP Resources during the 4th quarter valued at about $19,230,000. Hsbc Holdings PLC increased its stake in QEP Resources by 96.2% during the 4th quarter. Hsbc Holdings PLC now owns 5,943,161 shares of the pipeline company’s stock valued at $33,460,000 after buying an additional 2,913,876 shares during the period. Oslo Asset Management AS increased its stake in QEP Resources by 74.6% during the 4th quarter. Oslo Asset Management AS now owns 6,157,390 shares of the pipeline company’s stock valued at $34,666,000 after buying an additional 2,630,852 shares during the period. Two Sigma Investments LP acquired a new position in QEP Resources during the 4th quarter valued at about $7,400,000. Finally, Nomura Holdings Inc. increased its stake in QEP Resources by 70.3% during the 4th quarter. Nomura Holdings Inc. now owns 2,422,200 shares of the pipeline company’s stock valued at $13,611,000 after buying an additional 1,000,012 shares during the period. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

QEP has been the topic of several research analyst reports. ValuEngine raised shares of QEP Resources from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. SunTrust Banks set a $8.00 target price on shares of QEP Resources and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Wells Fargo & Co reissued a “hold” rating on shares of QEP Resources in a research note on Friday, April 12th. Finally, Zacks Investment Research cut shares of QEP Resources from a “buy” rating to a “hold” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $11.75.

Shares of QEP opened at $7.37 on Friday. The company has a market capitalization of $1.75 billion, a PE ratio of -43.35 and a beta of 2.09. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.59 and a current ratio of 0.59. QEP Resources Inc has a 12-month low of $5.00 and a 12-month high of $13.77.

QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The company had revenue of $280.60 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) EPS. As a group, research analysts forecast that QEP Resources Inc will post 0.48 EPS for the current fiscal year.

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QEP Resources Profile

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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