Richard J. Doleshek Acquires 25,000 Shares of QEP Resources Inc (NYSE:QEP) Stock

QEP Resources Inc (NYSE:QEP) CFO Richard J. Doleshek purchased 25,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $3.50 per share, with a total value of $87,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 533,723 shares of the company’s stock, valued at $1,868,030.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of QEP stock opened at $3.51 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 0.72. QEP Resources Inc has a 52-week low of $3.39 and a 52-week high of $12.05. The company has a market capitalization of $946.89 million, a PE ratio of 26.53 and a beta of 1.92. The business’s fifty day moving average is $5.15 and its 200 day moving average is $6.90.

QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, August 7th. The pipeline company reported ($0.04) earnings per share (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 quarter last year, the business posted $0.06 EPS. The company’s quarterly revenue was down 44.4% on a year-over-year basis. On average, sell-side analysts forecast that QEP Resources Inc will post 0.31 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be given 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 dividend yield of 2.28%. QEP Resources’s dividend payout ratio (DPR) is presently -47.06%.

QEP has been the subject of a number of analyst reports. Tudor Pickering lowered QEP Resources from a “buy” rating to a “hold” rating in a report on Friday, June 7th. Oppenheimer lowered QEP Resources from an “outperform” rating to a “market perform” rating and set a $7.25 price target for the company. in a report on Tuesday, July 9th. Raymond James lowered QEP Resources from a “strong-buy” rating to a “market perform” rating in a report on Thursday, August 8th. Williams Capital reaffirmed a “hold” rating and issued a $5.00 price target on shares of QEP Resources in a report on Thursday. Finally, ValuEngine raised QEP Resources from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. QEP Resources has a consensus rating of “Hold” and a consensus target price of $9.30.

Several hedge funds have recently modified their holdings of QEP. Dimensional Fund Advisors LP grew its stake in QEP Resources by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,055,887 shares of the pipeline company’s stock valued at $101,655,000 after purchasing an additional 803,139 shares in the last quarter. Norges Bank acquired a new stake in QEP Resources during the 4th quarter worth approximately $19,230,000. Mercer Global Advisors Inc. ADV acquired a new stake in QEP Resources during the 1st quarter worth approximately $1,300,000. BNP Paribas Arbitrage SA lifted its holdings in QEP Resources by 102.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 147,646 shares of the pipeline company’s stock worth $1,150,000 after purchasing an additional 74,869 shares during the last quarter. Finally, World Asset Management Inc lifted its holdings in QEP Resources by 25.3% during the 1st quarter. World Asset Management Inc now owns 18,002 shares of the pipeline company’s stock worth $140,000 after purchasing an additional 3,636 shares during the last quarter.

QEP Resources Company 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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