QEP Resources, Inc. (QEP) Position Increased by Principal Financial Group Inc.

QEP Resources, Inc. (QEP) Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of QEP Resources, Inc. (NYSE:QEP) by 6.4% during the third quarter, Holdings Channel reports. The firm owned 948,754 shares of the company’s stock after buying an additional 57,095 shares during the period. Principal Financial Group Inc. owned 0.40% of QEP Resources worth $18,530,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. ClariVest Asset Management LLC purchased a new stake in shares of QEP Resources during the second quarter valued at about $105,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of QEP Resources by 8,263.0% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 6,774 shares of the company’s stock valued at $132,000 after buying an additional 6,693 shares during the period. Advisors Asset Management Inc. increased its stake in shares of QEP Resources by 41.9% in the third quarter. Advisors Asset Management Inc. now owns 7,097 shares of the company’s stock valued at $139,000 after buying an additional 2,097 shares during the period. Wright Investors Service Inc. purchased a new stake in shares of QEP Resources during the second quarter valued at about $183,000. Finally, Raymond James Trust N.A. purchased a new stake in shares of QEP Resources during the third quarter valued at about $204,000. Institutional investors and hedge funds own 90.59% of the company’s stock.

QEP Resources, Inc. (NYSE:QEP) traded down 2.31% during mid-day trading on Friday, hitting $18.16. 1,061,738 shares of the company’s stock were exchanged. The stock’s market cap is $4.35 billion. QEP Resources, Inc. has a 12 month low of $9.17 and a 12 month high of $21.12. The stock’s 50 day moving average price is $18.72 and its 200-day moving average price is $18.32.

QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, October 26th. The company reported ($0.21) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.03. The company had revenue of $382.40 million for the quarter. QEP Resources had a negative net margin of 79.57% and a negative return on equity of 5.55%. The business’s quarterly revenue was down 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 earnings per share. Equities analysts expect that QEP Resources, Inc. will post ($1.18) EPS for the current fiscal year.

Several equities research analysts recently issued reports on the stock. Scotiabank upgraded shares of QEP Resources from an “outperform” rating to a “focus stock” rating and raised their target price for the company from $31.00 to $33.00 in a research note on Thursday, January 12th. Evercore ISI began coverage on shares of QEP Resources in a research report on Friday, October 7th. They set a “hold” rating and a $22.00 price objective for the company. Mizuho began coverage on shares of QEP Resources in a research report on Wednesday, October 5th. They set a “buy” rating and a $24.00 price objective for the company. Zacks Investment Research downgraded shares of QEP Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, October 19th. Finally, Goldman Sachs Group, Inc. (The) restated a “hold” rating and set a $21.00 price objective on shares of QEP Resources in a research report on Thursday, October 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $23.38.

About QEP Resources

QEP Resources, Inc (QEP) is a holding company with two subsidiaries, QEP Energy Company and QEP Marketing Company, which are engaged in two primary lines of business: oil and gas exploration and production (QEP Energy), and oil and gas marketing, operation of a gas gathering system and an underground gas storage facility, and corporate activities (QEP Marketing and Other).

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