Monashee Investment Management adds QEP Resources Inc (QEP) to its portfolio

QEP Resources Inc (QEP) : Monashee Investment Management added new position in QEP Resources Inc during the most recent quarter end. The investment management firm now holds 200,000 shares of QEP Resources Inc which is valued at $3,658,000 , the company said in a statement filed on Aug 2, 2016 with the SEC.QEP Resources Inc makes up approximately 5.60% of Monashee Investment Management’s portfolio.

Other Hedge Funds, Including , Capital Fund Management S.a. added QEP to its portfolio by purchasing 237,518 company shares during the most recent quarter which is valued at $3,978,427. QEP Resources Inc makes up approx 0.07% of Capital Fund Management S.a.’s portfolio. Monarch Partners Asset Management added QEP to its portfolio by purchasing 603,890 company shares during the most recent quarter which is valued at $10,115,158. QEP Resources Inc makes up approx 0.99% of Monarch Partners Asset Management’s portfolio.Guinness Asset Management Ltd reduced its stake in QEP by selling 60,000 shares or 14.12% in the most recent quarter. The Hedge Fund company now holds 364,890 shares of QEP which is valued at $6,111,908. QEP Resources Inc makes up approx 1.67% of Guinness Asset Management Ltd’s portfolio.Cutler Group Lp reduced its stake in QEP by selling 4,885 shares or 48.92% in the most recent quarter. The Hedge Fund company now holds 5,100 shares of QEP which is valued at $89,658. QEP Resources Inc makes up approx 0.01% of Cutler Group Lp’s portfolio.

QEP Resources Inc opened for trading at $18.96 and hit $19.55 on the upside on Monday, eventually ending the session at $19.14, with a gain of 2.08% or 0.39 points. The heightened volatility saw the trading volume jump to 32,21,014 shares. Company has a market cap of $4,586 M.

On the company’s financial health, QEP Resources Inc reported $-0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.36. The company had revenue of $333.70 million for the quarter, compared to analysts expectations of $353.57 million. The company’s revenue was down -41.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.09 EPS.

Many Wall Street Analysts have commented on QEP Resources Inc. Company shares were Upgraded by Barclays on Aug 3, 2016 to ” Overweight”, Firm has raised the Price Target to $ 22 from a previous price target of $17 .FBR Capital Initiated QEP Resources Inc on Jul 21, 2016 to “Mkt Perform”, Price Target of the shares are set at $19.QEP Resources Inc was Upgraded by Piper Jaffray to ” Overweight” on Jun 15, 2016.

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 the Haynesville Gathering System and an underground gas storage facility (QEP Marketing and Other). The Company’s operations are focused in two geographic regions: the Northern Region (primarily in Wyoming North Dakota and Utah) and the Southern Region (primarily in Texas and Louisiana) of the United States. QEP Energy Company conducts exploration and production (E&P) activities in several of North America’s hydrocarbon resource plays. QEP Marketing Company provides wholesale marketing and sales of affiliate and third-party gas oil and natural gas liquids (NGL).

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