Wallington Asset Management Lowers stake in QEP Resources Inc (QEP)

QEP Resources Inc (QEP) : Wallington Asset Management reduced its stake in QEP Resources Inc by 2.71% during the most recent quarter end. The investment management company now holds a total of 33,807 shares of QEP Resources Inc which is valued at $618,330 after selling 940 shares in QEP Resources Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.QEP Resources Inc makes up approximately 0.19% of Wallington Asset Management’s portfolio.

Other Hedge Funds, Including , Rothschild Asset Management Inc added QEP to its portfolio by purchasing 328,700 company shares during the most recent quarter which is valued at $6,011,923. QEP Resources Inc makes up approx 0.11% of Rothschild Asset Management Inc’s portfolio.Spot Trading L.l.c boosted its stake in QEP in the latest quarter, The investment management firm added 27,095 additional shares and now holds a total of 41,474 shares of QEP Resources Inc which is valued at $758,559. QEP Resources Inc makes up approx 0.10% of Spot Trading L.l.c’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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