Traders Buy Large Volume of Put Options on QEP Resources (QEP)

QEP Resources, Inc. (NYSE:QEP) was the target of unusually large options trading on Monday. Investors bought 3,916 put options on the stock. This is an increase of approximately 909% compared to the typical daily volume of 388 put options.

Shares of QEP Resources (NYSE QEP) opened at $10.97 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. QEP Resources has a 12-month low of $7.02 and a 12-month high of $18.91. The firm has a market cap of $2,621.37, a price-to-earnings ratio of -182.80 and a beta of 1.73.

QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.11. The firm had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.21) EPS. analysts anticipate that QEP Resources will post -0.43 earnings per share for the current year.

A number of large investors have recently bought and sold shares of QEP. Bank of New York Mellon Corp boosted its position in QEP Resources by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,956,582 shares of the pipeline company’s stock valued at $29,861,000 after buying an additional 32,618 shares during the last quarter. Legal & General Group Plc boosted its position in QEP Resources by 9.1% in the 2nd quarter. Legal & General Group Plc now owns 330,997 shares of the pipeline company’s stock valued at $3,343,000 after buying an additional 27,714 shares during the last quarter. Utah Retirement Systems boosted its position in QEP Resources by 0.5% in the 2nd quarter. Utah Retirement Systems now owns 43,794 shares of the pipeline company’s stock valued at $442,000 after buying an additional 200 shares during the last quarter. Pacer Advisors Inc. boosted its position in QEP Resources by 11.9% in the 2nd quarter. Pacer Advisors Inc. now owns 32,964 shares of the pipeline company’s stock valued at $333,000 after buying an additional 3,515 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in QEP Resources by 4.3% in the 2nd quarter. Principal Financial Group Inc. now owns 1,018,804 shares of the pipeline company’s stock valued at $10,290,000 after buying an additional 42,034 shares during the last quarter. 93.14% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on the company. Barclays boosted their price target on QEP Resources from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 11th. KLR Group restated a “buy” rating and set a $14.00 price objective (down from $15.00) on shares of QEP Resources in a research report on Wednesday, September 27th. BMO Capital Markets set a $11.00 price objective on QEP Resources and gave the stock a “buy” rating in a research report on Tuesday, October 10th. ValuEngine upgraded QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, Stifel Nicolaus cut their price target on QEP Resources from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. QEP Resources presently has a consensus rating of “Hold” and a consensus price target of $13.00.

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QEP Resources Company Profile

QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.

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