Stock Traders Buy High Volume of QEP Resources Call Options (QEP)

Share on StockTwits

QEP Resources Inc (NYSE:QEP) was the recipient of unusually large options trading on Thursday. Traders acquired 10,037 call options on the stock. This represents an increase of approximately 2,650% compared to the typical volume of 365 call options.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lombard Odier Asset Management USA Corp purchased a new stake in QEP Resources in the first quarter valued at approximately $779,000. FMR LLC increased its holdings in shares of QEP Resources by 1.8% in the first quarter. FMR LLC now owns 2,252,517 shares of the pipeline company’s stock valued at $17,547,000 after purchasing an additional 40,383 shares during the period. Wealthsource Partners LLC acquired a new position in shares of QEP Resources in the first quarter valued at approximately $490,000. CWM Advisors LLC increased its holdings in shares of QEP Resources by 45.9% in the first quarter. CWM Advisors LLC now owns 21,905 shares of the pipeline company’s stock valued at $171,000 after purchasing an additional 6,887 shares during the period. Finally, BlueCrest Capital Management Ltd increased its holdings in shares of QEP Resources by 93.0% in the first quarter. BlueCrest Capital Management Ltd now owns 62,485 shares of the pipeline company’s stock valued at $487,000 after purchasing an additional 30,112 shares during the period. Institutional investors own 99.22% of the company’s stock.

Shares of NYSE QEP opened at $7.48 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.59 and a quick ratio of 0.59. QEP Resources has a twelve month low of $5.00 and a twelve month high of $13.77. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -44.00 and a beta of 2.09.

QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.17. QEP Resources had a positive return on equity of 1.91% and a negative net margin of 60.23%. The company had revenue of $280.60 million during the quarter, compared to analysts’ expectations of $289.23 million. During the same quarter in the previous year, the business earned ($0.20) earnings per share. The firm’s revenue for the quarter was down 34.6% on a year-over-year basis. As a group, sell-side analysts anticipate that QEP Resources will post 0.48 earnings per share for the current year.

Several research firms recently weighed in on QEP. Zacks Investment Research cut QEP Resources from a “buy” rating to a “hold” rating in a research note on Wednesday. SunTrust Banks set a $8.00 target price on QEP Resources and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. ValuEngine cut QEP Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. Finally, Wells Fargo & Co restated a “hold” rating on shares of QEP Resources in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $11.75.

ILLEGAL ACTIVITY WARNING: “Stock Traders Buy High Volume of QEP Resources Call Options (QEP)” was originally published by Macon Daily and is owned by of Macon Daily. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://macondaily.com/2019/05/24/stock-traders-buy-high-volume-of-qep-resources-call-options-qep.html.

About QEP Resources

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.

Further Reading: How can investors find ex-dividend dates?

Receive News & Ratings for QEP Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QEP Resources and related companies with MarketBeat.com's FREE daily email newsletter.