QEP Resources Receives New Coverage from Analysts at Canaccord Genuity (QEP)
Research analysts at Canaccord Genuity began coverage on shares of QEP Resources (NYSE:QEP) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating on the stock.
The analysts wrote, “QEP is still in the midst of a transition from natural gas to oil production. We are encouraged by its oil results thus far in the Williston Basin, but we feel that the stock is still too weighted to its Haynesville/Rockies/MidContinent natural gas plays, two of which are relatively high cost. The high debt load is also a concern.”
Shares of QEP Resources (NYSE:QEP) traded down 0.25% on Tuesday, hitting $28.11. The stock had a trading volume of 411,359 shares. QEP Resources has a 52 week low of $25.99 and a 52 week high of $33.50. The stock has a 50-day moving average of $29.5 and a 200-day moving average of $29.61. The company has a market cap of $5.040 billion and a P/E ratio of 34.24.
QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, July 31st. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.35 by $0.01. The company had revenue of $751.00 million for the quarter, compared to the consensus estimate of $823.93 million. During the same quarter last year, the company posted $0.31 earnings per share. QEP Resources’s revenue was up 50.4% compared to the same quarter last year. Analysts expect that QEP Resources will post $1.53 EPS for the current fiscal year.
QEP has been the subject of a number of other recent research reports. Analysts at Robert W. Baird cut their price target on shares of QEP Resources from $37.00 to $36.00 in a research note to investors on Friday, August 2nd. They now have an “outperform” rating on the stock. Separately, analysts at Simmons initiated coverage on shares of QEP Resources in a research note to investors on Tuesday, July 9th. They set an “overweight” rating on the stock. Finally, analysts at Ned Davis Research downgraded shares of QEP Resources from a “neutral” rating to a “sell” rating in a research note to investors on Monday, July 8th.
One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. QEP Resources has an average rating of “Buy” and an average price target of $37.85.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 6th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Friday, August 16th.
QEP Resources, Inc (NYSE:QEP) is a holding company.
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