QR Energy Given New $19.00 Price Target at Citigroup Inc. (QRE)
Analysts at Citigroup Inc. cut their price target on shares of QR Energy (NYSE:QRE) from $20.00 to $19.00 in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm currently has a “neutral” rating on the stock. Citigroup Inc.’s price target indicates a potential upside of 7.77% from the stock’s previous close.
Shares of QR Energy (NYSE:QRE) traded down 3.46% on Thursday, hitting $17.02. The stock had a trading volume of 576,144 shares. QR Energy has a one year low of $14.76 and a one year high of $18.95. The stock has a 50-day moving average of $18.21 and a 200-day moving average of $17.54. The company has a market cap of $1.102 billion and a price-to-earnings ratio of 40.72.
QR Energy (NYSE:QRE) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($2.86) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.30 by $3.16. The company had revenue of $122.60 million for the quarter, compared to the consensus estimate of $126.09 million. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Analysts expect that QR Energy will post $1.42 EPS for the current fiscal year.
The company also recently declared a may 14 dividend, which is scheduled for Wednesday, May 14th. Investors of record on Thursday, May 8th will be given a dividend of $0.1625 per share. This represents a yield of 10.66%. The ex-dividend date of this dividend is Tuesday, May 6th.
Several other analysts have also recently commented on the stock. Analysts at Wunderlich downgraded shares of QR Energy from a “buy” rating to a “hold” rating in a research note on Thursday. They now have a $18.00 price target on the stock, down previously from $20.00. Separately, analysts at Robert W. Baird downgraded shares of QR Energy from an “outperform” rating to a “neutral” rating in a research note on Thursday. They now have a $19.00 price target on the stock, down previously from $20.00. Finally, analysts at Bank of America reiterated a “neutral” rating on shares of QR Energy in a research note on Monday. They now have a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. QR Energy presently has a consensus rating of “Hold” and a consensus target price of $19.74.
QR Energy, LP (NYSE:QRE) owns and acquires producing oil and natural gas properties in North America.
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