QR Energy Rating Increased to Outperform at Zacks (QRE)
QR Energy (NYSE:QRE) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Friday. The firm currently has a $21.60 price target on the stock. Zacks‘s price target points to a potential upside of 7.20% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of QR Energy in a research note on Friday. They set an “outperform” rating on the stock. Separately, analysts at Raymond James downgraded shares of QR Energy from an “outperform” rating to a “market perform” rating in a research note on Friday. Finally, analysts at TheStreet downgraded shares of QR Energy from a “buy” rating to a “hold” rating in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.94.
Shares of QR Energy (NYSE:QRE) traded down 2.14% during mid-day trading on Friday, hitting $20.15. 1,336,975 shares of the company’s stock traded hands. QR Energy has a 52 week low of $16.10 and a 52 week high of $20.85. The stock has a 50-day moving average of $18.5 and a 200-day moving average of $18.02. The company’s market cap is $1.307 billion.
QR Energy (NYSE:QRE) last posted its quarterly earnings results on Thursday, July 24th. The company reported ($1.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $1.36. The company had revenue of $133.30 million for the quarter, compared to the consensus estimate of $130.30 million. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that QR Energy will post $1.13 EPS for the current fiscal year.
QR Energy, LP (NYSE:QRE) is engaged in the acquisition, exploitation, development and production of oil and natural gas properties, and the Company’s business activities are conducted through OLLC, its wholly owned subsidiary.
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