QR Energy Sets New 12-Month High at $21.98 (QRE)
QR Energy (NYSE:QRE)’s share price hit a new 52-week high during mid-day trading on Tuesday , Analyst Ratings Network.com reports. The stock traded as high as $21.98 and last traded at $21.90, with a volume of 202,650 shares. The stock had previously closed at $21.63.
A number of research firms have recently commented on QRE. Analysts at Zacks downgraded shares of QR Energy from an “outperform” rating to a “neutral” rating in a research note on Monday, August 25th. They now have a $22.60 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of QR Energy in a research note on Tuesday, July 29th. They now have a $21.50 price target on the stock, up previously from $18.00. Finally, analysts at Wunderlich upgraded shares of QR Energy from a “hold” rating to a “buy” rating in a research note on Monday, July 28th. They now have a $24.50 price target on the stock, up previously from $18.00. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.10.
The stock’s 50-day moving average is $20.10 and its 200-day moving average is $18.58. The company’s market cap is $1.412 billion.
QR Energy (NYSE:QRE) last released its earnings data on Thursday, July 24th. The company reported ($1.05) earnings per share for the quarter, missing the analysts’ 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. QR Energy’s revenue was up 8.7% compared to the same quarter last year. Analysts expect that QR Energy will post $1.22 EPS for the current fiscal year.
The company also recently announced a sep 14 dividend, which is scheduled for Monday, September 15th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $0.1625 per share. This represents a dividend yield of 9.02%. The ex-dividend date is Friday, September 5th.
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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