QEP Resources, Inc. (QEP) PT Set at $12.00 by Cowen and Company
QEP Resources, Inc. (NYSE:QEP) has been assigned a $12.00 target price by equities research analysts at Cowen and Company in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the pipeline company’s stock. Cowen and Company’s price objective indicates a potential upside of 23.46% from the company’s current price.
Several other equities analysts have also issued reports on the company. Deutsche Bank AG lowered QEP Resources from a “buy” rating to a “hold” rating and decreased their price target for the company from $18.00 to $13.00 in a research note on Tuesday. Barclays PLC reiterated a “buy” rating and issued a $10.00 price target on shares of QEP Resources in a research note on Friday, July 7th. BMO Capital Markets reiterated a “buy” rating and issued a $11.00 price target on shares of QEP Resources in a research note on Tuesday, June 27th. Wolfe Research began coverage on QEP Resources in a research note on Thursday, June 15th. They issued a “market perform” rating on the stock. Finally, BidaskClub upgraded QEP Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. QEP Resources has an average rating of “Hold” and an average price target of $17.54.
Shares of QEP Resources (NYSE QEP) traded up 7.76% during mid-day trading on Wednesday, reaching $9.72. The company’s stock had a trading volume of 7,367,396 shares. The firm has a 50 day moving average price of $9.59 and a 200 day moving average price of $12.93. The firm’s market cap is $2.34 billion. QEP Resources has a 52-week low of $8.58 and a 52-week high of $21.12.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, April 26th. The pipeline company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.07. QEP Resources had a negative return on equity of 4.78% and a negative net margin of 19.81%. The company had revenue of $420.10 million for the quarter, compared to analyst estimates of $402.16 million. During the same quarter last year, the company posted ($0.53) EPS. The company’s revenue for the quarter was up 60.8% compared to the same quarter last year. On average, equities analysts predict that QEP Resources will post ($0.74) EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of QEP Resources by 8.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,060 shares of the pipeline company’s stock valued at $756,000 after buying an additional 3,340 shares during the last quarter. Norges Bank acquired a new position in shares of QEP Resources during the fourth quarter worth about $35,383,000. Teachers Advisors LLC increased its position in shares of QEP Resources by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 888,226 shares of the pipeline company’s stock worth $16,352,000 after buying an additional 21,633 shares in the last quarter. Highbridge Capital Management LLC increased its position in shares of QEP Resources by 189.3% in the fourth quarter. Highbridge Capital Management LLC now owns 1,305,405 shares of the pipeline company’s stock worth $24,032,000 after buying an additional 854,188 shares in the last quarter. Finally, Thompson Rubinstein Investment Management Inc. OR increased its position in shares of QEP Resources by 25.7% in the first quarter. Thompson Rubinstein Investment Management Inc. OR now owns 186,454 shares of the pipeline company’s stock worth $2,370,000 after buying an additional 38,096 shares in the last quarter. 92.27% of the stock is currently owned by hedge funds and other institutional investors.
About QEP Resources
QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.
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