Q2 2017 EPS Estimates for QEP Resources, Inc. (NYSE:QEP) Cut by Analyst
QEP Resources, Inc. (NYSE:QEP) – Stock analysts at Capital One Financial Corporation decreased their Q2 2017 earnings per share estimates for QEP Resources in a report released on Thursday. Capital One Financial Corporation analyst B. Velie now forecasts that the pipeline company will post earnings per share of ($0.24) for the quarter, down from their previous forecast of ($0.19). Capital One Financial Corporation also issued estimates for QEP Resources’ Q3 2017 earnings at ($0.24) EPS, Q4 2017 earnings at ($0.25) EPS and FY2017 earnings at ($0.88) EPS.
A number of other research firms also recently commented on QEP. Stifel Nicolaus began coverage on QEP Resources in a research report on Wednesday, April 12th. They issued a “buy” rating and a $21.00 target price on the stock. FBR & Co set a $20.00 target price on QEP Resources and gave the stock a “buy” rating in a research report on Saturday, April 15th. Barclays PLC reiterated an “overweight” rating and issued a $16.00 target price (down from $20.00) on shares of QEP Resources in a research report on Saturday, April 22nd. KLR Group boosted their target price on QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, Credit Suisse Group began coverage on QEP Resources in a research report on Thursday, June 1st. They issued a “neutral” rating and a $15.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. QEP Resources currently has an average rating of “Hold” and a consensus target price of $17.54.
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QEP Resources (NYSE QEP) opened at 9.22 on Monday. The stock’s 50 day moving average price is $9.57 and its 200 day moving average price is $12.90. QEP Resources has a 12 month low of $8.58 and a 12 month high of $21.12. The company’s market capitalization is $2.22 billion.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, April 26th. The pipeline company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.07. The firm had revenue of $420.10 million for the quarter, compared to analyst estimates of $402.16 million. QEP Resources had a negative return on equity of 4.78% and a negative net margin of 19.81%. The company’s revenue was up 60.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.53) EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in QEP. Wellington Management Group LLP boosted its position in shares of QEP Resources by 10.0% in the first quarter. Wellington Management Group LLP now owns 22,993,414 shares of the pipeline company’s stock valued at $292,247,000 after buying an additional 2,097,855 shares during the period. BlackRock Inc. raised its stake in QEP Resources by 12,055.6% in the first quarter. BlackRock Inc. now owns 19,952,610 shares of the pipeline company’s stock worth $253,598,000 after buying an additional 19,788,467 shares in the last quarter. Vanguard Group Inc. raised its stake in QEP Resources by 4.9% in the first quarter. Vanguard Group Inc. now owns 19,855,067 shares of the pipeline company’s stock worth $252,357,000 after buying an additional 922,357 shares in the last quarter. Boston Partners raised its stake in QEP Resources by 47.8% in the first quarter. Boston Partners now owns 13,088,348 shares of the pipeline company’s stock worth $166,353,000 after buying an additional 4,231,442 shares in the last quarter. Finally, State Street Corp raised its stake in QEP Resources by 10.5% in the first quarter. State Street Corp now owns 9,255,582 shares of the pipeline company’s stock worth $117,640,000 after buying an additional 883,124 shares in the last quarter. 92.27% of the stock is currently owned by 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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