QEP Resources, Inc. (QEP) Receives Consensus Recommendation of “Hold” from Analysts
QEP Resources, Inc. (NYSE:QEP) has earned a consensus recommendation of “Hold” from the seventeen brokerages that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $17.54.
Several research firms have commented on QEP. Credit Suisse Group began coverage on shares of QEP Resources in a research note on Thursday, June 1st. They set a “neutral” rating and a $15.00 price target on the stock. Wolfe Research assumed coverage on shares of QEP Resources in a research note on Thursday, June 15th. They issued a “market perform” rating on the stock. Cowen and Company set a $12.00 target price on shares of QEP Resources and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Barclays PLC reaffirmed an “overweight” rating and issued a $16.00 target price (down from $20.00) on shares of QEP Resources in a research note on Saturday, April 22nd. Finally, KLR Group lifted their target price on shares of QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, April 28th.
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Shares of QEP Resources (NYSE QEP) opened at 9.27 on Tuesday. QEP Resources has a 12-month low of $8.58 and a 12-month high of $21.12. The company’s market capitalization is $2.23 billion. The firm’s 50-day moving average is $9.53 and its 200-day moving average is $12.72.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, April 26th. The pipeline company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.07. The firm had revenue of $420.10 million for the quarter, compared to the consensus estimate of $402.16 million. QEP Resources had a negative net margin of 19.81% and a negative return on equity of 4.78%. The business’s revenue was up 60.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.53) earnings per share. On average, equities analysts predict that QEP Resources will post ($0.76) EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Pitcairn Co. increased its position in shares of QEP Resources by 1.9% in the first quarter. Pitcairn Co. now owns 12,949 shares of the pipeline company’s stock valued at $164,000 after buying an additional 239 shares during the last quarter. Sei Investments Co. boosted its stake in QEP Resources by 0.5% in the first quarter. Sei Investments Co. now owns 60,648 shares of the pipeline company’s stock valued at $771,000 after buying an additional 273 shares during the period. Teacher Retirement System of Texas boosted its stake in QEP Resources by 1.6% in the first quarter. Teacher Retirement System of Texas now owns 19,043 shares of the pipeline company’s stock valued at $242,000 after buying an additional 307 shares during the period. Capstone Asset Management Co. boosted its stake in QEP Resources by 1.7% in the second quarter. Capstone Asset Management Co. now owns 19,267 shares of the pipeline company’s stock valued at $195,000 after buying an additional 320 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its stake in QEP Resources by 0.3% in the first quarter. Municipal Employees Retirement System of Michigan now owns 111,020 shares of the pipeline company’s stock valued at $1,411,000 after buying an additional 330 shares during the period. 92.46% 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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