QEP Resources, Inc. (QEP) Issues Earnings Results, Beats Estimates By $0.08 EPS
QEP Resources, Inc. (NYSE:QEP) issued its quarterly earnings data on Wednesday. The pipeline company reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.08, Bloomberg Earnings reports. The firm had revenue of $383.70 million during the quarter, compared to the consensus estimate of $413.27 million. QEP Resources had a negative return on equity of 4.78% and a negative net margin of 19.81%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.23) EPS.
Shares of QEP Resources (NYSE:QEP) traded up 0.76% during mid-day trading on Wednesday, hitting $9.27. The stock had a trading volume of 10,043,657 shares. The firm’s 50-day moving average price is $9.53 and its 200 day moving average price is $12.72. QEP Resources has a 12-month low of $8.58 and a 12-month high of $21.12. The stock’s market cap is $2.23 billion.
A number of research analysts recently commented on QEP shares. Stifel Nicolaus started coverage on QEP Resources in a research note on Wednesday, April 12th. They set a “buy” rating and a $21.00 price objective for the company. KLR Group increased their price target on QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Credit Suisse Group started coverage on QEP Resources in a research note on Thursday, June 1st. They issued a “neutral” rating and a $15.00 price target for the company. Barclays PLC reissued an “overweight” rating and issued a $16.00 price target (down previously from $20.00) on shares of QEP Resources in a research note on Saturday, April 22nd. Finally, Wolfe Research started coverage on QEP Resources in a research note on Thursday, June 15th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. QEP Resources has a consensus rating of “Hold” and a consensus target price of $17.54.
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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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