QEP Resources, Inc. (QEP) Given Average Rating of “Hold” by Brokerages
QEP Resources, Inc. (NYSE:QEP) has been assigned a consensus rating of “Hold” from the nineteen brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $16.53.
QEP has been the subject of several recent analyst reports. Deutsche Bank AG lowered QEP Resources from a “buy” rating to a “hold” rating and cut their price target for the company from $18.00 to $13.00 in a research note on Tuesday, July 18th. Barclays PLC restated a “buy” rating and issued a $10.00 price target on shares of QEP Resources in a research note on Friday, July 7th. KLR Group lifted their price target on QEP Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Credit Suisse Group initiated 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. Finally, Wolfe Research initiated coverage on QEP Resources in a research note on Thursday, June 15th. They issued a “market perform” rating for the company.
Shares of QEP Resources (NYSE:QEP) opened at 7.44 on Friday. QEP Resources has a 52-week low of $7.02 and a 52-week high of $21.12. The company’s 50 day moving average price is $8.54 and its 200 day moving average price is $11.43. The company’s market capitalization is $1.79 billion.
QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.08. The business had revenue of $383.70 million during the quarter, compared to analyst estimates of $413.27 million. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) EPS. On average, analysts predict that QEP Resources will post ($0.62) EPS for the current year.
In other news, Director David A. Trice acquired 25,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was bought at an average cost of $7.20 per share, for a total transaction of $180,000.00. Following the purchase, the director now owns 40,000 shares in the company, valued at $288,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Richard J. Doleshek acquired 12,500 shares of the business’s stock in a transaction on Friday, July 28th. The shares were purchased at an average price of $7.91 per share, with a total value of $98,875.00. Following the completion of the purchase, the chief financial officer now owns 304,539 shares in the company, valued at approximately $2,408,903.49. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 42,500 shares of company stock valued at $321,325. 1.36% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its stake in QEP Resources by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 84,517 shares of the pipeline company’s stock valued at $1,074,000 after buying an additional 1,200 shares during the period. Amalgamated Bank raised its stake in QEP Resources by 3.9% in the first quarter. Amalgamated Bank now owns 35,909 shares of the pipeline company’s stock valued at $456,000 after buying an additional 1,355 shares during the period. Retirement Systems of Alabama raised its stake in QEP Resources by 4.5% in the first quarter. Retirement Systems of Alabama now owns 582,834 shares of the pipeline company’s stock valued at $7,408,000 after buying an additional 25,079 shares during the period. Paloma Partners Management Co raised its stake in QEP Resources by 13.3% in the first quarter. Paloma Partners Management Co now owns 133,439 shares of the pipeline company’s stock valued at $1,696,000 after buying an additional 15,632 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in QEP Resources by 72.1% in the first quarter. OppenheimerFunds Inc. now owns 25,695 shares of the pipeline company’s stock valued at $327,000 after buying an additional 10,761 shares during the period. Institutional investors own 91.91% of the company’s stock.
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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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