QEP Resources, Inc. (QEP) Lowered to Strong Sell at ValuEngine
QEP Resources, Inc. (NYSE:QEP) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday.
Several other analysts have also recently issued reports on QEP. J P Morgan Chase & Co cut shares of QEP Resources from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $11.00 to $9.00 in a research note on Thursday, July 27th. National Securities began coverage on shares of QEP Resources in a research note on Monday, July 31st. They set a “buy” rating and a $11.00 price objective for the company. BidaskClub cut shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Cowen and Company set a $12.00 price objective on shares of QEP Resources and gave the company a “buy” rating in a research note on Wednesday, July 19th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $11.00 price objective on shares of QEP Resources in a research note on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. QEP Resources presently has an average rating of “Hold” and a consensus price target of $16.53.
QEP Resources (NYSE:QEP) opened at 7.21 on Friday. QEP Resources has a one year low of $7.02 and a one year high of $21.12. The company’s market cap is $1.73 billion. The company has a 50 day moving average of $7.75 and a 200-day moving average of $10.47.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.08. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The company had revenue of $383.70 million during the quarter, compared to analysts’ expectations of $413.27 million. During the same quarter in the prior year, the company earned ($0.23) EPS. QEP Resources’s revenue was up 15.0% compared to the same quarter last year. On average, equities analysts expect that QEP Resources will post ($0.60) earnings per share for the current fiscal year.
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In related news, Director Julie Dill acquired 5,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were purchased at an average cost of $8.49 per share, for a total transaction of $42,450.00. Following the acquisition, the director now owns 5,525 shares in the company, valued at approximately $46,907.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Richard J. Doleshek acquired 12,500 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was bought at an average price of $7.91 per share, for a total transaction of $98,875.00. Following the completion of the acquisition, 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. In the last three months, insiders bought 42,500 shares of company stock valued at $321,325. Corporate insiders own 1.36% of the company’s stock.
Several hedge funds have recently modified their holdings of QEP. Commerce Bank acquired a new position in shares of QEP Resources in the 2nd quarter worth approximately $102,000. Suntrust Banks Inc. lifted its holdings in shares of QEP Resources by 5.8% in the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after acquiring an additional 748 shares during the last quarter. Pitcairn Co. lifted its holdings in shares of QEP Resources by 4.3% in the 2nd quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after acquiring an additional 563 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in shares of QEP Resources by 4.4% in the 1st quarter. Flinton Capital Management LLC now owns 13,040 shares of the pipeline company’s stock worth $166,000 after acquiring an additional 544 shares during the last quarter. Finally, Parkwood LLC acquired a new position in shares of QEP Resources in the 2nd quarter worth approximately $191,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.
QEP Resources Company Profile
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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