QEP Resources, Inc. (QEP) Given Average Recommendation of “Hold” by Analysts
Shares of QEP Resources, Inc. (NYSE:QEP) have been assigned an average recommendation of “Hold” from the twenty analysts that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.53.
Several research analysts recently commented on QEP shares. Deutsche Bank AG downgraded shares of QEP Resources from a “buy” rating to a “hold” rating and cut their price objective for the stock from $18.00 to $13.00 in a report on Tuesday, July 18th. Barclays PLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of QEP Resources in a report on Friday, July 7th. Cowen and Company set a $12.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a report on Friday, August 25th. Credit Suisse Group started coverage on shares of QEP Resources in a report on Thursday, June 1st. They issued a “neutral” rating and a $15.00 price objective for the company. Finally, Wolfe Research started coverage on shares of QEP Resources in a report on Thursday, June 15th. They issued a “market perform” rating for the company.
In related news, Director Julie Dill acquired 5,000 shares of the stock in a transaction dated Friday, July 28th. The shares were purchased at an average price of $8.49 per share, for a total transaction of $42,450.00. Following the transaction, the director now owns 5,525 shares in the company, valued at approximately $46,907.25. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David A. Trice acquired 25,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $7.20 per share, for a total transaction of $180,000.00. Following the transaction, the director now owns 40,000 shares in the company, valued at approximately $288,000. The disclosure for this purchase can be found here. Insiders acquired a total of 42,500 shares of company stock worth $321,325 over the last quarter. Corporate insiders own 1.36% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Commerce Bank purchased a new stake in shares of QEP Resources during the 2nd quarter valued at $102,000. Suntrust Banks Inc. raised its position in shares of QEP Resources by 5.8% during the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock valued at $135,000 after buying an additional 748 shares in the last quarter. Pitcairn Co. raised its position in shares of QEP Resources by 4.3% during the 2nd quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock valued at $136,000 after buying an additional 563 shares in the last quarter. Flinton Capital Management LLC raised its position in shares of QEP Resources by 4.4% during the 1st quarter. Flinton Capital Management LLC now owns 13,040 shares of the pipeline company’s stock valued at $166,000 after buying an additional 544 shares in the last quarter. Finally, Parkwood LLC purchased a new stake in shares of QEP Resources during the 2nd quarter valued at $191,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.
Shares of QEP Resources (NYSE:QEP) opened at 7.64 on Wednesday. The firm’s 50-day moving average is $7.69 and its 200 day moving average is $10.32. QEP Resources has a 12 month low of $7.02 and a 12 month high of $21.12. The firm’s market capitalization is $1.84 billion.
QEP Resources (NYSE:QEP) last released its earnings results 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. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The firm had revenue of $383.70 million during the quarter, compared to the consensus estimate of $413.27 million. During the same period in the prior year, the firm earned ($0.23) EPS. The company’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts anticipate that QEP Resources will post ($0.60) EPS for the current year.
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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