QEP Resources’ (QEP) “Hold” Rating Reaffirmed at Mizuho
QEP Resources, Inc. (NYSE:QEP)‘s stock had its “hold” rating reiterated by investment analysts at Mizuho in a research note issued on Friday. They presently have a $11.00 target price on the pipeline company’s stock. Mizuho’s target price would indicate a potential upside of 27.76% from the stock’s previous close.
Several other equities analysts have also issued reports on QEP. Piper Jaffray Companies reissued a “buy” rating and issued a $12.00 price target on shares of QEP Resources in a research note on Sunday, October 22nd. Stifel Nicolaus dropped their price target on QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, September 26th. Barclays PLC dropped their price target on QEP Resources from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 26th. KLR Group reissued a “buy” rating and issued a $14.00 price target (down from $15.00) on shares of QEP Resources in a research note on Wednesday, September 27th. Finally, J P Morgan Chase & Co lowered QEP Resources from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $11.00 to $9.00 in a research note on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $14.79.
QEP Resources (NYSE QEP) traded up 6.69% during mid-day trading on Friday, reaching $8.61. The company had a trading volume of 6,054,063 shares. The firm’s 50-day moving average is $8.34 and its 200-day moving average is $9.24. The firm’s market capitalization is $2.07 billion. QEP Resources has a one year low of $7.02 and a one year high of $21.12.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.11. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The firm had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. During the same period in the previous year, the firm earned ($0.21) earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that QEP Resources will post ($0.55) earnings per share for the current fiscal year.
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In related news, Director David A. Trice purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average price of $7.20 per share, for a total transaction of $180,000.00. Following the completion of the acquisition, the director now owns 40,000 shares of the company’s stock, valued at approximately $288,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.36% of the company’s stock.
A number of institutional investors have recently made changes to their positions in QEP. Commerce Bank bought a new stake in QEP Resources during the second quarter worth $102,000. Suntrust Banks Inc. grew its holdings in QEP Resources by 5.8% during the second quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after buying an additional 748 shares in the last quarter. Pitcairn Co. grew its holdings in QEP Resources by 4.3% during the second quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after buying an additional 563 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in QEP Resources during the third quarter worth $179,000. Finally, Parkwood LLC bought a new stake in QEP Resources during the second quarter worth $191,000. Institutional investors and hedge funds own 93.10% 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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