Brokers Issue Forecasts for QEP Resources, Inc.’s FY2017 Earnings (QEP)
QEP Resources, Inc. (NYSE:QEP) – Stock analysts at SunTrust Banks upped their FY2017 earnings per share (EPS) estimates for QEP Resources in a research report issued on Monday. SunTrust Banks analyst N. Dingmann now forecasts that the pipeline company will earn ($0.49) per share for the year, up from their previous forecast of ($0.64). SunTrust Banks has a “Hold” rating and a $9.00 price objective on the stock. SunTrust Banks also issued estimates for QEP Resources’ Q4 2017 earnings at ($0.12) EPS, FY2018 earnings at ($0.14) EPS, FY2019 earnings at ($0.77) EPS and FY2020 earnings at $0.21 EPS.
A number of other analysts have also issued reports on QEP. ValuEngine lowered QEP Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 8th. J P Morgan Chase & Co lowered QEP Resources from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $11.00 to $9.00 in a report on Thursday, July 27th. Stifel Nicolaus cut their target price on QEP Resources from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, September 26th. Cowen and Company set a $12.00 target price on QEP Resources and gave the stock a “buy” rating in a research report on Wednesday, July 19th. Finally, Barclays PLC lifted their price objective on QEP Resources from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.40.
QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.11. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The company had revenue of $390.10 million during the quarter, compared to the consensus estimate of $393.87 million. During the same quarter in the prior year, the company posted ($0.21) EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year.
In other QEP Resources news, Director David A. Trice bought 25,000 shares of QEP Resources stock in a transaction on Thursday, August 17th. The shares were purchased at an average price of $7.20 per share, with a total value of $180,000.00. Following the acquisition, the director now owns 40,000 shares in the company, valued at approximately $288,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.36% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Commerce Bank bought a new position in shares of QEP Resources in the 2nd quarter worth about $102,000. Suntrust Banks Inc. raised its position 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 in the last quarter. Pitcairn Co. raised its position 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 in the last quarter. Bbva Compass Bancshares Inc. bought a new position in shares of QEP Resources in the 3rd quarter worth about $178,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of QEP Resources in the 3rd quarter worth about $179,000. 93.75% of the stock is owned by institutional investors and hedge funds.
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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