QEP Resources, Inc. (QEP) Receives Average Recommendation of “Buy” from Analysts
Shares of QEP Resources, Inc. (NYSE:QEP) have earned an average recommendation of “Buy” from the twenty ratings firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $14.19.
A number of research analysts have recently commented on QEP shares. Barclays PLC reissued a “buy” rating and set a $10.00 price objective on shares of QEP Resources in a report on Friday, July 7th. Deutsche Bank AG lowered QEP Resources from a “buy” rating to a “hold” rating and lowered their price objective for the company from $18.00 to $13.00 in a report on Tuesday, July 18th. Cowen and Company set a $12.00 price objective on QEP Resources and gave the company a “buy” rating in a report on Wednesday, July 19th. BidaskClub lowered QEP Resources from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, J P Morgan Chase & Co lowered QEP Resources from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $11.00 to $9.00 in a report on Thursday, July 27th.
In related news, Director David A. Trice bought 25,000 shares of the business’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 transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $288,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.36% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. lifted its position in shares of QEP Resources by 213.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 480,416 shares of the pipeline company’s stock worth $4,804,000 after buying an additional 327,342 shares during the period. Mitchell Group Inc. lifted its position in shares of QEP Resources by 63.8% during the 2nd quarter. Mitchell Group Inc. now owns 1,870,290 shares of the pipeline company’s stock worth $18,890,000 after buying an additional 728,590 shares during the period. Amalgamated Bank lifted its position in shares of QEP Resources by 3.9% during the 1st quarter. Amalgamated Bank now owns 35,909 shares of the pipeline company’s stock worth $456,000 after buying an additional 1,355 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of QEP Resources by 18.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 114,013 shares of the pipeline company’s stock worth $1,152,000 after buying an additional 17,642 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of QEP Resources by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 101,400 shares of the pipeline company’s stock worth $1,024,000 after buying an additional 1,700 shares during the period. Institutional investors and hedge funds own 93.75% of the company’s stock.
QEP Resources (NYSE:QEP) last issued 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. The business had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) EPS.
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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