QEP Resources (QEP) Upgraded by Zacks Investment Research to “Buy”

QEP Resources (NYSE:QEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $9.50 price objective on the pipeline company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 17.87% from the company’s current price.

According to Zacks, “With a diversified asset base, exposure to emerging plays and increased focus on the quality acreage of the prolific Permian Basin, this mid-cap onshore-focused E&P offers a compelling value. QEP Resources has maintained its excellent track record of earnings surprise history, beating estimates in each of the last eleven quarters. Since its split from Questar Corp. in 2010, QEP has established a strong track record of production growth, while maintaining a competitive cost structure that has enabled the company to maintain its margins amid low oil prices. With focus on operating efficiency, a robust balance sheet and ample liquidity, we believe QEP is well positioned going forward and view it as an attractive investment.”

Other research analysts also recently issued research reports about the company. SunTrust Banks reiterated a “hold” rating and set a $9.00 price target on shares of QEP Resources in a report on Wednesday, November 1st. Mizuho set a $15.00 price target on QEP Resources and gave the company a “buy” rating in a report on Tuesday, January 16th. BMO Capital Markets set a $11.00 price target on QEP Resources and gave the company a “buy” rating in a report on Tuesday, November 14th. Piper Jaffray Companies reiterated a “buy” rating and set a $12.00 price target on shares of QEP Resources in a report on Sunday, October 22nd. Finally, ValuEngine downgraded QEP Resources from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.59.

Shares of QEP Resources (QEP) traded down $0.37 during midday trading on Wednesday, hitting $8.06. The company had a trading volume of 3,821,832 shares, compared to its average volume of 6,026,210. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.52. The firm has a market cap of $2,055.18, a PE ratio of -134.98, a price-to-earnings-growth ratio of 94.78 and a beta of 1.72. QEP Resources has a twelve month low of $7.02 and a twelve month high of $17.58.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QEP. Raymond James Financial Services Advisors Inc. lifted its position in shares of QEP Resources by 18.3% in the second 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 last quarter. Rhumbline Advisers lifted its position in shares of QEP Resources by 8.9% in the third quarter. Rhumbline Advisers now owns 460,608 shares of the pipeline company’s stock worth $3,947,000 after buying an additional 37,825 shares during the last quarter. PEAK6 Investments L.P. lifted its position in shares of QEP Resources by 167.1% in the third quarter. PEAK6 Investments L.P. now owns 49,468 shares of the pipeline company’s stock worth $424,000 after buying an additional 123,194 shares during the last quarter. Oslo Asset Management AS acquired a new stake in shares of QEP Resources in the third quarter worth about $10,041,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of QEP Resources in the second quarter worth about $963,000. 93.41% of the stock is owned by hedge funds and other institutional investors.

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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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