QEP Resources (QEP) Downgraded by Zacks Investment Research to Hold

QEP Resources (NYSE:QEP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday.

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. However, the company, which derives its reserves/production from oil and natural gas, is exposed to volatile commodity prices. This is also reflected in the share price of the company which has declined about 58% over a year, underperforming the broader industry. Therefore, until oil and gas realizations improve further, we maintain a cautious stance on QEP shares.”

Several other equities analysts also recently commented on QEP. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $12.00 target price on shares of QEP Resources in a research report on Sunday, October 22nd. Mizuho reaffirmed a “hold” rating and issued a $11.00 target price on shares of QEP Resources in a research report on Friday, October 27th. SunTrust Banks reissued a “hold” rating and set a $9.00 price target on shares of QEP Resources in a research report on Wednesday, November 1st. Barclays downgraded QEP Resources from an “overweight” rating to an “equal weight” rating and set a $9.00 price target on the stock. in a research report on Tuesday, November 7th. Finally, BMO Capital Markets set a $11.00 price target on QEP Resources and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. QEP Resources has a consensus rating of “Hold” and an average target price of $12.59.

QEP Resources (NYSE QEP) traded up $0.17 during trading on Monday, hitting $7.68. The stock had a trading volume of 1,246,347 shares, compared to its average volume of 6,374,489. QEP Resources has a 52 week low of $7.02 and a 52 week high of $17.44. 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 capitalization of $1,870.00, a P/E ratio of -129.67, a price-to-earnings-growth ratio of 8.28 and a beta of 1.72.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QEP. Vanguard Group Inc. lifted its stake in QEP Resources by 1.1% during the second quarter. Vanguard Group Inc. now owns 20,078,248 shares of the pipeline company’s stock worth $202,790,000 after purchasing an additional 223,181 shares during the last quarter. Suntrust Banks Inc. lifted its stake 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 purchasing an additional 748 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in QEP Resources by 59.5% during the second quarter. Parametric Portfolio Associates LLC now owns 411,397 shares of the pipeline company’s stock worth $4,155,000 after purchasing an additional 153,478 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in QEP Resources by 77.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,548,695 shares of the pipeline company’s stock worth $45,941,000 after purchasing an additional 1,988,685 shares during the last quarter. Finally, State Street Corp lifted its stake in QEP Resources by 16.1% during the second quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock worth $108,526,000 after purchasing an additional 1,489,661 shares during the last quarter. Hedge funds and other institutional investors own 93.47% of the company’s stock.

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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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