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

QEP Resources (NYSE:QEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $8.75 price target on the pipeline company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 17.29% from the stock’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.”

QEP has been the topic of a number of other reports. SunTrust Banks reiterated a “hold” rating and issued a $9.00 price objective on shares of QEP Resources in a research report on Wednesday, November 1st. Mizuho set a $15.00 price target on QEP Resources and gave the company a “buy” rating in a research note on Tuesday, January 16th. ValuEngine downgraded QEP Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. 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. Finally, BMO Capital Markets set a $11.00 price target on QEP Resources and gave the company a “buy” rating in a research note on Tuesday, November 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $12.54.

Shares of QEP Resources (QEP) traded down $0.34 on Tuesday, reaching $7.46. The company’s stock had a trading volume of 1,827,277 shares, compared to its average volume of 6,417,426. The company has a market cap of $1,809.42, a price-to-earnings ratio of -125.15, a price-to-earnings-growth ratio of 8.28 and a beta of 1.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.54. QEP Resources has a 52-week low of $7.02 and a 52-week high of $17.44.

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. raised its stake in 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. Rhumbline Advisers raised its stake in QEP Resources by 8.9% during the 3rd 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 period. PEAK6 Investments L.P. raised its stake in QEP Resources by 167.1% during the 3rd 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 period. Oslo Asset Management AS acquired a new stake in QEP Resources during the 3rd quarter worth $10,041,000. Finally, Rothschild Asset Management Inc. raised its stake in QEP Resources by 48.3% during the 3rd quarter. Rothschild Asset Management Inc. now owns 656,217 shares of the pipeline company’s stock worth $5,624,000 after buying an additional 213,836 shares during the period. 93.47% of the stock is currently owned by institutional investors and hedge funds.

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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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