Shares of QEP Resources Inc (NYSE:QEP) have been assigned a consensus rating of “Hold” from the seventeen ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $11.38.
A number of analysts have recently weighed in on QEP shares. ValuEngine lowered QEP Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. Wells Fargo & Co reissued a “hold” rating on shares of QEP Resources in a research note on Friday, April 12th. SunTrust Banks set a $8.00 price objective on QEP Resources and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Zacks Investment Research lowered QEP Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. lowered QEP Resources from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $11.00 to $9.00 in a research note on Friday, June 7th.
Several institutional investors have recently made changes to their positions in QEP. Rhumbline Advisers raised its holdings in shares of QEP Resources by 55.2% during the fourth quarter. Rhumbline Advisers now owns 624,755 shares of the pipeline company’s stock worth $3,517,000 after acquiring an additional 222,093 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in shares of QEP Resources during the fourth quarter worth $605,000. Boston Partners raised its holdings in shares of QEP Resources by 8.1% during the fourth quarter. Boston Partners now owns 658,533 shares of the pipeline company’s stock worth $3,708,000 after acquiring an additional 49,272 shares during the period. FDx Advisors Inc. raised its holdings in shares of QEP Resources by 11.2% during the fourth quarter. FDx Advisors Inc. now owns 20,771 shares of the pipeline company’s stock worth $117,000 after acquiring an additional 2,100 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of QEP Resources by 14.8% during the fourth quarter. California Public Employees Retirement System now owns 688,245 shares of the pipeline company’s stock worth $3,875,000 after acquiring an additional 88,616 shares during the period. Institutional investors own 99.22% of the company’s stock.
QEP traded down $0.04 during midday trading on Tuesday, hitting $5.97. The stock had a trading volume of 26,406 shares, compared to its average volume of 4,010,454. The stock has a market capitalization of $1.45 billion, a P/E ratio of -34.71 and a beta of 1.99. The company’s fifty day moving average is $6.90. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.59 and a current ratio of 0.59. QEP Resources has a 1 year low of $5.00 and a 1 year high of $13.77.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The business had revenue of $280.60 million during the quarter, compared to analyst estimates of $289.23 million. QEP Resources had a positive return on equity of 1.91% and a negative net margin of 60.23%. QEP Resources’s revenue for the quarter was down 34.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.20) earnings per share. On average, research analysts expect that QEP Resources will post 0.49 EPS for the current year.
QEP Resources Company Profile
QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.
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