QEP Resources, Inc. (NYSE:QEP) was downgraded by equities researchers at Barclays PLC from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday.
Several other research analysts have also commented on the stock. Zacks Investment Research lowered shares of QEP Resources from a “buy” rating to a “hold” rating in a report on Monday. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $9.00 price target on shares of QEP Resources in a report on Wednesday, November 1st. Mizuho reaffirmed a “hold” rating and issued a $11.00 price target on shares of QEP Resources in a report on Friday, October 27th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $12.00 price target on shares of QEP Resources in a report on Sunday, October 22nd. Finally, BMO Capital Markets set a $11.00 price target on shares of QEP Resources and gave the company a “buy” rating in a report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. QEP Resources currently has a consensus rating of “Hold” and an average price target of $14.19.
QEP Resources (NYSE:QEP) opened at $10.34 on Tuesday. QEP Resources has a fifty-two week low of $7.02 and a fifty-two week high of $21.12. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.54 and a current ratio of 1.55.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.11. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The business had revenue of $390.10 million during the quarter, compared to analyst estimates of $393.87 million. During the same period in the previous year, the business posted ($0.21) EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. equities research analysts expect that QEP Resources will post -0.46 EPS for the current fiscal year.
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In related news, Director David A. Trice purchased 25,000 shares of QEP Resources stock in a transaction dated Thursday, August 17th. The stock was bought at an average cost of $7.20 per share, with a total value of $180,000.00. Following the purchase, the director now owns 40,000 shares in the company, valued at approximately $288,000. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.36% of the company’s stock.
Several large investors have recently modified their holdings of QEP. OppenheimerFunds Inc. lifted its stake in shares of QEP Resources by 72.1% in the 1st quarter. OppenheimerFunds Inc. now owns 25,695 shares of the pipeline company’s stock worth $327,000 after acquiring an additional 10,761 shares during the period. Morgan Stanley lifted its stake in shares of QEP Resources by 3.3% in the 1st quarter. Morgan Stanley now owns 1,247,035 shares of the pipeline company’s stock worth $15,850,000 after acquiring an additional 39,504 shares during the period. BlackRock Inc. lifted its stake in shares of QEP Resources by 12,055.6% in the 1st quarter. BlackRock Inc. now owns 19,952,610 shares of the pipeline company’s stock worth $253,598,000 after acquiring an additional 19,788,467 shares during the period. Amalgamated Bank lifted its stake in shares of QEP Resources by 3.9% in the 1st quarter. Amalgamated Bank now owns 35,909 shares of the pipeline company’s stock worth $456,000 after acquiring an additional 1,355 shares during the period. Finally, Credit Suisse AG raised its holdings in shares of QEP Resources by 89.9% in the 1st quarter. Credit Suisse AG now owns 672,434 shares of the pipeline company’s stock worth $8,546,000 after purchasing an additional 318,354 shares in the last quarter. 94.61% of the stock is owned by institutional investors.
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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