QEP Resources, Inc. (NYSE:QEP) has been given a $11.00 price target by stock analysts at BMO Capital Markets in a report released on Tuesday. The brokerage currently has a “buy” rating on the pipeline company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 25.71% from the stock’s current price.
QEP has been the subject of several other reports. Zacks Investment Research raised QEP Resources from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Thursday, November 2nd. SunTrust Banks, Inc. reaffirmed a “hold” rating and set a $9.00 price objective on shares of QEP Resources in a research note on Wednesday, November 1st. Barclays PLC decreased their price objective on QEP Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, September 26th. Cowen and Company set a $12.00 price objective on QEP Resources and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, Mizuho reaffirmed a “hold” rating and set a $11.00 price objective on shares of QEP Resources in a research note on Friday, October 27th. Two equities research 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 company. QEP Resources has an average rating of “Hold” and an average price target of $14.19.
Shares of QEP Resources (NYSE:QEP) opened at $8.75 on Tuesday. QEP Resources has a 52 week low of $7.02 and a 52 week high of $21.12. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52.
QEP Resources (NYSE:QEP) last released its 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. The company had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $393.87 million. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the firm earned ($0.21) EPS. sell-side analysts predict that QEP Resources will post -0.46 EPS for the current fiscal year.
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In other QEP Resources news, Director David A. Trice bought 25,000 shares of QEP Resources stock in a transaction on Thursday, August 17th. The shares were purchased at an average cost of $7.20 per share, for a total transaction of $180,000.00. Following the completion of the acquisition, 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 accessible through this link. Insiders own 1.36% of the company’s stock.
A number of hedge funds have recently bought and sold shares of QEP. OppenheimerFunds Inc. lifted its holdings in QEP Resources by 72.1% during the first quarter. OppenheimerFunds Inc. now owns 25,695 shares of the pipeline company’s stock worth $327,000 after acquiring an additional 10,761 shares in the last quarter. Capstone Asset Management Co. lifted its holdings in shares of QEP Resources by 1.7% in the second quarter. Capstone Asset Management Co. now owns 19,267 shares of the pipeline company’s stock valued at $195,000 after purchasing an additional 320 shares in the last quarter. Creative Planning lifted its holdings in shares of QEP Resources by 221.3% in the second quarter. Creative Planning now owns 111,539 shares of the pipeline company’s stock valued at $1,127,000 after purchasing an additional 76,823 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of QEP Resources by 4.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 88,205 shares of the pipeline company’s stock valued at $891,000 after purchasing an additional 3,688 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of QEP Resources by 12.7% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 3,316,000 shares of the pipeline company’s stock valued at $33,492,000 after purchasing an additional 373,250 shares in the last quarter. Hedge funds and other institutional investors own 89.49% of the company’s stock.
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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