Zacks Investment Research upgraded shares of QEP Resources (NYSE:QEP) from a hold rating to a buy rating in a report released on Friday morning. They currently have $12.00 price objective on the pipeline company’s stock.
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.”
Other analysts have also recently issued research reports about the stock. Barclays boosted their target price on shares of QEP Resources from $8.00 to $9.00 and gave the company an overweight rating in a report on Wednesday, October 11th. KLR Group restated a buy rating and set a $14.00 target price (down previously from $15.00) on shares of QEP Resources in a report on Wednesday, September 27th. BMO Capital Markets set a $11.00 target price on shares of QEP Resources and gave the company a buy rating in a report on Tuesday, October 10th. ValuEngine upgraded shares of QEP Resources from a strong sell rating to a sell rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus dropped their target price on shares of QEP Resources from $26.00 to $23.00 and set a buy rating on the stock in a report on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $12.75.
Shares of QEP Resources (NYSE QEP) traded up $0.11 during trading on Friday, reaching $11.09. 4,868,526 shares of the company’s stock were exchanged, compared to its average volume of 4,194,729. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. The stock has a market cap of $2,645.47, a P/E ratio of -184.80 and a beta of 1.73. QEP Resources has a fifty-two week low of $7.02 and a fifty-two week high of $18.92.
QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, beating the Zacks’ 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 firm had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $393.87 million. During the same quarter 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. sell-side analysts expect that QEP Resources will post -0.43 EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in QEP Resources by 1.0% in the 2nd quarter. BlackRock Inc. now owns 20,160,805 shares of the pipeline company’s stock worth $203,623,000 after purchasing an additional 208,195 shares in the last quarter. Vanguard Group Inc. boosted its stake in QEP Resources by 1.1% in the 2nd 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 in the last quarter. State Street Corp boosted its stake in QEP Resources by 16.1% in the 2nd 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in QEP Resources by 47.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock worth $57,549,000 after purchasing an additional 2,166,476 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in QEP Resources by 21.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 4,032,265 shares of the pipeline company’s stock worth $34,557,000 after purchasing an additional 716,265 shares in the last quarter. Institutional investors own 93.14% 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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