QEP Resources Inc. (NYSE:QEP) has earned an average rating of “Buy” from the seventeen research firms that are presently covering the firm. Three research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $23.18.

Several brokerages recently issued reports on QEP. Zacks Investment Research raised QEP Resources from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, June 29th. Barclays PLC raised QEP Resources from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $17.00 to $22.00 in a research report on Wednesday, August 3rd. Drexel Hamilton reissued a “buy” rating and issued a $33.00 price objective on shares of QEP Resources in a research report on Wednesday, June 22nd. Simmons raised QEP Resources from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $20.00 to $24.00 in a research report on Wednesday, June 15th. Finally, Deutsche Bank AG boosted their price objective on QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th.

Shares of QEP Resources (NYSE:QEP) traded up 3.43% on Wednesday, hitting $19.00. The company had a trading volume of 4,049,756 shares. The firm’s market capitalization is $4.55 billion. The company has a 50 day moving average price of $18.84 and a 200 day moving average price of $17.61. QEP Resources has a 1-year low of $8.54 and a 1-year high of $20.96.

QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.12. The company had revenue of $333.70 million for the quarter, compared to analysts’ expectations of $362.17 million. QEP Resources had a negative return on equity of 4.04% and a negative net margin of 67.39%. QEP Resources’s quarterly revenue was down 41.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. On average, equities analysts forecast that QEP Resources will post ($1.19) earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in QEP. Wellington Management Group LLP raised its position in shares of QEP Resources by 33.9% in the first quarter. Wellington Management Group LLP now owns 27,715,828 shares of the company’s stock worth $391,071,000 after buying an additional 7,013,529 shares in the last quarter. Vanguard Group Inc. raised its position in shares of QEP Resources by 19.2% in the second quarter. Vanguard Group Inc. now owns 17,482,358 shares of the company’s stock worth $308,213,000 after buying an additional 2,810,845 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of QEP Resources by 21.7% in the second quarter. BlackRock Fund Advisors now owns 8,498,031 shares of the company’s stock worth $149,820,000 after buying an additional 1,515,475 shares in the last quarter. State Street Corp raised its position in shares of QEP Resources by 3.8% in the second quarter. State Street Corp now owns 7,808,443 shares of the company’s stock worth $137,666,000 after buying an additional 287,527 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of QEP Resources by 9.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,372,496 shares of the company’s stock worth $112,347,000 after buying an additional 546,750 shares in the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

About QEP Resources

QEP Resources, Inc (QEP) is a holding company with two subsidiaries, QEP Energy Company and QEP Marketing Company, which are engaged in two primary lines of business: oil and gas exploration and production (QEP Energy), and oil and gas marketing, operation of a gas gathering system and an underground gas storage facility, and corporate activities (QEP Marketing and Other).

5 Day Chart for NYSE:QEP

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