QEP Resources Inc. (QEP) Given “Hold” Rating at Goldman Sachs Group Inc.
QEP Resources Inc. (NYSE:QEP)‘s stock had its “hold” rating reaffirmed by analysts at Goldman Sachs Group Inc. in a research report issued on Thursday. They presently have a $21.00 price objective on the stock. Goldman Sachs Group Inc.’s price target indicates a potential upside of 10.64% from the stock’s previous close.
QEP has been the subject of several other research reports. KLR Group reiterated a “buy” rating and issued a $27.00 target price (up previously from $25.00) on shares of QEP Resources in a research report on Thursday, June 30th. FBR & Co reiterated a “marketperform” rating on shares of QEP Resources in a research report on Wednesday, July 20th. Mizuho assumed coverage on QEP Resources in a research report on Wednesday. They issued a “buy” rating for the company. Barclays PLC lifted their target price on QEP Resources from $13.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 14th. Finally, Zacks Investment Research lowered QEP Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $22.29.
Shares of QEP Resources (NYSE:QEP) opened at 18.98 on Thursday. The firm has a 50-day moving average price of $18.81 and a 200 day moving average price of $17.62. The firm’s market cap is $4.55 billion. QEP Resources has a 12-month low of $8.54 and a 12-month high of $20.96.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.12. The company earned $333.70 million during the quarter, compared to analyst estimates of $362.17 million. QEP Resources had a negative return on equity of 4.04% and a negative net margin of 67.39%. The business’s revenue was down 41.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS. On average, equities research analysts anticipate that QEP Resources will post ($1.19) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in QEP. ClariVest Asset Management LLC acquired a new position in shares of QEP Resources during the second quarter worth about $105,000. Quantbot Technologies LP acquired a new position in shares of QEP Resources during the second quarter worth about $119,000. Wright Investors Service Inc. acquired a new position in shares of QEP Resources during the second quarter worth about $183,000. MUFG Americas Holdings Corp increased its stake in QEP Resources by 201.4% in the second quarter. MUFG Americas Holdings Corp now owns 11,255 shares of the company’s stock worth $198,000 after buying an additional 7,521 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake in QEP Resources by 461.3% in the second quarter. Meeder Asset Management Inc. now owns 12,428 shares of the company’s stock worth $220,000 after buying an additional 10,214 shares in the last quarter. Institutional investors own 87.51% of the company’s stock.
QEP Resources Company Profile
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).
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