FBR & Co Equities Analysts Decrease Earnings Estimates for QEP Resources Inc. (QEP)
QEP Resources Inc. (NYSE:QEP) – Equities research analysts at FBR & Co dropped their Q3 2016 EPS estimates for QEP Resources in a report issued on Monday. FBR & Co analyst C. Mabry now expects that the firm will earn ($0.21) per share for the quarter, down from their prior forecast of ($0.20). FBR & Co has a “Marketperform” rating on the stock. FBR & Co also issued estimates for QEP Resources’ Q4 2016 earnings at ($0.22) EPS, FY2016 earnings at ($1.19) EPS, Q1 2017 earnings at ($0.23) EPS, Q2 2017 earnings at ($0.23) EPS, Q3 2017 earnings at ($0.22) EPS, Q4 2017 earnings at ($0.21) EPS and FY2017 earnings at ($0.89) EPS.
Other analysts have also recently issued reports about the company. Goldman Sachs Group Inc. assumed coverage on QEP Resources in a report on Thursday. They issued a “neutral” rating for the company. Simmons raised QEP Resources from a “neutral” rating to an “overweight” rating and raised their price target for the company from $20.00 to $24.00 in a report on Wednesday, June 15th. Zacks Investment Research raised QEP Resources from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, June 29th. Drexel Hamilton reissued a “buy” rating and issued a $33.00 price target on shares of QEP Resources in a report on Wednesday, June 22nd. Finally, BMO Capital Markets raised QEP Resources from a “market perform” rating to an “outperform” rating and raised their price target for the company from $18.00 to $24.00 in a report on Monday, July 18th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. QEP Resources presently has a consensus rating of “Buy” and an average price target of $22.40.
QEP Resources (NYSE:QEP) opened at 18.77 on Thursday. The stock’s market capitalization is $4.50 billion. QEP Resources has a 1-year low of $8.54 and a 1-year high of $20.96. The stock has a 50 day moving average of $18.78 and a 200 day moving average of $17.62.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.12. The firm had revenue of $333.70 million for the quarter, compared to the consensus estimate of $362.17 million. QEP Resources had a negative net margin of 67.39% and a negative return on equity of 4.04%. The company’s revenue for the quarter was down 41.9% on a year-over-year basis. During the same period last year, the firm posted $0.09 earnings per share.
Large investors have recently made changes to their positions in the stock. Northwestern Mutual Investment Management Company LLC increased its stake in shares of QEP Resources by 24.1% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 40,872 shares of the company’s stock worth $721,000 after buying an additional 7,940 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in shares of QEP Resources during the second quarter worth approximately $1,886,000. Public Employees Retirement System of Ohio increased its stake in shares of QEP Resources by 17.3% in the second quarter. Public Employees Retirement System of Ohio now owns 85,627 shares of the company’s stock worth $1,510,000 after buying an additional 12,625 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of QEP Resources by 39.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 701,529 shares of the company’s stock worth $12,368,000 after buying an additional 199,401 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of QEP Resources by 48.9% in the second quarter. Amalgamated Bank now owns 29,333 shares of the company’s stock worth $563,000 after buying an additional 9,629 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.
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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