QEP Resources Inc. (QEP) Coverage Initiated by Analysts at Goldman Sachs Group Inc.
Several other equities analysts have also recently commented on the stock. Wells Fargo & Co. restated a market perform rating on shares of QEP Resources in a research report on Wednesday, July 6th. BMO Capital Markets upgraded shares of QEP Resources from a market perform rating to an outperform rating and boosted their target price for the company from $18.00 to $24.00 in a research report on Monday, July 18th. They noted that the move was a valuation call. FBR & Co initiated coverage on shares of QEP Resources in a research report on Thursday, July 21st. They issued a market perform rating and a $19.00 target price for the company. KLR Group restated a buy rating and issued a $32.00 target price (up from $31.00) on shares of QEP Resources in a research report on Tuesday, August 2nd. Finally, Barclays PLC boosted their target price on shares of QEP Resources from $13.00 to $17.00 and gave the company an equal weight rating in a research report on Thursday, July 14th. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $22.40.
QEP Resources (NYSE:QEP) traded down 1.60% during mid-day trading on Thursday, hitting $18.47. 1,408,941 shares of the stock traded hands. The company has a 50 day moving average price of $18.78 and a 200-day moving average price of $17.62. QEP Resources has a one year low of $8.54 and a one year high of $20.96. The stock’s market capitalization is $4.43 billion.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.12. The company earned $333.70 million during the quarter, compared to analysts’ expectations of $362.17 million. QEP Resources had a negative net margin of 67.39% and a negative return on equity of 4.04%. The business’s revenue for the quarter was down 41.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 EPS. Equities analysts anticipate that QEP Resources will post ($1.19) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. First Mercantile Trust Co. purchased a new stake in QEP Resources during the third quarter valued at about $462,000. 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 valued at $721,000 after buying an additional 7,940 shares during the period. Mason Street Advisors LLC bought a new stake in shares of QEP Resources during the second quarter valued at $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 valued at $1,510,000 after buying an additional 12,625 shares during the period. Finally, 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 valued at $12,368,000 after buying an additional 199,401 shares during the period. Hedge funds and other 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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