QEP Resources Inc. (QEP) Now Covered by Analysts at Evercore ISI
A number of other brokerages also recently issued reports on QEP. Cantor Fitzgerald reiterated a buy rating on shares of QEP Resources in a research report on Wednesday, June 22nd. KLR Group reiterated a buy rating and issued a $32.00 price objective (up previously from $31.00) on shares of QEP Resources in a research report on Tuesday, August 2nd. Goldman Sachs Group Inc. began coverage on QEP Resources in a research report on Thursday. They issued a neutral rating and a $21.00 price objective on the stock. Barclays PLC upgraded QEP Resources from an equal weight rating to an overweight rating and increased their price objective for the stock from $17.00 to $22.00 in a research report on Wednesday, August 3rd. Finally, Simmons upgraded QEP Resources from a neutral rating to an overweight rating and increased their price objective for the stock from $20.00 to $24.00 in a research report on Wednesday, June 15th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $22.38.
Shares of QEP Resources (NYSE:QEP) traded up 1.80% during midday trading on Friday, reaching $18.65. The company had a trading volume of 1,013,897 shares. QEP Resources has a one year low of $8.54 and a one year high of $20.96. The company has a 50 day moving average of $18.72 and a 200 day moving average of $17.66. The company’s market capitalization is $4.47 billion.
QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the 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 return on equity of 4.04% and a negative net margin of 67.39%. The business’s quarterly revenue was down 41.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 earnings per share. Analysts predict that QEP Resources will post ($1.19) EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake 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 during the last quarter. Vanguard Group Inc. increased its stake 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 during the last quarter. Point72 Asset Management L.P. increased its stake in shares of QEP Resources by 589.3% in the second quarter. Point72 Asset Management L.P. now owns 3,053,788 shares of the company’s stock worth $53,838,000 after buying an additional 2,610,788 shares during the last quarter. Norges Bank acquired a new stake in shares of QEP Resources during the fourth quarter worth about $34,055,000. Finally, Renaissance Technologies LLC increased its stake in shares of QEP Resources by 314.5% in the first quarter. Renaissance Technologies LLC now owns 2,436,700 shares of the company’s stock worth $34,382,000 after buying an additional 1,848,900 shares during 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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