QEP Resources Inc. (QEP) Receives $23.42 Average PT from Brokerages
QEP Resources Inc. (NYSE:QEP) has been assigned a consensus rating of “Buy” from the eighteen research firms that are covering the company. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.42.
QEP has been the topic of several analyst reports. KLR Group reiterated a “buy” rating and issued a $32.00 target price (up from $31.00) on shares of QEP Resources in a report on Tuesday, August 2nd. Mizuho started coverage on QEP Resources in a report on Wednesday, October 5th. They issued a “buy” rating and a $24.00 target price on the stock. Goldman Sachs Group Inc. reissued a “hold” rating and issued a $21.00 price target on shares of QEP Resources in a research note on Thursday, October 6th. Zacks Investment Research lowered QEP Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Finally, Evercore ISI started coverage on QEP Resources in a research note on Friday, October 7th. They issued a “hold” rating and a $22.00 price target on the stock.
Shares of QEP Resources (NYSE:QEP) opened at 17.11 on Wednesday. The firm’s 50-day moving average is $17.62 and its 200 day moving average is $18.14. QEP Resources has a one year low of $8.54 and a one year high of $20.96. The firm’s market capitalization is $4.10 billion.
QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, October 26th. The company reported ($0.21) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.03. The company had revenue of $382.40 million for the quarter. QEP Resources had a negative return on equity of 5.55% and a negative net margin of 79.57%. The business’s revenue for the quarter was down 24.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 earnings per share. Equities research analysts predict that QEP Resources will post ($1.17) earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in QEP. BOKF NA increased its position in shares of QEP Resources by 16.3% in the third quarter. BOKF NA now owns 147,324 shares of the company’s stock worth $2,877,000 after buying an additional 20,681 shares during the period. Pacer Advisors Inc. acquired a new position in shares of QEP Resources during the third quarter worth about $444,000. Principal Financial Group Inc. increased its position in shares of QEP Resources by 6.4% in the third quarter. Principal Financial Group Inc. now owns 948,754 shares of the company’s stock worth $18,530,000 after buying an additional 57,095 shares during the period. Quadrature Capital Ltd increased its position in shares of QEP Resources by 320.4% in the third quarter. Quadrature Capital Ltd now owns 114,580 shares of the company’s stock worth $2,239,000 after buying an additional 87,322 shares during the period. Finally, Northern Trust Corp increased its position in shares of QEP Resources by 1.7% in the third quarter. Northern Trust Corp now owns 2,193,328 shares of the company’s stock worth $42,836,000 after buying an additional 37,011 shares during the period. 88.89% of the stock is owned by institutional investors and hedge funds.
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).
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