ValuEngine Downgrades QEP Resources Inc (QEP) to Strong Sell
QEP Resources Inc (NYSE:QEP) was downgraded by research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Friday.
Other equities research analysts have also recently issued reports about the stock. Cowen and Company set a $12.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a report on Friday, August 25th. National Securities started coverage on shares of QEP Resources in a report on Monday, July 31st. They issued a “buy” rating and a $11.00 price objective for the company. Barclays PLC reiterated a “buy” rating and issued a $10.00 price objective on shares of QEP Resources in a report on Friday, July 7th. BMO Capital Markets reiterated a “buy” rating and issued a $11.00 price objective on shares of QEP Resources in a report on Tuesday, June 27th. Finally, Deutsche Bank AG cut shares of QEP Resources from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $18.00 to $13.00 in a report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $16.53.
QEP Resources (NYSE:QEP) opened at 7.21 on Friday. The firm’s 50 day moving average price is $7.75 and its 200-day moving average price is $10.47. QEP Resources has a 52 week low of $7.02 and a 52 week high of $21.12. The firm’s market cap is $1.73 billion.
QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.08. The firm had revenue of $383.70 million during the quarter, compared to analysts’ expectations of $413.27 million. QEP Resources had a net margin of 11.83% and a return on equity of 5.05%. QEP Resources’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.23) earnings per share. On average, analysts forecast that QEP Resources will post ($0.60) EPS for the current year.
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In related news, Director Julie Dill bought 5,000 shares of QEP Resources stock in a transaction that occurred on Friday, July 28th. The stock was acquired at an average price of $8.49 per share, for a total transaction of $42,450.00. Following the completion of the purchase, the director now owns 5,525 shares in the company, valued at $46,907.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Trice bought 25,000 shares of QEP Resources stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average price of $7.20 per share, with a total value of $180,000.00. Following the purchase, the director now owns 40,000 shares of the company’s stock, valued at approximately $288,000. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 42,500 shares of company stock valued at $321,325. 1.36% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund lifted its stake in shares of QEP Resources by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 84,517 shares of the pipeline company’s stock valued at $1,074,000 after buying an additional 1,200 shares during the period. Amalgamated Bank lifted its stake in shares of QEP Resources by 3.9% in the first quarter. Amalgamated Bank now owns 35,909 shares of the pipeline company’s stock valued at $456,000 after buying an additional 1,355 shares during the period. Paloma Partners Management Co lifted its stake in shares of QEP Resources by 13.3% in the first quarter. Paloma Partners Management Co now owns 133,439 shares of the pipeline company’s stock valued at $1,696,000 after buying an additional 15,632 shares during the period. OppenheimerFunds Inc. lifted its stake in shares of QEP Resources by 72.1% in the first quarter. OppenheimerFunds Inc. now owns 25,695 shares of the pipeline company’s stock valued at $327,000 after buying an additional 10,761 shares during the period. Finally, Marshall Wace North America L.P. lifted its stake in shares of QEP Resources by 213.8% in the second quarter. Marshall Wace North America L.P. now owns 480,416 shares of the pipeline company’s stock valued at $4,804,000 after buying an additional 327,342 shares during the period. Institutional investors and hedge funds own 93.21% of the company’s stock.
QEP Resources Company Profile
QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.
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