QEP Resources, Inc. (QEP) Lifted to Sell at ValuEngine
ValuEngine upgraded shares of QEP Resources, Inc. (NYSE:QEP) from a strong sell rating to a sell rating in a report released on Monday morning.
Several other analysts have also recently weighed in on the company. Cowen and Company set a $12.00 price objective on QEP Resources and gave the stock a buy rating in a report on Friday, August 25th. Deutsche Bank AG cut QEP Resources from a buy rating to a hold rating and dropped their price objective for the stock from $18.00 to $13.00 in a report on Tuesday, July 18th. Barclays PLC reissued a buy rating and set a $10.00 price objective on shares of QEP Resources in a report on Friday, July 7th. Wolfe Research started coverage on QEP Resources in a report on Thursday, June 15th. They set a market perform rating for the company. Finally, BidaskClub raised QEP Resources from a strong sell rating to a sell rating in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $15.69.
QEP Resources (NYSE QEP) opened at 8.50 on Monday. The firm’s market cap is $2.04 billion. QEP Resources has a 52 week low of $7.02 and a 52 week high of $21.12. The stock has a 50 day moving average of $7.82 and a 200 day moving average of $9.70.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ 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 negative return on equity of 4.24% and a negative net margin of 3.90%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.23) EPS. Analysts anticipate that QEP Resources will post ($0.60) EPS for the current year.
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In other QEP Resources news, Director Julie Dill bought 5,000 shares of the stock in a transaction that occurred on Friday, July 28th. The stock was acquired at an average cost of $8.49 per share, with a total value of $42,450.00. Following the purchase, the director now owns 5,525 shares in the company, valued at $46,907.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David A. Trice bought 25,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $7.20 per share, with a total value of $180,000.00. Following the completion of the purchase, the director now owns 40,000 shares in the company, valued at approximately $288,000. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 42,500 shares of company stock valued at $321,325. 1.36% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commerce Bank bought a new stake in QEP Resources during the 2nd quarter worth approximately $102,000. Suntrust Banks Inc. increased its stake in QEP Resources by 5.4% during the 1st quarter. Suntrust Banks Inc. now owns 12,788 shares of the pipeline company’s stock worth $161,000 after purchasing an additional 651 shares in the last quarter. Pitcairn Co. increased its stake in QEP Resources by 4.3% during the 2nd quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after purchasing an additional 563 shares in the last quarter. M&T Bank Corp increased its stake in QEP Resources by 19.6% during the 1st quarter. M&T Bank Corp now owns 18,658 shares of the pipeline company’s stock worth $237,000 after purchasing an additional 3,064 shares in the last quarter. Finally, Parkwood LLC bought a new stake in QEP Resources during the 2nd quarter worth approximately $191,000. 93.21% of the stock is owned by institutional investors and hedge funds.
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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