QEP Resources, Inc. (QEP) Price Target Raised to $9.00
QEP Resources, Inc. (NYSE:QEP) had its price target boosted by analysts at Barclays PLC from $8.00 to $9.00 in a research report issued to clients and investors on Wednesday. The firm presently has an “overweight” rating on the pipeline company’s stock. Barclays PLC’s price target would indicate a potential upside of 0.45% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on QEP. Stifel Nicolaus dropped their target price on QEP Resources from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, September 26th. ValuEngine raised QEP Resources from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. BMO Capital Markets set a $11.00 target price on QEP Resources and gave the stock a “buy” rating in a report on Tuesday. KLR Group reissued a “buy” rating and set a $14.00 target price (down previously from $15.00) on shares of QEP Resources in a report on Wednesday, September 27th. Finally, J P Morgan Chase & Co downgraded QEP Resources from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $11.00 to $9.00 in a report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. QEP Resources presently has an average rating of “Buy” and a consensus price target of $14.93.
Shares of QEP Resources (QEP) traded up 0.45% during midday trading on Wednesday, reaching $9.00. 2,293,113 shares of the company’s stock traded hands. QEP Resources has a 52-week low of $7.02 and a 52-week high of $21.12. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 90.00 and a beta of 1.71. The stock has a 50 day moving average of $8.02 and a 200-day moving average of $9.58.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.08. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The business had revenue of $383.70 million during the quarter, compared to the consensus estimate of $413.27 million. During the same quarter last year, the firm posted ($0.23) EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. On average, equities research analysts expect that QEP Resources will post ($0.59) EPS for the current year.
In other QEP Resources news, Director Julie Dill bought 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were purchased at an average price of $8.49 per share, for a total transaction of $42,450.00. Following the completion of the transaction, the director now directly owns 5,525 shares in the company, valued at approximately $46,907.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David A. Trice bought 25,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $7.20 per share, for a total transaction of $180,000.00. Following the transaction, the director now owns 40,000 shares of the company’s stock, valued at $288,000. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 42,500 shares of company stock valued at $321,325. 1.36% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. grew its position in 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 acquiring an additional 327,342 shares during the last quarter. Mitchell Group Inc. grew its position in QEP Resources by 63.8% in the second quarter. Mitchell Group Inc. now owns 1,870,290 shares of the pipeline company’s stock valued at $18,890,000 after acquiring an additional 728,590 shares during the last quarter. Amalgamated Bank grew its position in 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 acquiring an additional 1,355 shares during the last quarter. Arizona State Retirement System grew its position in QEP Resources by 1.7% in the second quarter. Arizona State Retirement System now owns 101,400 shares of the pipeline company’s stock valued at $1,024,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Paloma Partners Management Co grew its position in 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 acquiring an additional 15,632 shares during the last quarter. Hedge funds and other institutional investors 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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