QEP Resources (NYSE:QEP) announced its earnings results on Wednesday. The pipeline company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.17, Bloomberg Earnings reports. QEP Resources had a negative net margin of 52.34% and a negative return on equity of 0.73%. The firm had revenue of $280.60 million during the quarter, compared to analyst estimates of $289.23 million. During the same period in the prior year, the business earned ($0.20) EPS. The company’s revenue for the quarter was down 34.6% compared to the same quarter last year.

Shares of QEP Resources stock traded down $0.49 during trading hours on Thursday, reaching $7.56. 4,834,174 shares of the company’s stock were exchanged, compared to its average volume of 5,542,952. QEP Resources has a fifty-two week low of $5.00 and a fifty-two week high of $13.77. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.84 and a quick ratio of 0.84. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -44.47 and a beta of 2.14.

QEP has been the subject of a number of recent research reports. Wells Fargo & Co restated a “hold” rating on shares of QEP Resources in a research note on Friday, April 12th. Raymond James set a $12.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. ValuEngine upgraded shares of QEP Resources from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research upgraded shares of QEP Resources from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research note on Thursday, January 17th. Finally, SunTrust Banks set a $8.00 price objective on shares of QEP Resources and gave the stock a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $11.75.

A number of large investors have recently modified their holdings of QEP. Bank of New York Mellon Corp lifted its stake in QEP Resources by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,017,871 shares of the pipeline company’s stock valued at $45,482,000 after purchasing an additional 155,272 shares during the last quarter. FMR LLC lifted its stake in QEP Resources by 16.1% in the 3rd quarter. FMR LLC now owns 2,670,837 shares of the pipeline company’s stock valued at $30,234,000 after purchasing an additional 370,157 shares during the last quarter. United Services Automobile Association lifted its stake in QEP Resources by 17.7% in the 3rd quarter. United Services Automobile Association now owns 43,330 shares of the pipeline company’s stock valued at $491,000 after purchasing an additional 6,516 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in QEP Resources by 298.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 10,550 shares of the pipeline company’s stock valued at $119,000 after purchasing an additional 7,899 shares during the last quarter. Finally, BlueMountain Capital Management LLC acquired a new stake in QEP Resources in the 3rd quarter valued at about $755,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

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QEP Resources Company Profile

QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.

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Earnings History for QEP Resources (NYSE:QEP)

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