QEP Resources Inc. (QEP) Stock Price Down 5.1%
QEP Resources Inc. (NYSE:QEP)’s share price traded down 5.1% during mid-day trading on Monday . The stock traded as low as $17.22 and last traded at $17.28, with a volume of 2,466,298 shares traded. The stock had previously closed at $18.20.
Several equities research analysts recently commented on QEP shares. Barclays PLC upgraded QEP Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $17.00 to $22.00 in a report on Wednesday. KLR Group reiterated a “buy” rating and issued a $32.00 price objective (up from $31.00) on shares of QEP Resources in a report on Tuesday. FBR & Co reiterated a “marketperform” rating on shares of QEP Resources in a report on Wednesday, July 20th. BMO Capital Markets upgraded QEP Resources from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $18.00 to $24.00 in a report on Monday, July 18th. They noted that the move was a valuation call. Finally, Wells Fargo & Co. reiterated a “market perform” rating on shares of QEP Resources in a report on Wednesday, July 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. QEP Resources has an average rating of “Buy” and a consensus target price of $23.12.
The company has a 50-day moving average price of $17.84 and a 200-day moving average price of $15.17. The firm’s market cap is $4.31 billion.
QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.12. The business earned $333.70 million during the quarter, compared to analysts’ expectations of $362.17 million. During the same quarter last year, the business posted $0.09 earnings per share. The company’s quarterly revenue was down 41.9% compared to the same quarter last year. Equities analysts anticipate that QEP Resources Inc. will post ($1.28) earnings per share for the current year.
In other QEP Resources news, CEO Charles B. Stanley purchased 16,763 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was bought at an average cost of $17.85 per share, for a total transaction of $299,219.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several hedge funds and institutional investors have recently made changes to their positions in QEP. Swiss National Bank boosted its position in shares of QEP Resources by 0.7% in the fourth quarter. Swiss National Bank now owns 232,800 shares of the company’s stock valued at $3,120,000 after buying an additional 1,600 shares during the last quarter. Sei Investments Co. boosted its position in shares of QEP Resources by 189,914.5% in the fourth quarter. Sei Investments Co. now owns 117,809 shares of the company’s stock valued at $1,579,000 after buying an additional 117,747 shares during the last quarter. Rhumbline Advisers boosted its position in shares of QEP Resources by 0.3% in the fourth quarter. Rhumbline Advisers now owns 247,541 shares of the company’s stock valued at $3,317,000 after buying an additional 706 shares during the last quarter. Comerica Bank boosted its position in shares of QEP Resources by 3.3% in the fourth quarter. Comerica Bank now owns 123,278 shares of the company’s stock valued at $1,474,000 after buying an additional 3,979 shares during the last quarter. Finally, BOKF NA boosted its position in shares of QEP Resources by 193.8% in the fourth quarter. BOKF NA now owns 74,963 shares of the company’s stock valued at $1,004,000 after buying an additional 49,447 shares during the last quarter.
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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