Investors Sell QEP Resources Inc. (QEP) on Strength (QEP)
Investors sold shares of QEP Resources Inc. (NYSE:QEP) on strength during trading on Friday. $5.29 million flowed into the stock on the tick-up and $25.97 million flowed out of the stock on the tick-down, for a money net flow of $20.68 million out of the stock. Of all companies tracked, QEP Resources had the 0th highest net out-flow for the day. QEP Resources traded up $0.15 for the day and closed at $19.22
A number of research analysts have weighed in on the stock. FBR & Co assumed coverage on shares of QEP Resources in a research report on Thursday, July 21st. They set a “market perform” rating and a $19.00 price target on the stock. Simmons raised shares of QEP Resources from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $20.00 to $24.00 in a research report on Wednesday, June 15th. Zacks Investment Research raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Wednesday, June 29th. Drexel Hamilton reissued a “buy” rating and set a $33.00 target price on shares of QEP Resources in a research report on Wednesday, June 22nd. Finally, BMO Capital Markets raised shares of QEP Resources from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $18.00 to $24.00 in a research report on Monday, July 18th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $22.14.
The firm’s market capitalization is $4.61 billion. The firm’s 50 day moving average is $18.74 and its 200-day moving average is $16.42.
QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.12. The firm earned $333.70 million during the quarter, compared to analyst estimates of $362.17 million. The company’s quarterly revenue was down 41.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 EPS. Equities research analysts forecast that QEP Resources Inc. will post ($1.18) EPS for the current year.
In other news, CEO Charles B. Stanley acquired 16,763 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were purchased at an average price of $17.85 per share, for a total transaction of $299,219.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A hedge fund recently bought a new stake in QEP Resources stock. I.G. Investment Management LTD. bought a new position in QEP Resources Inc. (NYSE:QEP) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 175,000 shares of the company’s stock, valued at approximately $2,345,000. I.G. Investment Management LTD. owned approximately 0.10% of QEP Resources as of its most recent SEC filing.
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).