Investors Sell QEP Resources Inc. (QEP) on Strength (QEP)
Traders 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 equities 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
Several research analysts have weighed in on QEP shares. Cantor Fitzgerald reiterated a “buy” rating on shares of QEP Resources in a research report on Wednesday, June 22nd. KLR Group reiterated a “buy” rating and set a $32.00 price objective (up previously from $31.00) on shares of QEP Resources in a research report on Tuesday, August 2nd. Barclays PLC upgraded QEP Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $17.00 to $22.00 in a research report on Wednesday, August 3rd. Simmons upgraded QEP Resources from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $20.00 to $24.00 in a research report on Wednesday, June 15th. Finally, BMO Capital Markets upgraded QEP Resources from a “market perform” rating to an “outperform” rating and increased their price objective 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 equities research 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 currently has an average rating of “Buy” and a consensus price target of $22.14.
The stock’s market cap is $4.61 billion. The company’s 50 day moving average price is $18.74 and its 200 day moving average price is $16.42.
QEP Resources (NYSE:QEP) last issued 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 firm had revenue of $333.70 million for the quarter, compared to analysts’ expectations of $362.17 million. During the same period in the prior year, the company earned $0.09 EPS. The firm’s quarterly revenue was down 41.9% on a year-over-year basis. On average, equities research analysts anticipate that QEP Resources Inc. will post ($1.18) EPS for the current fiscal year.
In other news, CEO Charles B. Stanley purchased 16,763 shares of the company’s stock in a transaction dated Thursday, June 30th. The shares were purchased at an average price of $17.85 per share, with a total value of $299,219.55. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.
An institutional investor recently bought a new position in QEP Resources stock. I.G. Investment Management LTD. purchased a new position in shares of QEP Resources Inc. (NYSE:QEP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 175,000 shares of the company’s stock, valued at approximately $2,345,000. I.G. Investment Management LTD. owned about 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).
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