QEP Resources Inc. (QEP) Given “Hold” Rating at Goldman Sachs Group Inc.
QEP Resources Inc. (NYSE:QEP)‘s stock had its “hold” rating reiterated by Goldman Sachs Group Inc. in a note issued to investors on Thursday. They currently have a $21.00 price target on the stock. Goldman Sachs Group Inc.’s price target points to a potential upside of 10.64% from the stock’s previous close.
Several other equities analysts have also recently commented on QEP. Deutsche Bank AG upped their price target on QEP Resources from $22.00 to $23.00 and gave the company a “buy” rating in a report on Tuesday, June 14th. Piper Jaffray Cos. raised QEP Resources from a “neutral” rating to an “overweight” rating in a report on Tuesday, June 14th. Simmons raised QEP Resources from a “neutral” rating to an “overweight” rating and upped their price target for the company from $20.00 to $24.00 in a report on Wednesday, June 15th. Drexel Hamilton reaffirmed a “buy” rating and issued a $33.00 price target on shares of QEP Resources in a report on Wednesday, June 22nd. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of QEP Resources in a report on Wednesday, June 22nd. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $22.29.
Shares of QEP Resources (NYSE:QEP) opened at 18.98 on Thursday. The company’s market cap is $4.55 billion. QEP Resources has a 1-year low of $8.54 and a 1-year high of $20.96. The stock has a 50 day moving average price of $18.81 and a 200-day moving average price of $17.62.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.12. The firm earned $333.70 million during the quarter, compared to analysts’ expectations of $362.17 million. QEP Resources had a negative return on equity of 4.04% and a negative net margin of 67.39%. The company’s revenue for the quarter was down 41.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 EPS. Analysts predict that QEP Resources will post ($1.19) earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in QEP Resources by 33.9% in the first quarter. Wellington Management Group LLP now owns 27,715,828 shares of the company’s stock worth $391,071,000 after buying an additional 7,013,529 shares during the period. Vanguard Group Inc. raised its stake in QEP Resources by 19.2% in the second quarter. Vanguard Group Inc. now owns 17,482,358 shares of the company’s stock worth $308,213,000 after buying an additional 2,810,845 shares during the period. BlackRock Fund Advisors raised its stake in QEP Resources by 21.7% in the second quarter. BlackRock Fund Advisors now owns 8,498,031 shares of the company’s stock worth $149,820,000 after buying an additional 1,515,475 shares during the period. State Street Corp raised its stake in QEP Resources by 3.8% in the second quarter. State Street Corp now owns 7,808,443 shares of the company’s stock worth $137,666,000 after buying an additional 287,527 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in QEP Resources by 9.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,372,496 shares of the company’s stock worth $112,347,000 after buying an additional 546,750 shares during the period. Institutional investors and hedge funds own 87.51% of the company’s stock.
About QEP Resources
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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