QEP Resources Inc. (QEP) Research Coverage Started at Mizuho
QEP has been the topic of a number of other reports. KLR Group reaffirmed a buy rating and issued a $27.00 price target (up from $25.00) on shares of QEP Resources in a research note on Thursday, June 30th. Barclays PLC raised QEP Resources from an equal weight rating to an overweight rating and boosted their target price for the company from $17.00 to $22.00 in a research note on Wednesday, August 3rd. Drexel Hamilton began coverage on QEP Resources in a research note on Tuesday, June 7th. They set a buy rating and a $33.00 target price on the stock. Piper Jaffray Cos. raised QEP Resources from a neutral rating to an overweight rating in a research note on Tuesday, June 14th. Finally, Wells Fargo & Co. reissued a market perform rating on shares of QEP Resources in a research note on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. QEP Resources has an average rating of Buy and an average price target of $22.38.
Shares of QEP Resources (NYSE:QEP) traded up 2.84% during trading on Wednesday, reaching $18.84. The company’s stock had a trading volume of 299,061 shares. The firm’s market cap is $4.51 billion. QEP Resources has a one year low of $8.54 and a one year high of $20.96. The stock’s 50 day moving average is $18.72 and its 200 day moving average is $17.66.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.12. The business had revenue of $333.70 million for 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 business’s quarterly revenue was down 41.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. On average, equities analysts forecast that QEP Resources will post ($1.19) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in QEP. First Mercantile Trust Co. acquired a new position in shares of QEP Resources during the third quarter worth about $462,000. Northwestern Mutual Investment Management Company LLC increased its position in shares of QEP Resources by 24.1% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 40,872 shares of the company’s stock worth $721,000 after buying an additional 7,940 shares during the last quarter. Mason Street Advisors LLC acquired a new position in shares of QEP Resources during the second quarter worth about $1,886,000. Public Employees Retirement System of Ohio increased its position in shares of QEP Resources by 17.3% in the second quarter. Public Employees Retirement System of Ohio now owns 85,627 shares of the company’s stock worth $1,510,000 after buying an additional 12,625 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of QEP Resources by 39.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 701,529 shares of the company’s stock worth $12,368,000 after buying an additional 199,401 shares during the last quarter. 87.51% of the stock is currently owned by hedge funds and other institutional investors.
QEP Resources Company Profile
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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