Traders Sell QEP Resources Inc. (QEP) on Strength (QEP)
Traders sold shares of QEP Resources Inc. (NYSE:QEP) on strength during trading hours on Wednesday. $8.58 million flowed into the stock on the tick-up and $44.03 million flowed out of the stock on the tick-down, for a money net flow of $35.45 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 $0.31 for the day and closed at $17.56
QEP has been the subject of several analyst reports. Drexel Hamilton reiterated a “buy” rating and issued a $33.00 price target on shares of QEP Resources in a report on Wednesday, June 22nd. Deutsche Bank AG boosted their price objective on shares of QEP Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. Cantor Fitzgerald reissued a “buy” rating on shares of QEP Resources in a research note on Sunday, May 22nd. Sterne Agee CRT reissued a “buy” rating on shares of QEP Resources in a research note on Monday, May 16th. Finally, KLR Group assumed coverage on shares of QEP Resources in a research note on Wednesday, March 16th. They set a “buy” rating and a $23.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.63.
The firm’s 50-day moving average price is $18.54 and its 200-day moving average price is $14.48. The stock’s market capitalization is $3.81 billion.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, April 27th. The company reported ($0.53) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.07. The firm earned $261.30 million during the quarter, compared to analysts’ expectations of $393.22 million. During the same quarter last year, the company posted ($0.05) EPS. The firm’s revenue was down 44.2% compared to the same quarter last year. Equities analysts predict that QEP Resources Inc. will post ($1.51) earnings per share for the current year.
In other news, CEO Charles B. Stanley purchased 16,763 shares of QEP Resources stock in a transaction that occurred on Thursday, June 30th. The stock was acquired 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 SEC, which is accessible through this link.
Other large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of QEP Resources by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,139,070 shares of the company’s stock valued at $28,659,000 after buying an additional 19,317 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of QEP Resources by 9.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 155,629 shares of the company’s stock valued at $2,085,000 after buying an additional 13,855 shares during the period. I.G. Investment Management LTD. purchased a new stake in shares of QEP Resources during the fourth quarter valued at approximately $2,345,000. Marshall Wace LLP increased its stake in shares of QEP Resources by 3.3% in the fourth quarter. Marshall Wace LLP now owns 1,338,845 shares of the company’s stock valued at $17,941,000 after buying an additional 42,441 shares during the period. Finally, UBS Oconnor LLC purchased a new stake in shares of QEP Resources during the fourth quarter valued at approximately $2,693,000.
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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