QEP Resources Inc. (QEP) Stock Price Down 5.3%
QEP Resources Inc. (NYSE:QEP) fell 5.3% on Wednesday . The stock traded as low as $17.01 and last traded at $17.28, with a volume of 4,308,811 shares. The stock had previously closed at $18.25.
Several brokerages have recently weighed in on QEP. Drexel Hamilton began coverage on shares of QEP Resources in a research note on Tuesday, June 7th. They set a “buy” rating and a $33.00 target price for the company. Simmons upgraded shares of QEP Resources from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $20.00 to $24.00 in a research report on Wednesday, June 15th. Piper Jaffray Cos. upgraded shares of QEP Resources from a “neutral” rating to an “overweight” rating in a research report on Tuesday, June 14th. Deutsche Bank AG raised their price objective on shares of QEP Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, June 14th. Finally, Cantor Fitzgerald restated a “buy” rating on shares of QEP Resources in a research report on Sunday, May 22nd. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $21.63.
The company has a 50 day moving average of $18.53 and a 200-day moving average of $14.62. The stock’s market capitalization is $3.81 billion.
QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, April 27th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.07. During the same period in the previous year, the firm earned ($0.05) earnings per share. The firm had revenue of $261.30 million for the quarter, compared to analyst estimates of $393.22 million. The company’s revenue for the quarter was down 44.2% on a year-over-year basis. Equities analysts anticipate that QEP Resources Inc. will post ($1.47) earnings per share for the current fiscal year.
In other news, CEO Charles B. Stanley bought 16,763 shares of QEP Resources stock in a transaction on Thursday, June 30th. The stock was purchased at an average cost of $17.85 per share, with a total value of $299,219.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Several hedge funds recently modified their holdings of the company. BOKF NA raised its stake in shares of QEP Resources by 193.8% in the fourth quarter. BOKF NA now owns 74,963 shares of the company’s stock worth $1,004,000 after buying an additional 49,447 shares in the last quarter. Engineers Gate Manager LP bought a new stake in shares of QEP Resources during the fourth quarter worth $1,149,000. Wells Fargo & Company MN raised its stake in shares of QEP Resources by 5.2% in the fourth quarter. Wells Fargo & Company MN now owns 100,477 shares of the company’s stock worth $1,347,000 after buying an additional 4,970 shares in the last quarter. Sei Investments Co. raised its stake in shares of QEP Resources by 189,914.5% in the fourth quarter. Sei Investments Co. now owns 117,809 shares of the company’s stock worth $1,579,000 after buying an additional 117,747 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in shares of QEP Resources by 267.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 119,484 shares of the company’s stock worth $1,601,000 after buying an additional 86,948 shares in the last quarter.
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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