QEP Resources Inc. (QEP) Stock Price Down 5.3%
QEP Resources Inc. (NYSE:QEP)’s share price traded down 5.3% during trading on Wednesday . The company 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.
A number of equities analysts have commented on the company. Barclays PLC raised their price objective on QEP Resources from $13.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday. Wells Fargo & Co. restated a “market perform” rating on shares of QEP Resources in a research note on Wednesday, July 6th. KLR Group restated a “buy” rating and set a $27.00 price objective (up previously from $25.00) on shares of QEP Resources in a research note on Thursday, June 30th. Zacks Investment Research upgraded QEP Resources from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Wednesday, June 29th. Finally, Cantor Fitzgerald restated a “buy” rating on shares of QEP Resources in a research note on Wednesday, June 22nd. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $22.00.
The stock’s market cap is $3.96 billion. The firm has a 50 day moving average price of $18.50 and a 200 day moving average price of $14.66.
QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, April 27th. The company reported ($0.53) EPS for the quarter, beating the 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. QEP Resources’s revenue for the quarter was down 44.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) EPS. Equities research analysts forecast that QEP Resources Inc. will post ($1.45) earnings per share for the current fiscal year.
In related news, CEO Charles B. Stanley bought 16,763 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were purchased at an average price of $17.85 per share, for a total transaction of $299,219.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Several large investors recently bought and sold shares of the company. BOKF NA increased its stake in QEP Resources by 193.8% in the fourth quarter. BOKF NA now owns 74,963 shares of the company’s stock valued at $1,004,000 after buying an additional 49,447 shares in the last quarter. Engineers Gate Manager LP bought a new stake in QEP Resources during the fourth quarter valued at about $1,149,000. Wells Fargo & Company MN increased its stake in QEP Resources by 5.2% in the fourth quarter. Wells Fargo & Company MN now owns 100,477 shares of the company’s stock valued at $1,347,000 after buying an additional 4,970 shares in the last quarter. Comerica Bank increased its stake in QEP Resources by 3.3% in the fourth quarter. Comerica Bank now owns 123,278 shares of the company’s stock valued at $1,474,000 after buying an additional 3,979 shares in the last quarter. Finally, Sei Investments Co. increased its stake in QEP Resources by 189,914.5% in the fourth quarter. Sei Investments Co. now owns 117,809 shares of the company’s stock valued at $1,579,000 after buying an additional 117,747 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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.