QEP Resources Inc. (QEP) Stock Price Down 2.8%
Shares of QEP Resources Inc. (NYSE:QEP) fell 2.8% during trading on Thursday . The company traded as low as $17.35 and last traded at $17.40, with a volume of 2,958,541 shares traded. The stock had previously closed at $17.91.
A number of brokerages have recently commented on QEP. Zacks Investment Research raised shares of QEP Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. KLR Group reissued a “buy” rating and issued a $27.00 price objective (up previously from $25.00) on shares of QEP Resources in a research report on Thursday, June 30th. Raymond James Financial Inc. raised shares of QEP Resources from an “outperform” rating to a “strong-buy” rating and set a $27.00 price objective on the stock in a research report on Friday, April 29th. Barclays PLC boosted their price objective on shares of QEP Resources from $13.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 14th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of QEP Resources in a research report on Sunday, May 22nd. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $22.53.
The firm’s market cap is $3.75 billion. The company’s 50-day moving average is $18.37 and its 200-day moving average is $14.82.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, April 27th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.07. The business earned $261.30 million during the quarter, compared to analyst estimates of $393.22 million. During the same period in the previous year, the business posted ($0.05) EPS. The business’s revenue for the quarter was down 44.2% compared to the same quarter last year. Analysts anticipate that QEP Resources Inc. will post ($1.41) EPS for the current fiscal year.
In related news, CEO Charles B. Stanley acquired 16,763 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were acquired at an average cost of $17.85 per share, for a total transaction of $299,219.55. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
A number of institutional investors recently modified their holdings of QEP. BOKF NA boosted its position in shares of 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 during the period. Engineers Gate Manager LP bought a new position in shares of QEP Resources during the fourth quarter valued at $1,149,000. Comerica Bank boosted its position in shares of 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 during the period. Sei Investments Co. boosted its position 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 valued at $1,579,000 after buying an additional 117,747 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. boosted its position 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 valued at $1,601,000 after buying an additional 86,948 shares during the period.
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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