QEP Resources Inc. (QEP) Stock Price Down 2.8%
QEP Resources Inc. (NYSE:QEP) was down 2.8% on Thursday . The stock 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.
Several equities research analysts have weighed in on QEP shares. Wells Fargo & Co. reaffirmed a “market perform” rating on shares of QEP Resources in a research report on Wednesday, July 6th. BMO Capital Markets raised QEP Resources from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $18.00 to $24.00 in a research report on Monday, July 18th. They noted that the move was a valuation call. FBR & Co started coverage on QEP Resources in a research report on Thursday. They set a “market perform” rating and a $19.00 price target on the stock. KLR Group reaffirmed a “buy” rating and set a $27.00 price target (up from $25.00) on shares of QEP Resources in a research report on Thursday, June 30th. Finally, Drexel Hamilton started coverage on QEP Resources in a research report on Tuesday, June 7th. They set a “buy” rating and a $33.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $22.53.
The firm’s market cap is $3.73 billion. The firm has a 50-day moving average price of $18.30 and a 200-day moving average price of $14.84.
QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, April 27th. The company reported ($0.53) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.07. During the same period in the previous year, the company posted ($0.05) earnings per share. The business earned $261.30 million during the quarter, compared to analysts’ expectations of $393.22 million. QEP Resources’s quarterly revenue was down 44.2% on a year-over-year basis. On average, equities research analysts predict that QEP Resources Inc. will post ($1.42) earnings per share for the current fiscal year.
In other QEP Resources news, CEO Charles B. Stanley bought 16,763 shares of QEP Resources stock in a transaction dated Thursday, June 30th. The stock was acquired at an average cost of $17.85 per share, with a total value of $299,219.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Several hedge funds and institutional investors have recently modified their holdings of the company. I.G. Investment Management LTD. purchased a new position in shares of QEP Resources during the fourth quarter worth about $2,345,000. Marshall Wace LLP raised its position 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 worth $17,941,000 after buying an additional 42,441 shares during the period. UBS Oconnor LLC purchased a new position in shares of QEP Resources during the fourth quarter worth about $2,693,000. Guinness Asset Management Ltd raised its position in shares of QEP Resources by 0.3% in the fourth quarter. Guinness Asset Management Ltd now owns 294,890 shares of the company’s stock worth $3,952,000 after buying an additional 990 shares during the period. Finally, Schroder Investment Management Group purchased a new position in shares of QEP Resources during the fourth quarter worth about $12,583,000.
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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