QEP Resources Inc. (QEP) Trading 4.4% Higher
QEP Resources Inc. (NYSE:QEP) traded up 4.4% during mid-day trading on Monday . The company traded as high as $20.16 and last traded at $20.00, with a volume of 1,768,090 shares trading hands. The stock had previously closed at $19.15.
A number of equities research analysts have recently issued reports on the stock. FBR & Co assumed coverage on shares of QEP Resources in a research report on Thursday, July 21st. They issued a “market perform” rating and a $19.00 target price for the company. Simmons raised shares of QEP Resources from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $20.00 to $24.00 in a research report on Wednesday, June 15th. Zacks Investment Research raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Wednesday, June 29th. Drexel Hamilton reaffirmed a “buy” rating and issued a $33.00 price target on shares of QEP Resources in a research note on Wednesday, June 22nd. Finally, BMO Capital Markets raised QEP Resources from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $18.00 to $24.00 in a research note on Monday, July 18th. They noted that the move was a valuation call. Two 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’s stock. The company has a consensus rating of “Buy” and an average target price of $22.47.
The stock’s market capitalization is $4.77 billion. The stock’s 50-day moving average is $17.93 and its 200-day moving average is $15.69.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.12. During the same quarter in the previous year, the company posted $0.09 EPS. The firm had revenue of $333.70 million for the quarter, compared to the consensus estimate of $362.17 million. The firm’s revenue was down 41.9% compared to the same quarter last year. On average, analysts expect that QEP Resources Inc. will post ($1.18) EPS for the current fiscal year.
In related news, CEO Charles B. Stanley bought 16,763 shares of the business’s stock in a transaction 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 document filed with the SEC, which can be accessed through the SEC website.
Other hedge funds and institutional investors recently modified their holdings of the company. I.G. Investment Management LTD. bought a new position in shares of QEP Resources during the fourth quarter valued at approximately $2,345,000. Cornerstone Capital Management Holdings LLC. increased 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 in the last quarter. Finally, Comerica Bank increased 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 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).