Investors Sell QEP Resources Inc. (QEP) on Strength (QEP)
Investors sold shares of QEP Resources Inc. (NYSE:QEP) on strength during trading on Monday. $5.29 million flowed into the stock on the tick-up and $25.97 million flowed out of the stock on the tick-down, for a money net flow of $20.68 million out of the stock. Of all stocks tracked, QEP Resources had the 27th highest net out-flow for the day. QEP Resources traded up $0.15 for the day and closed at $19.22
Several brokerages recently commented on QEP. KLR Group reiterated a “buy” rating and set a $27.00 price target (up from $25.00) on shares of QEP Resources in a research note on Thursday, June 30th. FBR & Co reiterated a “marketperform” rating on shares of QEP Resources in a research note on Wednesday, July 20th. Barclays PLC lifted their price target on shares of QEP Resources from $13.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 14th. Cantor Fitzgerald reiterated a “buy” rating on shares of QEP Resources in a research note on Sunday, May 22nd. Finally, Drexel Hamilton reiterated a “buy” rating and set a $33.00 price target on shares of QEP Resources in a research note on Wednesday, June 22nd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.14.
The company’s 50 day moving average is $18.74 and its 200 day moving average is $16.42. The company’s market capitalization is $4.61 billion.
QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.12. The business had revenue of $333.70 million for the quarter, compared to the consensus estimate of $362.17 million. The business’s revenue for the quarter was down 41.9% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. On average, equities analysts forecast that QEP Resources Inc. will post ($1.18) EPS for the current fiscal year.
In other QEP Resources news, CEO Charles B. Stanley acquired 16,763 shares of QEP Resources stock in a transaction dated Thursday, June 30th. The stock was bought at an average price 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.
An institutional investor recently bought a new position in QEP Resources stock. I.G. Investment Management LTD. acquired a new stake in shares of QEP Resources Inc. (NYSE:QEP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 175,000 shares of the company’s stock, valued at approximately $2,345,000. I.G. Investment Management LTD. owned 0.10% of QEP Resources as of its most recent filing with the SEC.
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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