QEP Resources Inc (QEP) Receives Consensus Rating of “Buy” from Analysts
QEP Resources Inc (NYSE:QEP) has earned an average recommendation of “Buy” from the eighteen research firms that are covering the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $24.69.
A number of brokerages have recently issued reports on QEP. Scotiabank raised QEP Resources from an “outperform” rating to a “focus stock” rating and increased their target price for the stock from $31.00 to $33.00 in a report on Thursday, January 12th. Deutsche Bank AG dropped their target price on QEP Resources from $22.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, March 7th. FBR & Co raised QEP Resources from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $20.00 to $24.00 in a report on Tuesday, January 3rd. Finally, Wells Fargo & Co raised QEP Resources from a “market perform” rating to an “outperform” rating in a report on Friday, February 10th.
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In other QEP Resources news, Director Phillips S. Baker, Jr. purchased 7,000 shares of the company’s stock in a transaction that occurred on Friday, February 24th. The stock was purchased at an average cost of $14.21 per share, with a total value of $99,470.00. Following the acquisition, the director now directly owns 21,897 shares of the company’s stock, valued at approximately $311,156.37. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.36% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oakbrook Investments LLC raised its position in shares of QEP Resources by 0.8% in the third quarter. Oakbrook Investments LLC now owns 24,200 shares of the company’s stock worth $473,000 after buying an additional 200 shares during the last quarter. Wright Investors Service Inc. raised its position in shares of QEP Resources by 266.9% in the third quarter. Wright Investors Service Inc. now owns 37,990 shares of the company’s stock worth $742,000 after buying an additional 27,635 shares during the last quarter. Alpha Windward LLC purchased a new position in shares of QEP Resources during the third quarter worth approximately $415,000. Meeder Asset Management Inc. raised its position in shares of QEP Resources by 843.3% in the third quarter. Meeder Asset Management Inc. now owns 117,238 shares of the company’s stock worth $2,290,000 after buying an additional 104,810 shares during the last quarter. Finally, GW&K Investment Management LLC raised its position in shares of QEP Resources by 27.4% in the third quarter. GW&K Investment Management LLC now owns 622,333 shares of the company’s stock worth $12,154,000 after buying an additional 133,896 shares during the last quarter. Hedge funds and other institutional investors own 90.76% of the company’s stock.
Shares of QEP Resources (NYSE:QEP) traded down 0.99% during mid-day trading on Monday, hitting $13.03. The stock had a trading volume of 1,274,473 shares. The stock’s market cap is $3.12 billion. The firm’s 50-day moving average price is $15.43 and its 200 day moving average price is $17.52. QEP Resources has a 12-month low of $12.37 and a 12-month high of $21.12.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, February 22nd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.07. QEP Resources had a negative return on equity of 5.55% and a negative net margin of 79.57%. The business earned $399.70 million during the quarter, compared to analysts’ expectations of $395.90 million. During the same period in the prior year, the firm posted ($0.01) EPS. QEP Resources’s quarterly revenue was down 14.6% compared to the same quarter last year. Equities analysts forecast that QEP Resources will post ($0.71) EPS for the current fiscal year.
QEP Resources Company Profile
QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.
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