QEP Resources (QEP) to Repurchase $1.25 billion in Shares
QEP Resources (NYSE:QEP) declared that its Board of Directors has approved a share repurchase program, which permits the company to repurchase $1.25 billion in outstanding shares on Wednesday, February 28th, EventVestor reports. This repurchase authorization permits the pipeline company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Shares of QEP Resources (NYSE QEP) opened at $9.63 on Friday. The stock has a market cap of $2,320.00, a PE ratio of 8.75, a PEG ratio of 11.55 and a beta of 1.70. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.29 and a quick ratio of 1.54. QEP Resources has a 12 month low of $7.02 and a 12 month high of $14.31.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, February 28th. The pipeline company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $1.20. The business had revenue of $429.00 million for the quarter, compared to analyst estimates of $392.01 million. QEP Resources had a net margin of 16.59% and a return on equity of 5.06%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.15) EPS. sell-side analysts forecast that QEP Resources will post 0.07 earnings per share for the current year.
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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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