Williams Capital Analysts Give QEP Resources (QEP) a $18.00 Price Target
Williams Capital set a $18.00 price target on QEP Resources (NYSE:QEP) in a report released on Thursday morning, Marketbeat reports. The firm currently has a buy rating on the pipeline company’s stock.
A number of other brokerages have also recently issued reports on QEP. Zacks Investment Research raised shares of QEP Resources from a hold rating to a buy rating and set a $12.00 target price on the stock in a report on Friday, January 12th. Mizuho set a $15.00 target price on shares of QEP Resources and gave the company a buy rating in a report on Tuesday, January 16th. Piper Jaffray Companies reaffirmed a buy rating and issued a $14.00 target price on shares of QEP Resources in a report on Tuesday, January 9th. Barclays cut shares of QEP Resources from an overweight rating to an equal weight rating and set a $9.00 target price on the stock. in a report on Tuesday, November 7th. Finally, Deutsche Bank assumed coverage on shares of QEP Resources in a report on Thursday, February 1st. They issued a hold rating and a $11.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. QEP Resources presently has an average rating of Hold and a consensus target price of $12.84.
QEP Resources (NYSE:QEP) opened at $9.63 on Thursday. QEP Resources has a one year low of $7.02 and a one year high of $14.31. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.28 and a current ratio of 0.29. The company has a market cap of $2,320.53, a PE ratio of 12.51, a PEG ratio of 11.65 and a beta of 1.70.
QEP Resources declared that its board has authorized a stock buyback plan on Wednesday, February 28th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors have recently added to or reduced their stakes in QEP. Dimensional Fund Advisors LP raised its holdings in QEP Resources by 47.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock valued at $57,549,000 after acquiring an additional 2,166,476 shares during the period. Frontier Capital Management Co. LLC raised its holdings in QEP Resources by 98.5% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,106,908 shares of the pipeline company’s stock valued at $26,626,000 after acquiring an additional 1,541,894 shares during the period. Oslo Asset Management AS raised its holdings in QEP Resources by 123.0% in the 4th quarter. Oslo Asset Management AS now owns 2,612,900 shares of the pipeline company’s stock valued at $25,005,000 after acquiring an additional 1,441,200 shares during the period. Schroder Investment Management Group bought a new position in QEP Resources in the 4th quarter valued at about $11,068,000. Finally, First Trust Advisors LP raised its holdings in QEP Resources by 219.4% in the 3rd quarter. First Trust Advisors LP now owns 1,390,500 shares of the pipeline company’s stock valued at $11,917,000 after acquiring an additional 955,123 shares during the period. 93.28% of the stock is currently owned by hedge funds and other institutional investors.
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About QEP Resources
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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