QEP Resources Inc (NYSE:QEP) traded down 5.2% during mid-day trading on Monday . The stock traded as low as $8.71 and last traded at $8.76. 4,292,392 shares changed hands during trading, a decline of 40% from the average session volume of 7,117,904 shares. The stock had previously closed at $9.24.

Several equities research analysts have recently issued reports on the stock. ValuEngine lowered shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded shares of QEP Resources from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research note on Tuesday, February 13th. B. Riley assumed coverage on shares of QEP Resources in a research note on Monday, February 5th. They set a “neutral” rating and a $10.50 price target for the company. Mizuho upgraded shares of QEP Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 21st. Finally, Credit Suisse Group assumed coverage on shares of QEP Resources in a research note on Monday, December 11th. They set an “underperform” rating and a $9.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $12.81.

The firm has a market cap of $2,226.55, a price-to-earnings ratio of 7.92 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 0.28.

QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, February 28th. The pipeline company reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $1.20. The company had revenue of $429.00 million during the quarter, compared to the consensus estimate of $392.01 million. QEP Resources had a net margin of 16.59% and a return on equity of 5.06%. QEP Resources’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the firm earned ($0.15) EPS. equities research analysts predict that QEP Resources Inc will post -0.49 EPS for the current fiscal year.

QEP Resources declared that its board has approved a stock buyback program on Wednesday, February 28th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the pipeline company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other news, Director David A. Trice purchased 10,000 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was purchased at an average cost of $9.00 per share, with a total value of $90,000.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at $450,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.36% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Kornitzer Capital Management Inc. KS bought a new position in QEP Resources in the 4th quarter valued at $100,000. Savant Capital LLC bought a new position in QEP Resources in the 4th quarter valued at $108,000. Tocqueville Asset Management L.P. bought a new position in QEP Resources in the 4th quarter valued at $141,000. MANA Advisors LLC bought a new position in QEP Resources in the 4th quarter valued at $163,000. Finally, Southport Management L.L.C. bought a new position in QEP Resources in the 3rd quarter valued at $171,000. 93.95% of the stock is 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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