QEP Resources Inc (NYSE:QEP) – Equities research analysts at Capital One Financial issued their FY2019 earnings per share estimates for shares of QEP Resources in a report released on Friday, according to Zacks Investment Research. Capital One Financial analyst B. Velie anticipates that the pipeline company will earn $0.10 per share for the year.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, February 28th. The pipeline company reported $1.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $1.20. The firm had revenue of $429.00 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) earnings per share.
QEP has been the subject of a number of other reports. ValuEngine cut shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. BMO Capital Markets set a $11.00 target price on shares of QEP Resources and gave the company a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research note on Tuesday, February 13th. B. Riley began coverage on shares of QEP Resources in a research note on Monday, February 5th. They set a “neutral” rating and a $10.50 target price for the company. Finally, Mizuho raised shares of QEP Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. QEP Resources has an average rating of “Hold” and an average price target of $12.87.
Shares of QEP Resources (NYSE:QEP) traded down $0.03 during midday trading on Monday, hitting $9.40. 9,655,279 shares of the stock were exchanged, compared to its average volume of 7,198,124. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2,286.79, a PE ratio of 8.41 and a beta of 1.70. QEP Resources has a 1 year low of $7.02 and a 1 year high of $13.67.
QEP Resources declared that its board has approved a stock buyback plan on Wednesday, February 28th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the pipeline company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other QEP Resources news, Director David A. Trice acquired 10,000 shares of the stock in a transaction on Thursday, March 8th. The stock was acquired at an average price of $9.00 per share, for a total transaction of $90,000.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $450,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.36% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. ING Groep NV lifted its position in QEP Resources by 23.4% during the fourth quarter. ING Groep NV now owns 36,355 shares of the pipeline company’s stock valued at $348,000 after purchasing an additional 6,900 shares during the last quarter. Mackenzie Financial Corp lifted its position in QEP Resources by 0.3% during the fourth quarter. Mackenzie Financial Corp now owns 2,702,500 shares of the pipeline company’s stock valued at $25,863,000 after purchasing an additional 7,500 shares during the last quarter. Principal Financial Group Inc. lifted its position in QEP Resources by 0.9% during the third quarter. Principal Financial Group Inc. now owns 1,028,062 shares of the pipeline company’s stock valued at $8,810,000 after purchasing an additional 9,258 shares during the last quarter. US Bancorp DE lifted its position in QEP Resources by 73.5% during the fourth quarter. US Bancorp DE now owns 24,140 shares of the pipeline company’s stock valued at $230,000 after purchasing an additional 10,223 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new position in QEP Resources during the fourth quarter valued at $100,000. Institutional investors and hedge funds own 94.34% of the company’s stock.
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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