QEP has been the subject of a number of other reports. Oppenheimer initiated coverage on shares of QEP Resources in a research note on Wednesday, October 3rd. They issued an outperform rating and a $15.00 target price for the company. ValuEngine cut shares of QEP Resources from a hold rating to a sell rating in a research note on Thursday, July 26th. KLR Group reiterated a buy rating and issued a $14.00 target price on shares of QEP Resources in a research note on Monday, August 20th. Tudor Pickering upgraded shares of QEP Resources from a hold rating to a buy rating in a research note on Wednesday. Finally, Wells Fargo & Co cut shares of QEP Resources from an outperform rating to a market perform rating and set a $14.00 target price for the company. in a research note on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $13.53.
Shares of NYSE:QEP traded down $0.09 during trading on Wednesday, reaching $9.08. The stock had a trading volume of 7,861,687 shares, compared to its average volume of 4,970,155. QEP Resources has a one year low of $7.04 and a one year high of $13.77. The stock has a market capitalization of $2.32 billion, a P/E ratio of 11.79 and a beta of 1.35. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.34 and a current ratio of 0.34.
QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, November 7th. The pipeline company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $497.45 million. QEP Resources had a negative net margin of 11.89% and a positive return on equity of 7.72%. The company’s revenue was up 43.8% compared to the same quarter last year. During the same period last year, the business earned ($0.10) EPS. On average, research analysts forecast that QEP Resources will post -0.19 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Trexquant Investment LP raised its position in QEP Resources by 81.4% during the 3rd quarter. Trexquant Investment LP now owns 144,444 shares of the pipeline company’s stock worth $1,635,000 after buying an additional 64,829 shares during the last quarter. FMR LLC raised its position in QEP Resources by 16.1% during the 3rd quarter. FMR LLC now owns 2,670,837 shares of the pipeline company’s stock worth $30,234,000 after buying an additional 370,157 shares during the last quarter. Rafferty Asset Management LLC raised its position in QEP Resources by 26.8% during the 3rd quarter. Rafferty Asset Management LLC now owns 26,448 shares of the pipeline company’s stock worth $299,000 after buying an additional 5,592 shares during the last quarter. Ffcm LLC raised its position in QEP Resources by 71.8% during the 3rd quarter. Ffcm LLC now owns 121,266 shares of the pipeline company’s stock worth $1,373,000 after buying an additional 50,681 shares during the last quarter. Finally, BlackRock Inc. raised its position in QEP Resources by 1.0% during the 3rd quarter. BlackRock Inc. now owns 20,686,789 shares of the pipeline company’s stock worth $234,173,000 after buying an additional 198,575 shares during the last quarter. 98.99% of the stock is owned by institutional investors.
QEP Resources Company Profile
QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.
Read More: Price to Earnings Ratio (PE)
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