QEP Resources, Inc. (NYSE:QEP) has been assigned a consensus recommendation of “Hold” from the twenty research firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $16.53.
A number of research firms have weighed in on QEP. ValuEngine cut shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, September 8th. J P Morgan Chase & Co cut shares of QEP Resources from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $11.00 to $9.00 in a research report on Thursday, July 27th. National Securities began coverage on shares of QEP Resources in a research report on Monday, July 31st. They issued a “buy” rating and a $11.00 price objective for the company. BidaskClub cut shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Cowen and Company set a $12.00 price objective on shares of QEP Resources and gave the company a “buy” rating in a research report on Wednesday, July 19th.
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QEP Resources (QEP) traded down 0.38% during mid-day trading on Wednesday, reaching $7.96. The company’s stock had a trading volume of 7,784,052 shares. The stock’s 50 day moving average price is $7.57 and its 200 day moving average price is $10.20. The stock’s market capitalization is $1.91 billion. QEP Resources has a 1-year low of $7.02 and a 1-year high of $21.12.
QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.08. The company had revenue of $383.70 million during the quarter, compared to analysts’ expectations of $413.27 million. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.23) EPS. Analysts expect that QEP Resources will post ($0.60) EPS for the current fiscal year.
In other QEP Resources news, CFO Richard J. Doleshek acquired 12,500 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were purchased at an average price of $7.91 per share, for a total transaction of $98,875.00. Following the completion of the purchase, the chief financial officer now directly owns 304,539 shares in the company, valued at $2,408,903.49. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Julie Dill acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average price of $8.49 per share, for a total transaction of $42,450.00. Following the purchase, the director now owns 5,525 shares of the company’s stock, valued at $46,907.25. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 42,500 shares of company stock worth $321,325. Company insiders own 1.36% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kimelman & Baird LLC raised its stake in QEP Resources by 3.1% during the second quarter. Kimelman & Baird LLC now owns 53,670 shares of the pipeline company’s stock worth $542,000 after acquiring an additional 1,600 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in QEP Resources during the second quarter worth about $221,000. Wealthsource Partners LLC raised its stake in QEP Resources by 0.5% during the second quarter. Wealthsource Partners LLC now owns 24,712 shares of the pipeline company’s stock worth $250,000 after acquiring an additional 123 shares during the period. Schneider Capital Management Corp raised its stake in QEP Resources by 328.9% during the second quarter. Schneider Capital Management Corp now owns 527,898 shares of the pipeline company’s stock worth $5,332,000 after acquiring an additional 404,820 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in QEP Resources by 18.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 114,013 shares of the pipeline company’s stock worth $1,152,000 after acquiring an additional 17,642 shares during the period. Hedge funds and other institutional investors own 93.21% of the company’s stock.
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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