QEP Resources, Inc. (NYSE:QEP) had its price target decreased by Piper Jaffray Companies from $20.00 to $12.00 in a report released on Monday morning. Piper Jaffray Companies currently has an overweight rating on the pipeline company’s stock.
Several other equities analysts have also recently commented on QEP. Credit Suisse Group started coverage on shares of QEP Resources in a research report on Thursday, June 1st. They issued a neutral rating and a $15.00 target price for the company. BidaskClub upgraded shares of QEP Resources from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. Wolfe Research started coverage on shares of QEP Resources in a research report on Thursday, June 15th. They issued a market perform rating for the company. BMO Capital Markets restated a buy rating and issued a $11.00 target price on shares of QEP Resources in a research report on Tuesday, June 27th. Finally, Barclays PLC restated a buy rating and issued a $10.00 target price on shares of QEP Resources in a research report on Friday, July 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. QEP Resources currently has an average rating of Hold and a consensus price target of $16.25.
Shares of QEP Resources (QEP) opened at 8.38 on Monday. QEP Resources has a 12-month low of $7.02 and a 12-month high of $21.12. The stock’s 50 day moving average is $7.54 and its 200 day moving average is $10.05. The firm’s market cap is $2.02 billion.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) EPS for the quarter, beating the consensus estimate 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 business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.23) EPS. Equities analysts expect that QEP Resources will post ($0.59) earnings per share for the current year.
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In other news, Director David A. Trice acquired 25,000 shares of QEP Resources stock in a transaction dated Thursday, August 17th. The shares were bought at an average cost of $7.20 per share, with a total value of $180,000.00. Following the purchase, the director now owns 40,000 shares in the company, valued at approximately $288,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Julie Dill acquired 5,000 shares of QEP Resources stock in a transaction dated Friday, July 28th. The stock was purchased at an average cost of $8.49 per share, for a total transaction of $42,450.00. Following the completion of the purchase, the director now owns 5,525 shares in the company, valued at approximately $46,907.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 42,500 shares of company stock worth $321,325. Insiders own 1.36% of the company’s stock.
Large investors have recently bought and sold shares of the company. Commerce Bank bought a new stake in shares of QEP Resources in the 2nd quarter valued at $102,000. Suntrust Banks Inc. boosted its stake in QEP Resources by 5.4% during the first quarter. Suntrust Banks Inc. now owns 12,788 shares of the pipeline company’s stock worth $161,000 after acquiring an additional 651 shares in the last quarter. Pitcairn Co. boosted its stake in QEP Resources by 4.3% during the second quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after acquiring an additional 563 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in QEP Resources by 4.4% during the first quarter. Meadow Creek Investment Management LLC now owns 17,930 shares of the pipeline company’s stock worth $228,000 after acquiring an additional 748 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in QEP Resources by 19.6% during the first quarter. M&T Bank Corp now owns 18,658 shares of the pipeline company’s stock worth $237,000 after acquiring an additional 3,064 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.
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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