ValuEngine Upgrades Qep Resources (QEP) to Hold

Qep Resources (NYSE:QEP) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

A number of other equities research analysts have also recently issued reports on the stock. Piper Jaffray cut shares of Qep Resources from an “overweight” rating to a “neutral” rating and set a $12.00 target price for the company. in a research report on Tuesday, May 1st. Zacks Investment Research cut shares of Qep Resources from a “hold” rating to a “sell” rating in a research report on Thursday, April 26th. Williams Capital reiterated a “buy” rating and set a $16.00 target price on shares of Qep Resources in a research report on Thursday, April 26th. JPMorgan Chase increased their target price on shares of Qep Resources from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 24th. Finally, Stifel Nicolaus set a $19.00 target price on shares of Qep Resources and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.48.

Qep Resources opened at $13.19 on Wednesday, MarketBeat reports. The stock has a market cap of $3.09 billion, a PE ratio of 17.13 and a beta of 1.51. Qep Resources has a 52 week low of $12.82 and a 52 week high of $13.04. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.66.

Qep Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, April 25th. The pipeline company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The business had revenue of $428.90 million for the quarter, compared to the consensus estimate of $369.94 million. Qep Resources had a return on equity of 4.66% and a net margin of 8.51%. Qep Resources’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.14) earnings per share. equities research analysts expect that Qep Resources will post -0.56 EPS for the current year.

Qep Resources announced that its board has authorized a stock repurchase plan on Wednesday, February 28th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the pipeline company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

In related news, Director David A. Trice acquired 10,000 shares of the stock in a transaction on Thursday, March 8th. The stock was purchased at an average price of $9.00 per share, for a total transaction of $90,000.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at approximately $450,000. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of QEP. Kornitzer Capital Management Inc. KS acquired a new stake in Qep Resources in the 4th quarter valued at about $100,000. Savant Capital LLC acquired a new stake in Qep Resources in the 4th quarter valued at about $108,000. KBC Group NV acquired a new stake in Qep Resources in the 1st quarter valued at about $116,000. Point72 Asia Hong Kong Ltd acquired a new stake in Qep Resources in the 1st quarter valued at about $126,000. Finally, Tocqueville Asset Management L.P. acquired a new stake in Qep Resources in the 4th quarter valued at about $141,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Qep Resources (NYSE:QEP)

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