Wells Fargo & Co Reiterates Hold Rating for QEP Resources (QEP)

Wells Fargo & Co restated their hold rating on shares of QEP Resources (NYSE:QEP) in a research note published on Friday, AnalystRatings.com reports.

Several other research firms also recently issued reports on QEP. Zacks Investment Research downgraded shares of QEP Resources from a buy rating to a hold rating in a report on Friday, January 18th. ValuEngine raised shares of QEP Resources from a sell rating to a hold rating in a report on Monday, February 4th. Raymond James set a $12.00 price target on shares of QEP Resources and gave the company a buy rating in a report on Wednesday, January 23rd. Finally, Capital One Financial downgraded shares of QEP Resources from an overweight rating to an equal weight rating in a report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $12.62.

NYSE QEP opened at $8.06 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.91. The firm has a market cap of $1.95 billion, a P/E ratio of -47.41 and a beta of 2.14. QEP Resources has a 1 year low of $5.00 and a 1 year high of $13.77.

QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, February 20th. The pipeline company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.15). The firm had revenue of $410.50 million for the quarter, compared to the consensus estimate of $434.58 million. QEP Resources had a negative return on equity of 0.73% and a negative net margin of 52.34%. QEP Resources’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. On average, equities research analysts expect that QEP Resources will post 0.33 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of QEP. Norges Bank bought a new stake in QEP Resources in the 4th quarter valued at $19,230,000. Hsbc Holdings PLC raised its stake in shares of QEP Resources by 96.2% in the 4th quarter. Hsbc Holdings PLC now owns 5,943,161 shares of the pipeline company’s stock valued at $33,460,000 after buying an additional 2,913,876 shares in the last quarter. Oslo Asset Management AS raised its stake in shares of QEP Resources by 74.6% in the 4th quarter. Oslo Asset Management AS now owns 6,157,390 shares of the pipeline company’s stock valued at $34,666,000 after buying an additional 2,630,852 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of QEP Resources in the 4th quarter valued at $7,400,000. Finally, Nomura Holdings Inc. raised its stake in shares of QEP Resources by 70.3% in the 4th quarter. Nomura Holdings Inc. now owns 2,422,200 shares of the pipeline company’s stock valued at $13,611,000 after buying an additional 1,000,012 shares in the last quarter. 99.22% of the stock is owned by hedge funds and other institutional investors.

About QEP Resources

QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.

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Analyst Recommendations for QEP Resources (NYSE:QEP)

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