BMO Capital Markets set a $11.00 price target on QEP Resources, Inc. (NYSE:QEP) in a research note issued to investors on Tuesday. The brokerage currently has a buy rating on the pipeline company’s stock.
Several other equities analysts also recently weighed in on QEP. Deutsche Bank AG downgraded QEP Resources from a buy rating to a hold rating and dropped their target price for the company from $18.00 to $13.00 in a research report on Tuesday, July 18th. Cowen and Company set a $12.00 price target on QEP Resources and gave the company a buy rating in a report on Wednesday, July 19th. BidaskClub cut QEP Resources from a sell rating to a strong sell rating in a research note on Thursday, July 27th. J P Morgan Chase & Co cut QEP Resources from an overweight rating to a neutral rating and reduced their price objective for the company from $11.00 to $9.00 in a research note on Thursday, July 27th. Finally, National Securities assumed coverage on QEP Resources in a research note on Monday, July 31st. They set a buy rating and a $11.00 price target for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. QEP Resources has a consensus rating of Hold and a consensus price target of $14.19.
Shares of QEP Resources (QEP) traded up $0.26 on Tuesday, reaching $8.80. 4,661,982 shares of the company’s stock traded hands, compared to its average volume of 5,041,679. QEP Resources has a 52 week low of $7.02 and a 52 week high of $21.12. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.54 and a current ratio of 1.55.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.11. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The business had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. During the same quarter in the previous year, the firm earned ($0.21) EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. analysts forecast that QEP Resources will post -0.46 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of QEP Resources by 47.6% during the third quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock valued at $57,549,000 after buying an additional 2,166,476 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of QEP Resources by 98.5% in the third quarter. Frontier Capital Management Co. LLC now owns 3,106,908 shares of the pipeline company’s stock worth $26,626,000 after buying an additional 1,541,894 shares during the last quarter. State Street Corp lifted its position in shares of QEP Resources by 16.1% during the 2nd quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock worth $108,526,000 after purchasing an additional 1,489,661 shares during the last quarter. Key Group Holdings Cayman LTD. raised its holdings in QEP Resources by 55.7% in the 2nd quarter. Key Group Holdings Cayman LTD. now owns 3,463,104 shares of the pipeline company’s stock valued at $34,977,000 after acquiring an additional 1,238,891 shares in the last quarter. Finally, Caymus Capital Partners L.P. raised its holdings in QEP Resources by 18.2% in the 2nd quarter. Caymus Capital Partners L.P. now owns 7,931,300 shares of the pipeline company’s stock valued at $80,106,000 after acquiring an additional 1,220,700 shares in the last quarter. 89.49% 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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