QEP Resources Inc (NYSE:QEP) – Capital One Financial issued their FY2019 EPS estimates for QEP Resources in a report released on Friday, according to Zacks Investment Research. Capital One Financial analyst B. Velie forecasts that the pipeline company will earn $0.10 per share for the year.
Other analysts have also recently issued reports about the stock. Williams Capital initiated coverage on shares of QEP Resources in a research note on Friday, December 8th. They set a “buy” rating and a $13.00 price objective for the company. Mizuho upgraded shares of QEP Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 21st. BMO Capital Markets set a $11.00 price objective on shares of QEP Resources and gave the company a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research upgraded shares of QEP Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, December 26th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $14.00 price objective on shares of QEP Resources in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. QEP Resources presently has an average rating of “Hold” and an average target price of $12.87.
Shares of QEP Resources (QEP) traded down $0.03 during midday trading on Monday, reaching $9.40. 9,655,279 shares of the company’s stock traded hands, compared to its average volume of 7,198,124. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.28 and a current ratio of 0.29. QEP Resources has a twelve month low of $7.02 and a twelve month high of $13.67. The firm has a market cap of $2,286.79, a PE ratio of 8.41 and a beta of 1.70.
QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, February 28th. The pipeline company reported $1.13 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $1.20. QEP Resources had a net margin of 16.59% and a return on equity of 5.06%. The company had revenue of $429.00 million for the quarter, compared to the consensus estimate of $392.01 million. During the same quarter in the previous year, the firm earned ($0.15) EPS. QEP Resources’s revenue was up 7.3% compared to the same quarter last year.
QEP Resources declared that its board has authorized a share buyback program on Wednesday, February 28th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the pipeline company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
In other news, Director David A. Trice bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The stock was purchased at an average cost of $9.00 per share, for a total transaction of $90,000.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $450,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.36% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of QEP. First Trust Advisors LP lifted its stake in shares of QEP Resources by 219.4% in the 3rd quarter. First Trust Advisors LP now owns 1,390,500 shares of the pipeline company’s stock valued at $11,917,000 after purchasing an additional 955,123 shares during the period. Crossmark Global Holdings Inc. acquired a new position in QEP Resources during the third quarter worth $179,000. Canada Pension Plan Investment Board raised its position in QEP Resources by 10.7% during the third quarter. Canada Pension Plan Investment Board now owns 488,000 shares of the pipeline company’s stock worth $4,182,000 after acquiring an additional 47,300 shares during the period. ARP Americas LLC acquired a new position in QEP Resources during the third quarter worth $195,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in QEP Resources during the third quarter worth $178,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.
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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