Johnson Rice started coverage on shares of QEP Resources (NYSE:QEP) in a report issued on Wednesday, Marketbeat.com reports. The brokerage issued a buy rating and a $19.00 target price on the pipeline company’s stock.
A number of other research analysts have also weighed in on QEP. Mizuho upgraded QEP Resources from a neutral rating to a buy rating in a report on Tuesday, November 21st. Williams Capital started coverage on QEP Resources in a report on Friday, December 8th. They issued a buy rating and a $13.00 price objective on the stock. Credit Suisse Group started coverage on QEP Resources in a report on Monday, December 11th. They issued an underperform rating and a $9.00 price objective on the stock. Zacks Investment Research upgraded QEP Resources from a hold rating to a buy rating and set a $11.00 price objective on the stock in a report on Tuesday, December 26th. Finally, Piper Jaffray Companies restated a buy rating and issued a $14.00 price objective on shares of QEP Resources in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $13.10.
Shares of QEP stock opened at $9.52 on Wednesday. QEP Resources has a one year low of $7.02 and a one year high of $13.15. The stock has a market cap of $2,313.30, a price-to-earnings ratio of 8.50 and a beta of 1.70. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.57.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, February 28th. The pipeline company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $1.20. The company had revenue of $429.00 million for the quarter, compared to analyst estimates of $392.01 million. QEP Resources had a return on equity of 5.06% and a net margin of 16.59%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS. equities analysts expect that QEP Resources will post -0.49 earnings per share for the current fiscal year.
QEP Resources declared that its board has approved a stock repurchase program on Wednesday, February 28th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the pipeline company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
In related news, Director David A. Trice purchased 10,000 shares of QEP Resources stock in a transaction dated Thursday, March 8th. The shares were acquired at an average price of $9.00 per share, for a total transaction of $90,000.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at $450,000. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.36% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. raised its holdings in shares of QEP Resources by 4.9% during the 4th quarter. Alliancebernstein L.P. now owns 10,177,149 shares of the pipeline company’s stock worth $97,395,000 after acquiring an additional 472,446 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of QEP Resources by 47.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock worth $57,549,000 after acquiring an additional 2,166,476 shares during the period. Talara Capital Management LLC raised its holdings in shares of QEP Resources by 13.6% during the 4th quarter. Talara Capital Management LLC now owns 2,841,015 shares of the pipeline company’s stock worth $27,189,000 after acquiring an additional 341,015 shares during the period. Mackenzie Financial Corp raised its holdings in shares of QEP Resources by 0.3% during the 4th quarter. Mackenzie Financial Corp now owns 2,702,500 shares of the pipeline company’s stock worth $25,863,000 after acquiring an additional 7,500 shares during the period. Finally, Oslo Asset Management AS raised its holdings in shares of QEP Resources by 123.0% during the 4th quarter. Oslo Asset Management AS now owns 2,612,900 shares of the pipeline company’s stock worth $25,005,000 after acquiring an additional 1,441,200 shares during the period. Institutional investors and hedge funds own 93.95% of the company’s stock.
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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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