Qep Resources (NYSE:QEP) has received an average recommendation of “Hold” from the twenty research firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $12.73.
QEP has been the subject of a number of recent analyst reports. Zacks Investment Research raised Qep Resources from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Wednesday, February 7th. Williams Capital set a $18.00 price target on Qep Resources and gave the company a “buy” rating in a research report on Thursday, March 1st. Piper Jaffray Companies set a $13.00 price target on Qep Resources and gave the company a “buy” rating in a research report on Wednesday, March 14th. Johnson Rice initiated coverage on Qep Resources in a research report on Wednesday, March 21st. They set a “buy” rating and a $19.00 price target for the company. Finally, Stifel Nicolaus set a $19.00 target price on Qep Resources and gave the stock a “buy” rating in a report on Tuesday, April 24th.
Qep Resources opened at $13.16 on Monday, according to MarketBeat.com. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 17.09 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.24 and a quick ratio of 0.24. Qep Resources has a one year low of $7.02 and a one year high of $13.31.
Qep Resources (NYSE:QEP) last released its quarterly earnings results 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 net margin of 8.51% and a return on equity of 4.66%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.14) EPS. equities research analysts forecast that Qep Resources will post -0.56 EPS for the current fiscal year.
Qep Resources announced that its board has authorized a stock repurchase program on Wednesday, February 28th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
In related news, Director David A. Trice purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The shares were bought at an average price of $9.00 per share, for a total transaction of $90,000.00. Following the purchase, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $450,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of QEP. Dimensional Fund Advisors LP grew its stake in shares of Qep Resources by 25.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 13,566,601 shares of the pipeline company’s stock worth $132,817,000 after buying an additional 2,761,073 shares during the last quarter. Oslo Asset Management AS grew its stake in shares of Qep Resources by 123.0% in the 4th quarter. Oslo Asset Management AS now owns 2,612,900 shares of the pipeline company’s stock worth $25,005,000 after buying an additional 1,441,200 shares during the last quarter. Talara Capital Management LLC grew its stake in shares of Qep Resources by 42.3% in the 1st quarter. Talara Capital Management LLC now owns 4,043,522 shares of the pipeline company’s stock worth $39,586,000 after buying an additional 1,202,507 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Qep Resources by 3,131.7% in the 1st quarter. Hsbc Holdings PLC now owns 1,221,630 shares of the pipeline company’s stock worth $11,959,000 after buying an additional 1,183,829 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of Qep Resources in the 4th quarter worth approximately $11,068,000. Institutional investors own 93.97% of the company’s stock.
About Qep Resources
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.
Receive News & Ratings for Qep Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Qep Resources and related companies with MarketBeat.com's FREE daily email newsletter.