QEP Resources Inc. (NYSE:QEP) – Stock analysts at FBR & Co issued their FY2018 earnings estimates for shares of QEP Resources in a research note issued to investors on Monday. FBR & Co analyst C. Mabry anticipates that the brokerage will post earnings of ($0.67) per share for the year. FBR & Co has a “Marketperform” rating on the stock.
Other research analysts also recently issued reports about the company. Simmons raised QEP Resources from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $20.00 to $24.00 in a report on Wednesday, June 15th. Zacks Investment Research raised QEP Resources from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Wednesday, June 29th. Drexel Hamilton reaffirmed a “buy” rating and set a $33.00 target price on shares of QEP Resources in a report on Wednesday, June 22nd. BMO Capital Markets raised QEP Resources from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $18.00 to $24.00 in a report on Monday, July 18th. They noted that the move was a valuation call. Finally, KLR Group reissued a “buy” rating and issued a $32.00 price objective (up from $31.00) on shares of QEP Resources in a research note on Tuesday, August 2nd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. QEP Resources presently has an average rating of “Buy” and a consensus price target of $22.14.
Shares of QEP Resources (NYSE:QEP) traded up 3.27% during midday trading on Wednesday, hitting $18.97. The company’s stock had a trading volume of 4,414,309 shares. The company’s market cap is $4.55 billion. The company has a 50-day moving average price of $18.84 and a 200 day moving average price of $17.61. QEP Resources has a 1-year low of $8.54 and a 1-year high of $20.96.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.12. QEP Resources had a negative return on equity of 4.04% and a negative net margin of 67.39%. The company earned $333.70 million during the quarter, compared to the consensus estimate of $362.17 million. During the same period in the prior year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was down 41.9% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in QEP Resources during the fourth quarter valued at about $34,055,000. Texas Permanent School Fund raised its position in QEP Resources by 14.7% in the first quarter. Texas Permanent School Fund now owns 152,564 shares of the company’s stock valued at $2,153,000 after buying an additional 19,514 shares in the last quarter. Pacad Investment Ltd. acquired a new position in QEP Resources during the first quarter valued at about $283,000. Ngam Advisors L.P. raised its position in QEP Resources by 11.9% in the first quarter. Ngam Advisors L.P. now owns 134,000 shares of the company’s stock valued at $1,891,000 after buying an additional 14,290 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in QEP Resources by 110.7% in the first quarter. TIAA CREF Investment Management LLC now owns 1,047,334 shares of the company’s stock valued at $14,778,000 after buying an additional 550,264 shares in the last quarter. 87.51% of the stock is owned by hedge funds and other institutional investors.
About QEP Resources
QEP Resources, Inc (QEP) is a holding company with two subsidiaries, QEP Energy Company and QEP Marketing Company, which are engaged in two primary lines of business: oil and gas exploration and production (QEP Energy), and oil and gas marketing, operation of a gas gathering system and an underground gas storage facility, and corporate activities (QEP Marketing and Other).
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