A number of other research analysts also recently issued reports on QEP. Zacks Investment Research upgraded QEP Resources from a hold rating to a buy rating and set a $20.00 price objective for the company in a report on Wednesday, June 29th. Barclays PLC upgraded QEP Resources from an equal weight rating to an overweight rating and increased their price objective for the stock from $17.00 to $22.00 in a report on Wednesday, August 3rd. Drexel Hamilton reiterated a buy rating and set a $33.00 price objective on shares of QEP Resources in a report on Wednesday, June 22nd. Simmons upgraded QEP Resources from a neutral rating to an overweight rating and increased their price objective for the stock from $20.00 to $24.00 in a report on Wednesday, June 15th. Finally, Deutsche Bank AG raised their price target on QEP Resources from $22.00 to $23.00 and gave the company a buy rating in a research note on Tuesday, June 14th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $22.40.
QEP Resources (NYSE:QEP) traded down 2.85% during mid-day trading on Wednesday, hitting $18.44. 961,900 shares of the stock were exchanged. The company has a 50-day moving average price of $18.81 and a 200-day moving average price of $17.62. QEP Resources has a one year low of $8.54 and a one year high of $20.96. The company’s market cap is $4.42 billion.
QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.12. The business earned $333.70 million during the quarter, compared to the consensus estimate of $362.17 million. QEP Resources had a negative return on equity of 4.04% and a negative net margin of 67.39%. QEP Resources’s quarterly revenue was down 41.9% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. On average, analysts predict that QEP Resources will post ($1.19) earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of QEP. ClariVest Asset Management LLC bought a new position in QEP Resources during the second quarter worth approximately $105,000. Quantbot Technologies LP bought a new position in QEP Resources during the second quarter worth approximately $119,000. Wright Investors Service Inc. bought a new position in QEP Resources during the second quarter worth approximately $183,000. MUFG Americas Holdings Corp raised its position in QEP Resources by 201.4% in the second quarter. MUFG Americas Holdings Corp now owns 11,255 shares of the company’s stock worth $198,000 after buying an additional 7,521 shares during the period. Finally, Meeder Asset Management Inc. raised its position in QEP Resources by 461.3% in the second quarter. Meeder Asset Management Inc. now owns 12,428 shares of the company’s stock worth $220,000 after buying an additional 10,214 shares during the period. Hedge funds and other institutional investors own 87.51% of the company’s stock.
QEP Resources Company Profile
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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