Shares of QEP Resources Inc. (NYSE:QEP) have been given an average recommendation of “Buy” by the nineteen brokerages that are covering the company. Five research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $23.31.
QEP has been the topic of a number of research analyst reports. Goldman Sachs Group Inc. initiated coverage on shares of QEP Resources in a research note on Thursday. They issued a “neutral” rating and a $21.00 target price on the stock. Mizuho began coverage on shares of QEP Resources in a research report on Wednesday, October 5th. They issued a “buy” rating and a $24.00 price target on the stock. KLR Group reissued a “buy” rating and issued a $27.00 price target (up previously from $25.00) on shares of QEP Resources in a research report on Thursday, June 30th. Barclays PLC raised shares of QEP Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $22.00 in a research report on Wednesday, August 3rd. Finally, Piper Jaffray Cos. raised shares of QEP Resources from a “neutral” rating to an “overweight” rating in a research report on Tuesday, June 14th.
Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of QEP Resources by 33.9% in the first quarter. Wellington Management Group LLP now owns 27,715,828 shares of the company’s stock worth $391,071,000 after buying an additional 7,013,529 shares during the period. Vanguard Group Inc. boosted its stake in shares of QEP Resources by 19.2% in the second quarter. Vanguard Group Inc. now owns 17,482,358 shares of the company’s stock worth $308,213,000 after buying an additional 2,810,845 shares during the period. BlackRock Fund Advisors boosted its stake in shares of QEP Resources by 21.7% in the second quarter. BlackRock Fund Advisors now owns 8,498,031 shares of the company’s stock worth $149,820,000 after buying an additional 1,515,475 shares during the period. State Street Corp boosted its stake in shares of QEP Resources by 3.8% in the second quarter. State Street Corp now owns 7,808,443 shares of the company’s stock worth $137,666,000 after buying an additional 287,527 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of QEP Resources by 9.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,372,496 shares of the company’s stock worth $112,347,000 after buying an additional 546,750 shares during the period. 87.51% of the stock is owned by institutional investors.
Shares of QEP Resources (NYSE:QEP) opened at 18.32 on Wednesday. QEP Resources has a 12 month low of $8.54 and a 12 month high of $20.96. The firm has a 50-day moving average of $18.72 and a 200-day moving average of $17.66. The firm’s market cap is $4.39 billion.
QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.12. The firm had revenue of $333.70 million for the quarter, compared to analysts’ expectations of $362.17 million. QEP Resources had a negative net margin of 67.39% and a negative return on equity of 4.04%. The company’s quarterly revenue was down 41.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.09 earnings per share. On average, analysts anticipate that QEP Resources will post ($1.19) EPS for the current year.
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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