Goldman Sachs Group Inc. reissued their hold rating on shares of QEP Resources Inc. (NYSE:QEP) in a research report report published on Thursday. Goldman Sachs Group Inc. currently has a $21.00 target price on the stock.
A number of other research analysts also recently issued reports on the company. Mizuho assumed coverage on QEP Resources in a report on Wednesday, October 5th. They issued a buy rating and a $24.00 price target for the company. Zacks Investment Research downgraded QEP Resources from a buy rating to a hold rating in a report on Tuesday, September 20th. Barclays PLC raised 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 report on Wednesday, August 3rd. KLR Group reissued a buy rating and issued a $32.00 price target (up from $31.00) on shares of QEP Resources in a report on Tuesday, August 2nd. Finally, FBR & Co reissued a marketperform rating on shares of QEP Resources in a report on Wednesday, July 20th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $22.38.
QEP Resources (NYSE:QEP) opened at 18.38 on Thursday. The stock’s market capitalization is $4.40 billion. QEP Resources has a 12-month low of $8.54 and a 12-month high of $20.96. The company has a 50 day moving average of $18.62 and a 200-day moving average of $17.77.
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, beating the Zacks’ 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 previous year, the company posted $0.09 earnings per share. QEP Resources’s revenue for the quarter was down 41.9% on a year-over-year basis. On average, equities research analysts forecast that QEP Resources will post ($1.19) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of QEP. 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 valued at $391,071,000 after buying an additional 7,013,529 shares during the last quarter. 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 valued at $308,213,000 after buying an additional 2,810,845 shares during the last quarter. 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 valued at $149,820,000 after buying an additional 1,515,475 shares during the last quarter. 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 valued at $137,666,000 after buying an additional 287,527 shares during the last quarter. 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 valued at $112,347,000 after buying an additional 546,750 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.
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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