QEP Resources (NYSE: QEP) recently received a number of ratings updates from brokerages and research firms:
- 10/7/2016 – QEP Resources is now covered by analysts at Evercore ISI. They set a “hold” rating and a $22.00 price target on the stock.
- 10/6/2016 – QEP Resources had its “hold” rating reaffirmed by analysts at Goldman Sachs Group Inc.. They now have a $21.00 price target on the stock.
- 10/6/2016 – QEP Resources is now covered by analysts at Goldman Sachs Group Inc.. They set a “neutral” rating and a $21.00 price target on the stock.
- 10/5/2016 – QEP Resources is now covered by analysts at Mizuho. They set a “buy” rating and a $24.00 price target on the stock.
- 9/20/2016 – QEP Resources was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “With a diversified asset base, exposure to emerging plays and quality acreage in multiple basins, this mid-cap onshore-focused E&P offers a compelling value. Since its split from Questar Corp. in 2010, QEP has established a strong track record of production growth, while maintaining a competitive cost structure. The split of its midstream segment is expected to further enhance shareholder worth. However, the natural gas-heavy production mix currently clouds QEP’s value and is the main factor behind our cautious stance. Moreover, the oil price slump has adversely affected the group’s earnings and cash flows. Consequently, until the external environment challenges subside, we see limited upside for QEP shares from current levels.”
QEP Resources Inc (NYSE:QEP) opened at 18.07 on Thursday. QEP Resources Inc has a 12 month low of $8.54 and a 12 month high of $20.96. The firm’s 50 day moving average price is $18.55 and its 200 day moving average price is $17.77. The stock’s market cap is $4.33 billion.
QEP Resources (NYSE:QEP) last issued its quarterly 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 analyst estimates of $362.17 million. QEP Resources had a negative net margin of 67.39% and a negative return on equity of 4.04%. QEP Resources’s quarterly revenue was down 41.9% compared to the same quarter last year. During the same period last year, the company posted $0.09 EPS. On average, equities research analysts predict that QEP Resources Inc will post ($1.19) EPS for the current fiscal year.
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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