QEP Resources, Inc. (QEP) Shares Gap Down to $8.80

QEP Resources, Inc. (NYSE:QEP)’s share price gapped down prior to trading on Monday . The stock had previously closed at $8.99, but opened at $8.80. QEP Resources shares last traded at $8.67, with a volume of 3071326 shares traded.

Several brokerages have recently issued reports on QEP. BMO Capital Markets set a $11.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Barclays PLC cut shares of QEP Resources from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective on the stock. in a research note on Tuesday, November 7th. Zacks Investment Research cut shares of QEP Resources from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $9.00 price objective on shares of QEP Resources in a research note on Wednesday, November 1st. Finally, Mizuho reaffirmed a “hold” rating and issued a $11.00 price objective on shares of QEP Resources in a research note on Friday, October 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. QEP Resources has an average rating of “Hold” and an average price target of $14.19.

The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52.

QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.11. The business had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted ($0.21) earnings per share. equities research analysts forecast that QEP Resources, Inc. will post -0.46 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its stake in QEP Resources by 1.0% in the second quarter. BlackRock Inc. now owns 20,160,805 shares of the pipeline company’s stock valued at $203,623,000 after acquiring an additional 208,195 shares during the last quarter. Vanguard Group Inc. lifted its stake in QEP Resources by 1.1% in the second quarter. Vanguard Group Inc. now owns 20,078,248 shares of the pipeline company’s stock valued at $202,790,000 after acquiring an additional 223,181 shares during the last quarter. State Street Corp lifted its stake in QEP Resources by 16.1% in the second quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock valued at $108,526,000 after acquiring an additional 1,489,661 shares during the last quarter. Alliancebernstein L.P. lifted its stake in QEP Resources by 9.8% in the second quarter. Alliancebernstein L.P. now owns 8,393,250 shares of the pipeline company’s stock valued at $84,772,000 after acquiring an additional 746,931 shares during the last quarter. Finally, Caymus Capital Partners L.P. lifted its stake in QEP Resources by 18.2% in the second quarter. Caymus Capital Partners L.P. now owns 7,931,300 shares of the pipeline company’s stock valued at $80,106,000 after acquiring an additional 1,220,700 shares during the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.

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About QEP Resources

QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.

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