QEP Resources (QEP) Shares Down 5.4%

QEP Resources, Inc. (NYSE:QEP)’s share price dropped 5.4% during mid-day trading on Tuesday . The company traded as low as $9.52 and last traded at $9.56. Approximately 4,650,438 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 5,016,322 shares. The stock had previously closed at $10.11.

QEP has been the topic of a number of analyst reports. Barclays lowered QEP Resources from an “overweight” rating to an “equal weight” rating and set a $9.00 price target on the stock. in a research report on Tuesday, November 7th. ValuEngine upgraded QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. BMO Capital Markets set a $11.00 price target on QEP Resources and gave the company a “buy” rating in a research report on Tuesday, October 10th. Piper Jaffray Companies reiterated a “buy” rating and issued a $12.00 price target on shares of QEP Resources in a research report on Sunday, October 22nd. Finally, SunTrust Banks reiterated a “hold” rating and issued a $9.00 price target on shares of QEP Resources in a research report on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. QEP Resources currently has an average rating of “Hold” and a consensus price target of $14.19.

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

QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.11. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The company had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. During the same quarter in the prior year, the company earned ($0.21) EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. sell-side analysts forecast that QEP Resources, Inc. will post -0.44 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Commerce Bank acquired a new position in QEP Resources during the 2nd quarter worth approximately $102,000. Suntrust Banks Inc. raised its stake in QEP Resources by 5.8% during the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after buying an additional 748 shares during the period. Pitcairn Co. raised its stake in QEP Resources by 4.3% during the 2nd quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after buying an additional 563 shares during the period. Southport Management L.L.C. acquired a new position in QEP Resources during the 3rd quarter worth approximately $171,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in QEP Resources during the 3rd quarter worth approximately $178,000. Institutional investors own 93.29% 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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