Qep Resources (NYSE:QEP) has received an average recommendation of “Hold” from the twenty-one ratings firms that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $13.10.
Several equities research analysts recently issued reports on the stock. ValuEngine cut shares of Qep Resources from a “hold” rating to a “sell” rating in a research report on Monday. Piper Jaffray set a $13.00 target price on shares of Qep Resources and gave the stock a “buy” rating in a research report on Wednesday, March 14th. B. Riley set a $10.00 target price on shares of Qep Resources and gave the stock a “hold” rating in a research report on Friday, March 9th. TheStreet raised shares of Qep Resources from a “d” rating to a “c-” rating in a research report on Tuesday, March 13th. Finally, Deutsche Bank began coverage on shares of Qep Resources in a research report on Thursday, February 1st. They set a “hold” rating and a $11.00 price target on the stock.
Shares of QEP traded down $0.44 during mid-day trading on Friday, hitting $9.64. The company had a trading volume of 2,621,833 shares, compared to its average volume of 6,666,029. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.28 and a current ratio of 0.29. Qep Resources has a 1-year low of $7.02 and a 1-year high of $12.90. The stock has a market capitalization of $2,373.54, a PE ratio of 13.09 and a beta of 1.53.
Qep Resources announced that its board has initiated a share repurchase plan on Wednesday, February 28th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the pipeline company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In related news, Director David A. Trice purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 8th. The stock was acquired at an average price of $9.00 per share, for a total transaction of $90,000.00. Following the completion of the purchase, the director now owns 50,000 shares in the company, valued at $450,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.36% of the company’s stock.
Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in Qep Resources by 47.6% in the third quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock worth $57,549,000 after purchasing an additional 2,166,476 shares during the period. Oslo Asset Management AS boosted its holdings in Qep Resources by 123.0% in the fourth quarter. Oslo Asset Management AS now owns 2,612,900 shares of the pipeline company’s stock worth $25,005,000 after purchasing an additional 1,441,200 shares during the period. Schroder Investment Management Group acquired a new position in Qep Resources in the fourth quarter worth $11,068,000. HBK Investments L P boosted its holdings in Qep Resources by 59.9% in the fourth quarter. HBK Investments L P now owns 2,210,358 shares of the pipeline company’s stock worth $21,153,000 after purchasing an additional 828,436 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Qep Resources by 4.9% in the fourth quarter. Alliancebernstein L.P. now owns 10,177,149 shares of the pipeline company’s stock worth $97,395,000 after purchasing an additional 472,446 shares during the period. Institutional investors and hedge funds own 93.95% of the company’s stock.
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Qep Resources Company Profile
QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.
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