Equities analysts forecast that QEP Resources Inc (NYSE:QEP) will announce $299.97 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for QEP Resources’ earnings. The highest sales estimate is $317.84 million and the lowest is $288.00 million. QEP Resources posted sales of $560.80 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 46.5%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, October 23rd.
According to Zacks, analysts expect that QEP Resources will report full-year sales of $1.20 billion for the current fiscal year, with estimates ranging from $1.19 billion to $1.21 billion. For the next financial year, analysts anticipate that the company will post sales of $1.41 billion, with estimates ranging from $1.28 billion to $1.82 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover QEP Resources.
QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, August 7th. The pipeline company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.07). QEP Resources had a positive return on equity of 1.29% and a negative net margin of 44.56%. The business had revenue of $296.20 million for the quarter, compared to the consensus estimate of $293.93 million. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was down 44.4% compared to the same quarter last year.
In related news, CEO Timothy J. Cutt bought 15,000 shares of the business’s stock in a transaction on Friday, August 9th. The shares were purchased at an average price of $4.04 per share, for a total transaction of $60,600.00. Following the completion of the transaction, the chief executive officer now directly owns 228,777 shares of the company’s stock, valued at approximately $924,259.08. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard J. Doleshek bought 25,000 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $3.50 per share, for a total transaction of $87,500.00. Following the transaction, the chief financial officer now directly owns 533,723 shares of the company’s stock, valued at $1,868,030.50. The disclosure for this purchase can be found here. Insiders purchased 140,000 shares of company stock worth $534,450 over the last three months. 1.71% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the business. Commonwealth Bank of Australia boosted its position in QEP Resources by 49.2% in the second quarter. Commonwealth Bank of Australia now owns 78,200 shares of the pipeline company’s stock valued at $565,000 after buying an additional 25,800 shares in the last quarter. JPMorgan Chase & Co. boosted its position in QEP Resources by 7.0% in the second quarter. JPMorgan Chase & Co. now owns 1,188,554 shares of the pipeline company’s stock valued at $8,308,000 after buying an additional 77,905 shares in the last quarter. Swiss National Bank boosted its position in QEP Resources by 1.9% in the second quarter. Swiss National Bank now owns 439,742 shares of the pipeline company’s stock valued at $3,179,000 after buying an additional 8,300 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in QEP Resources by 46.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,676,369 shares of the pipeline company’s stock valued at $12,121,000 after buying an additional 533,086 shares in the last quarter. Finally, Balyasny Asset Management LLC boosted its position in QEP Resources by 170.2% in the second quarter. Balyasny Asset Management LLC now owns 372,149 shares of the pipeline company’s stock valued at $2,691,000 after buying an additional 234,440 shares in the last quarter. Hedge funds and other institutional investors own 99.19% of the company’s stock.
Shares of QEP traded up $0.03 during mid-day trading on Wednesday, hitting $2.74. 5,760,059 shares of the company’s stock were exchanged, compared to its average volume of 5,827,273. QEP Resources has a 52 week low of $2.67 and a 52 week high of $10.51. The stock’s 50-day simple moving average is $3.61 and its 200-day simple moving average is $5.67. The firm has a market cap of $704.22 million, a price-to-earnings ratio of -16.12 and a beta of 1.96. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.77.
About QEP Resources
QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.
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