QEP Resources Inc (NYSE:QEP) Expected to Post Quarterly Sales of $331.26 Million

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Brokerages expect QEP Resources Inc (NYSE:QEP) to announce sales of $331.26 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for QEP Resources’ earnings, with the highest sales estimate coming in at $344.00 million and the lowest estimate coming in at $313.00 million. QEP Resources posted sales of $410.50 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 19.3%. The company is scheduled to report its next earnings results on Wednesday, February 19th.

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 $1.14 billion to $1.23 billion. For the next financial year, analysts forecast that the business will post sales of $1.31 billion, with estimates ranging from $1.22 billion to $1.36 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for QEP Resources.

QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, October 23rd. The pipeline company reported $0.05 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. The company had revenue of $307.50 million during the quarter, compared to the consensus estimate of $295.03 million. QEP Resources had a negative net margin of 47.59% and a positive return on equity of 0.30%. The company’s revenue was down 45.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS.

A number of analysts have recently weighed in on QEP shares. Raymond James cut QEP Resources from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, August 8th. Piper Jaffray Companies raised QEP Resources from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $3.50 to $6.00 in a research note on Monday, October 28th. Williams Capital upgraded shares of QEP Resources from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research report on Thursday, October 24th. ValuEngine raised QEP Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Stephens upgraded QEP Resources from an “equal” rating to an “overweight” rating and set a $7.00 price target on the stock in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. QEP Resources presently has a consensus rating of “Hold” and a consensus price target of $7.67.

NYSE:QEP traded up $0.22 during trading hours on Friday, reaching $3.38. 7,668,624 shares of the stock were exchanged, compared to its average volume of 6,000,370. The stock has a market capitalization of $777.58 million, a P/E ratio of -19.88 and a beta of 2.02. The firm has a 50 day simple moving average of $3.33 and a 200-day simple moving average of $4.75. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.75. QEP Resources has a 52 week low of $2.58 and a 52 week high of $9.01.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 15th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, November 14th. QEP Resources’s dividend payout ratio is presently -47.06%.

Large investors have recently modified their holdings of the stock. Cutler Group LP increased its holdings in shares of QEP Resources by 159.1% in the third quarter. Cutler Group LP now owns 13,900 shares of the pipeline company’s stock valued at $51,000 after buying an additional 37,419 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of QEP Resources by 439.6% in the third quarter. Tower Research Capital LLC TRC now owns 17,668 shares of the pipeline company’s stock worth $66,000 after acquiring an additional 14,394 shares in the last quarter. CAPROCK Group Inc. purchased a new position in shares of QEP Resources in the second quarter worth approximately $72,000. Bluefin Trading LLC acquired a new stake in shares of QEP Resources during the second quarter valued at approximately $92,000. Finally, Teza Capital Management LLC acquired a new stake in shares of QEP Resources during the second quarter valued at approximately $108,000. Hedge funds and other institutional investors own 99.77% of the company’s stock.

QEP Resources Company Profile

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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