QEP Resources, Inc. (NYSE:QEP) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday, July 27th.
QEP has been the topic of a number of other reports. Credit Suisse Group initiated coverage on shares of QEP Resources in a research note on Thursday, June 1st. They issued a “neutral” rating and a $15.00 price objective on the stock. KLR Group upped their price objective on shares of QEP Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Wolfe Research initiated coverage on shares of QEP Resources in a research note on Thursday, June 15th. They issued a “market perform” rating on the stock. Stifel Nicolaus initiated coverage on shares of QEP Resources in a research note on Wednesday, April 12th. They set a “buy” rating and a $21.00 target price on the stock. Finally, Barclays PLC reissued an “overweight” rating and set a $16.00 target price (down from $20.00) on shares of QEP Resources in a research note on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. QEP Resources currently has a consensus rating of “Hold” and an average target price of $16.53.
QEP Resources (NYSE:QEP) opened at 7.09 on Thursday. The firm’s market cap is $1.71 billion. QEP Resources has a 52 week low of $7.02 and a 52 week high of $21.12. The firm’s 50 day moving average price is $8.69 and its 200-day moving average price is $11.54.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.08. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The firm had revenue of $383.70 million during the quarter, compared to analysts’ expectations of $413.27 million. During the same period in the prior year, the company posted ($0.23) EPS. The company’s revenue was up 15.0% on a year-over-year basis. On average, analysts forecast that QEP Resources will post ($0.62) EPS for the current year.
In other QEP Resources news, Director Julie Dill bought 5,000 shares of the business’s stock in a transaction on Friday, July 28th. The stock was purchased at an average price of $8.49 per share, for a total transaction of $42,450.00. Following the completion of the transaction, the director now directly owns 5,525 shares of the company’s stock, valued at $46,907.25. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard J. Doleshek acquired 12,500 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was purchased at an average price of $7.91 per share, with a total value of $98,875.00. Following the completion of the transaction, the chief financial officer now directly owns 304,539 shares of the company’s stock, valued at approximately $2,408,903.49. The disclosure for this purchase can be found here. Company insiders own 1.36% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in QEP. Dynamic Technology Lab Private Ltd purchased a new position in QEP Resources during the second quarter worth approximately $221,000. Wealthsource Partners LLC raised its stake in shares of QEP Resources by 0.5% in the second quarter. Wealthsource Partners LLC now owns 24,712 shares of the pipeline company’s stock valued at $250,000 after buying an additional 123 shares during the last quarter. Schneider Capital Management Corp raised its stake in shares of QEP Resources by 328.9% in the second quarter. Schneider Capital Management Corp now owns 527,898 shares of the pipeline company’s stock valued at $5,332,000 after buying an additional 404,820 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of QEP Resources by 18.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 114,013 shares of the pipeline company’s stock valued at $1,152,000 after buying an additional 17,642 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of QEP Resources by 2.2% in the second quarter. The Manufacturers Life Insurance Company now owns 353,520 shares of the pipeline company’s stock valued at $3,570,000 after buying an additional 7,680 shares during the last quarter. Institutional investors own 91.91% of the company’s stock.
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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