SunTrust Banks, Inc. reaffirmed their hold rating on shares of QEP Resources, Inc. (NYSE:QEP) in a research note published on Wednesday, November 1st. They currently have a $9.00 price objective on the pipeline company’s stock. SunTrust Banks also issued estimates for QEP Resources’ Q4 2017 earnings at ($0.12) EPS, FY2017 earnings at ($0.49) EPS, FY2018 earnings at ($0.14) EPS, FY2019 earnings at ($0.77) EPS and FY2020 earnings at $0.21 EPS.
Several other analysts also recently issued reports on QEP. Barclays PLC upped their price target on shares of QEP Resources from $8.00 to $9.00 and gave the company an overweight rating in a report on Wednesday, October 11th. Cowen and Company set a $12.00 price target on shares of QEP Resources and gave the company a buy rating in a report on Wednesday, July 19th. National Securities started coverage on shares of QEP Resources in a report on Monday, July 31st. They issued a buy rating and a $11.00 price target on the stock. KLR Group reaffirmed a buy rating and issued a $14.00 price target (down previously from $15.00) on shares of QEP Resources in a report on Wednesday, September 27th. Finally, ValuEngine raised shares of QEP Resources from a strong sell rating to a sell rating in a report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. QEP Resources has a consensus rating of Hold and a consensus target price of $14.19.
QEP Resources (QEP) traded down $0.13 during midday trading on Wednesday, reaching $9.71. 5,528,800 shares of the company’s stock were exchanged, compared to its average volume of 5,037,192. QEP Resources has a one year low of $7.02 and a one year high of $21.12. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.11. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The business had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. During the same period in the previous year, the business posted ($0.21) earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. equities analysts anticipate that QEP Resources will post -0.46 earnings per share for the current year.
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In other QEP Resources news, Director David A. Trice acquired 25,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $7.20 per share, with a total value of $180,000.00. Following the completion of the transaction, the director now directly owns 40,000 shares of the company’s stock, valued at $288,000. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.36% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in QEP. BlackRock Inc. grew its holdings in QEP Resources by 12,055.6% during the 1st quarter. BlackRock Inc. now owns 19,952,610 shares of the pipeline company’s stock valued at $253,598,000 after purchasing an additional 19,788,467 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in QEP Resources by 77.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,548,695 shares of the pipeline company’s stock valued at $45,941,000 after acquiring an additional 1,988,685 shares during the last quarter. Frontier Capital Management Co. LLC boosted its stake in QEP Resources by 98.5% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 3,106,908 shares of the pipeline company’s stock valued at $26,626,000 after acquiring an additional 1,541,894 shares during the last quarter. State Street Corp boosted its stake in QEP Resources by 16.1% during the 2nd quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock valued at $108,526,000 after acquiring an additional 1,489,661 shares during the last quarter. Finally, Key Group Holdings Cayman LTD. boosted its stake in QEP Resources by 55.7% during the 2nd quarter. Key Group Holdings Cayman LTD. now owns 3,463,104 shares of the pipeline company’s stock valued at $34,977,000 after acquiring an additional 1,238,891 shares during the last quarter. 94.61% of the stock is owned by institutional investors.
QEP Resources Company Profile
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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