Short Interest in QEP Resources, Inc. (NYSE:QEP) Rises By 19.4%

QEP Resources, Inc. (NYSE:QEP) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 18,140,441 shares, an increase of 19.4% from the November 30th total of 15,196,384 shares. Based on an average daily volume of 5,187,966 shares, the days-to-cover ratio is currently 3.5 days. Currently, 7.6% of the shares of the company are short sold.

A number of analysts recently issued reports on the company. Piper Jaffray Companies reissued a “buy” rating and issued a $14.00 target price on shares of QEP Resources in a research report on Tuesday. Zacks Investment Research cut QEP Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, January 2nd. Credit Suisse Group initiated coverage on QEP Resources in a research report on Monday, December 11th. They set an “underperform” rating and a $9.00 price objective for the company. Williams Capital started coverage on QEP Resources in a research report on Friday, December 8th. They set a “buy” rating and a $13.00 price objective for the company. Finally, Mizuho raised QEP Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, November 21st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.88.

QEP Resources (NYSE QEP) opened at $10.98 on Friday. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $2,650.00, a price-to-earnings ratio of -183.00 and a beta of 1.73. QEP Resources has a 1 year low of $7.02 and a 1 year high of $18.92.

QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.11. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The company had revenue of $390.10 million during the quarter, compared to the consensus estimate of $393.87 million. During the same quarter last year, the business posted ($0.21) earnings per share. QEP Resources’s revenue was up 2.0% compared to the same quarter last year. sell-side analysts forecast that QEP Resources will post -0.44 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of QEP Resources by 18.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 114,013 shares of the pipeline company’s stock worth $1,152,000 after purchasing an additional 17,642 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of QEP Resources by 8.5% during the second quarter. Voya Investment Management LLC now owns 1,391,614 shares of the pipeline company’s stock worth $14,055,000 after purchasing an additional 109,002 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of QEP Resources by 19.8% during the second quarter. Engineers Gate Manager LP now owns 174,847 shares of the pipeline company’s stock worth $1,766,000 after purchasing an additional 28,930 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of QEP Resources by 8.9% during the third quarter. Rhumbline Advisers now owns 460,608 shares of the pipeline company’s stock worth $3,947,000 after purchasing an additional 37,825 shares during the last quarter. Finally, Oslo Asset Management AS acquired a new stake in shares of QEP Resources during the third quarter worth $10,041,000. Institutional investors and hedge funds own 93.14% of the company’s stock.

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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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