QEP Resources Inc (QEP) Receives $24.69 Consensus Price Target from Analysts

Shares of QEP Resources Inc (NYSE:QEP) have been given a consensus rating of “Buy” by the eighteen research firms that are currently covering the company. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twelve have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $23.85.

QEP has been the topic of a number of recent analyst reports. Wells Fargo & Co upgraded shares of QEP Resources from a “market perform” rating to an “outperform” rating in a report on Friday, February 10th. Mizuho cut shares of QEP Resources from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a research note on Tuesday, March 21st. Deutsche Bank AG lowered their target price on shares of QEP Resources from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, March 7th. FBR & Co set a $24.00 target price on shares of QEP Resources and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Finally, Stifel Nicolaus started coverage on shares of QEP Resources in a research note on Wednesday, April 12th. They issued a “buy” rating and a $21.00 target price for the company.

Shares of QEP Resources (NYSE:QEP) traded up 0.55% during mid-day trading on Monday, reaching $11.05. 4,290,537 shares of the company’s stock were exchanged. The stock’s market cap is $2.65 billion. QEP Resources has a one year low of $10.92 and a one year high of $21.12. The company has a 50 day moving average price of $12.57 and a 200-day moving average price of $16.48.

QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, February 22nd. The pipeline company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. QEP Resources had a negative net margin of 79.57% and a negative return on equity of 5.55%. The business had revenue of $399.70 million for the quarter, compared to analysts’ expectations of $395.90 million. During the same period last year, the business earned ($0.01) EPS. The company’s revenue was down 14.6% compared to the same quarter last year. On average, analysts predict that QEP Resources will post ($0.75) EPS for the current year.

In related news, Director Phillips S. Baker, Jr. purchased 7,000 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The stock was bought at an average price of $14.21 per share, with a total value of $99,470.00. Following the acquisition, the director now owns 21,897 shares in the company, valued at $311,156.37. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.36% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in QEP. Bronfman E.L. Rothschild L.P. boosted its stake in shares of QEP Resources by 8,263.0% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 6,774 shares of the pipeline company’s stock valued at $132,000 after buying an additional 6,693 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of QEP Resources by 41.9% in the third quarter. Advisors Asset Management Inc. now owns 7,097 shares of the pipeline company’s stock valued at $139,000 after buying an additional 2,097 shares during the period. ClariVest Asset Management LLC boosted its stake in shares of QEP Resources by 63.1% in the third quarter. ClariVest Asset Management LLC now owns 9,672 shares of the pipeline company’s stock valued at $189,000 after buying an additional 3,743 shares during the period. Sciencast Management LP acquired a new stake in shares of QEP Resources during the fourth quarter valued at about $191,000. Finally, Raymond James Trust N.A. acquired a new stake in shares of QEP Resources during the third quarter valued at about $204,000. 90.76% of the stock is currently owned by institutional investors.

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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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