Barclays PLC reaffirmed their overweight rating on shares of QEP Resources Inc (NYSE:QEP) in a research report report published on Saturday, April 22nd. They currently have a $16.00 target price on the pipeline company’s stock, down from their prior target price of $20.00.
Several other equities analysts also recently commented on the stock. FBR & Co set a $20.00 price objective on shares of QEP Resources and gave the company a buy rating in a report on Saturday, April 15th. Stifel Nicolaus initiated coverage on shares of QEP Resources in a research note on Wednesday, April 12th. They issued a buy rating and a $21.00 price target on the stock. Mizuho downgraded shares of QEP Resources from a buy rating to a neutral rating and set a $13.00 price target on the stock. in a research note on Tuesday, March 21st. Deutsche Bank AG decreased their price target on shares of QEP Resources from $22.00 to $18.00 and set a buy rating on the stock in a research note on Tuesday, March 7th. Finally, Wells Fargo & Co upgraded shares of QEP Resources from a market perform rating to an outperform rating in a research note on Friday, February 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. QEP Resources has a consensus rating of Buy and a consensus target price of $22.15.
Shares of QEP Resources (NYSE:QEP) traded up 1.89% during mid-day trading on Friday, hitting $11.30. 3,714,231 shares of the stock traded hands. The stock has a 50-day moving average of $11.65 and a 200-day moving average of $15.51. The company’s market cap is $2.72 billion. QEP Resources has a 52 week low of $10.64 and a 52 week high of $21.12.
QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, April 26th. The pipeline company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.07. QEP Resources had a negative net margin of 79.57% and a negative return on equity of 5.55%. The firm had revenue of $420.10 million for the quarter, compared to the consensus estimate of $402.16 million. During the same period in the previous year, the company earned ($0.53) earnings per share. The company’s quarterly revenue was up 60.8% on a year-over-year basis. Analysts anticipate that QEP Resources will post ($0.70) EPS for the current year.
In other news, Director Phillips S. Baker, Jr. acquired 7,000 shares of the stock in a transaction dated 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 completion of the purchase, the director now directly owns 21,897 shares of the company’s stock, valued at approximately $311,156.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in QEP. TPH Asset Management LLC increased its position in QEP Resources by 30.4% in the first quarter. TPH Asset Management LLC now owns 21,263 shares of the pipeline company’s stock valued at $270,000 after buying an additional 4,963 shares in the last quarter. Credit Suisse AG increased its stake in QEP Resources by 89.9% in the first quarter. Credit Suisse AG now owns 672,434 shares of the pipeline company’s stock worth $8,546,000 after buying an additional 318,354 shares in the last quarter. Paloma Partners Management Co increased its stake in QEP Resources by 13.3% in the first quarter. Paloma Partners Management Co now owns 133,439 shares of the pipeline company’s stock worth $1,696,000 after buying an additional 15,632 shares in the last quarter. State Street Corp increased its stake in QEP Resources by 10.5% in the first quarter. State Street Corp now owns 9,255,582 shares of the pipeline company’s stock worth $117,640,000 after buying an additional 883,124 shares in the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in QEP Resources during the first quarter worth $429,000. 90.76% of the stock is owned by institutional investors.
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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