QEP Resources, Inc. (NYSE:QEP) Director David A. Trice acquired 25,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average cost of $7.20 per share, with a total value of $180,000.00. Following the purchase, the director now owns 40,000 shares of the company’s stock, valued at approximately $288,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
QEP Resources, Inc. (NYSE:QEP) traded up 0.42% during trading on Thursday, reaching $7.12. The company’s stock had a trading volume of 4,609,518 shares. The firm’s 50-day moving average price is $8.69 and its 200 day moving average price is $11.54. QEP Resources, Inc. has a 12-month low of $7.02 and a 12-month high of $21.12. The company’s market capitalization is $1.71 billion.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.08. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The business 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 business earned ($0.23) EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts predict that QEP Resources, Inc. will post ($0.62) earnings per share for the current fiscal year.
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A number of analysts have recently weighed in on the company. KLR Group increased their price objective on QEP Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Barclays PLC reissued an “overweight” rating and set a $16.00 price objective (down previously from $20.00) on shares of QEP Resources in a research note on Saturday, April 22nd. BidaskClub raised QEP Resources from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Credit Suisse Group assumed coverage on QEP Resources in a research note on Thursday, June 1st. They set a “neutral” rating and a $15.00 price objective for the company. Finally, BMO Capital Markets reissued a “buy” rating and set a $11.00 price objective on shares of QEP Resources in a research note on Tuesday, June 27th. 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. The stock presently has an average rating of “Hold” and a consensus price target of $16.53.
Large investors have recently modified their holdings of the company. Commerce Bank bought a new stake in shares of QEP Resources during the second quarter worth $102,000. Suntrust Banks Inc. boosted its stake in shares of QEP Resources by 5.8% in the second quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after buying an additional 748 shares during the period. Pitcairn Co. boosted its stake in shares of QEP Resources by 4.3% in the second quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after buying an additional 563 shares during the period. Flinton Capital Management LLC boosted its stake in shares of QEP Resources by 4.4% in the first quarter. Flinton Capital Management LLC now owns 13,040 shares of the pipeline company’s stock worth $166,000 after buying an additional 544 shares during the period. Finally, Parkwood LLC bought a new stake in shares of QEP Resources during the second quarter worth $191,000. Hedge funds and other institutional investors own 91.91% of the company’s stock.
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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