QEP Resources, Inc. (NYSE:QEP) had its target price upped by equities research analysts at Barclays PLC from $8.00 to $9.00 in a report released on Wednesday. The firm currently has an “overweight” rating on the pipeline company’s stock. Barclays PLC’s target price would suggest a potential upside of 2.04% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. BidaskClub raised QEP Resources from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. KLR Group reaffirmed a “buy” rating and set a $14.00 price target (down from $15.00) on shares of QEP Resources in a report on Wednesday, September 27th. National Securities assumed coverage on QEP Resources in a report on Monday, July 31st. They set a “buy” rating and a $11.00 price target for the company. Cowen and Company set a $12.00 price target on QEP Resources and gave the company a “buy” rating in a report on Wednesday, July 19th. Finally, ValuEngine raised 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, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $14.93.
QEP Resources (NYSE:QEP) opened at 8.82 on Wednesday. The firm’s market cap is $2.12 billion. The firm’s 50-day moving average price is $8.11 and its 200-day moving average price is $9.57. QEP Resources has a 12 month low of $7.02 and a 12 month high of $21.12.
QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $383.70 million during the quarter, compared to analysts’ expectations of $413.27 million. During the same period last year, the firm posted ($0.23) EPS. The business’s revenue was up 15.0% on a year-over-year basis. Equities research analysts predict that QEP Resources will post ($0.59) earnings per share for the current year.
In related news, CFO Richard J. Doleshek purchased 12,500 shares of QEP Resources stock in a transaction dated Friday, July 28th. The shares were acquired at an average cost of $7.91 per share, for a total transaction of $98,875.00. Following the transaction, the chief financial officer now directly owns 304,539 shares of the company’s stock, valued at $2,408,903.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Julie Dill purchased 5,000 shares of QEP Resources stock in a transaction dated Friday, July 28th. The stock was bought at an average price of $8.49 per share, for a total transaction of $42,450.00. Following the completion of the transaction, the director now directly owns 5,525 shares in the company, valued at $46,907.25. The disclosure for this purchase can be found here. Insiders acquired a total of 42,500 shares of company stock worth $321,325 over the last quarter. Corporate insiders own 1.36% of the company’s stock.
Several large investors have recently bought and sold shares of QEP. Commerce Bank bought a new position in shares of QEP Resources in the 2nd quarter worth $102,000. Suntrust Banks Inc. boosted its position in shares of QEP Resources by 5.8% in the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after purchasing an additional 748 shares during the last quarter. Pitcairn Co. boosted its position in shares of QEP Resources by 4.3% in the 2nd quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after purchasing an additional 563 shares during the last quarter. Parkwood LLC bought a new position in shares of QEP Resources in the 2nd quarter worth $191,000. Finally, LS Investment Advisors LLC boosted its position in shares of QEP Resources by 21.1% in the 2nd quarter. LS Investment Advisors LLC now owns 19,064 shares of the pipeline company’s stock worth $193,000 after purchasing an additional 3,316 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.
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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