QEP Resources (QEP) Shares Up 6.8%

Shares of QEP Resources, Inc. (NYSE:QEP) shot up 6.8% during trading on Thursday . The stock traded as high as $9.73 and last traded at $9.61. 5,533,286 shares traded hands during trading, an increase of 11% from the average session volume of 4,992,496 shares. The stock had previously closed at $9.00.

Several brokerages have recently commented on QEP. Stifel Nicolaus reduced their price objective on shares of QEP Resources from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, September 26th. Barclays reduced their price objective on shares of QEP Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, September 26th. KLR Group reaffirmed a “buy” rating and set a $14.00 price objective (down previously from $15.00) on shares of QEP Resources in a research report on Wednesday, September 27th. Williams Capital began coverage on shares of 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, ValuEngine raised shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. QEP Resources has a consensus rating of “Hold” and a consensus price target of $13.76.

The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealthsource Partners LLC grew its position in QEP Resources by 0.5% in the 2nd quarter. Wealthsource Partners LLC now owns 24,712 shares of the pipeline company’s stock valued at $250,000 after purchasing an additional 123 shares during the period. Utah Retirement Systems lifted its stake in QEP Resources by 0.5% during the 2nd quarter. Utah Retirement Systems now owns 43,794 shares of the pipeline company’s stock valued at $442,000 after acquiring an additional 200 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in QEP Resources by 3.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 19,618 shares of the pipeline company’s stock valued at $198,000 after acquiring an additional 575 shares in the last quarter. Suntrust Banks Inc. lifted its stake in QEP Resources by 5.8% during the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock valued at $135,000 after acquiring an additional 748 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in QEP Resources by 3.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 25,470 shares of the pipeline company’s stock valued at $257,000 after acquiring an additional 778 shares in the last quarter. 93.12% of the stock is owned by institutional investors and hedge funds.

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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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