QEP Resources (QEP) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of QEP Resources (NYSE:QEP) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. They currently have $11.00 price objective on the pipeline company’s stock.

According to Zacks, “With a diversified asset base, exposure to emerging plays and increased focus on the quality acreage of the prolific Permian Basin, this mid-cap onshore-focused E&P offers a compelling value. QEP Resources has maintained its excellent track record of earnings surprise history, beating estimates in each of the last eleven quarters. Since its split from Questar Corp. in 2010, QEP has established a strong track record of production growth, while maintaining a competitive cost structure that has enabled the company to maintain its margins amid low oil prices. With focus on operating efficiency, a robust balance sheet and ample liquidity, we believe QEP is well positioned going forward and view it as an attractive investment.”

Several other research analysts have also recently weighed in on QEP. ValuEngine cut shares of QEP Resources from a sell rating to a strong sell rating in a report on Friday, September 8th. Piper Jaffray Companies decreased their price objective on shares of QEP Resources from $20.00 to $12.00 and set an overweight rating for the company in a report on Monday, September 18th. Stifel Nicolaus decreased their price objective on shares of QEP Resources from $26.00 to $23.00 and set a buy rating for the company in a report on Tuesday, September 26th. Barclays decreased their price objective on shares of QEP Resources from $9.00 to $8.00 and set an overweight rating for the company in a report on Tuesday, September 26th. Finally, KLR Group reissued a buy rating and set a $14.00 price objective (down from $15.00) on shares of QEP Resources in a report on Wednesday, September 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $13.76.

QEP Resources (NYSE QEP) opened at $9.85 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.52. The stock has a market cap of $2,312.98, a PE ratio of -164.14 and a beta of 1.73. QEP Resources has a twelve month low of $7.02 and a twelve month high of $19.52.

QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.11. The business had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.21) earnings per share. sell-side analysts predict that QEP Resources will post -0.44 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. boosted its position in shares of QEP Resources by 2.8% during the second quarter. Sei Investments Co. now owns 62,343 shares of the pipeline company’s stock worth $630,000 after acquiring an additional 1,695 shares during the last quarter. Arizona State Retirement System boosted its position in shares of QEP Resources by 1.7% during the second quarter. Arizona State Retirement System now owns 101,400 shares of the pipeline company’s stock worth $1,024,000 after acquiring an additional 1,700 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of QEP Resources by 3.0% during the second quarter. Teacher Retirement System of Texas now owns 19,618 shares of the pipeline company’s stock worth $198,000 after acquiring an additional 575 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of QEP Resources by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 2,956,582 shares of the pipeline company’s stock worth $29,861,000 after acquiring an additional 32,618 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of QEP Resources by 9.1% during the second quarter. Legal & General Group Plc now owns 330,997 shares of the pipeline company’s stock worth $3,343,000 after acquiring an additional 27,714 shares during the last quarter. Institutional investors and hedge funds own 93.12% of the company’s stock.

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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.

Analyst Recommendations for QEP Resources (NYSE:QEP)

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