QEP Resources (QEP) Given “Buy” Rating at Piper Jaffray Companies

QEP Resources (NYSE:QEP)‘s stock had its “buy” rating reissued by analysts at Piper Jaffray Companies in a report issued on Tuesday. They currently have a $14.00 price objective on the pipeline company’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 30.72% from the stock’s current price.

Other analysts also recently issued reports about the company. Barclays increased their price objective on QEP Resources from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Wednesday, October 11th. KLR Group reaffirmed a “buy” rating and set a $14.00 price target (down previously from $15.00) on shares of QEP Resources in a research report on Wednesday, September 27th. BMO Capital Markets set a $11.00 price target on shares of QEP Resources and gave the company a “buy” rating in a research report on Tuesday, October 10th. ValuEngine raised shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, Stifel Nicolaus cut their price target on shares of QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.88.

Shares of QEP Resources (QEP) opened at $10.71 on Tuesday. The firm has a market capitalization of $2,580.00, a price-to-earnings ratio of -178.50 and a beta of 1.73. QEP Resources has a 1-year low of $7.02 and a 1-year high of $18.92. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.52.

QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.11. The business had revenue of $390.10 million during the quarter, compared to the consensus estimate of $393.87 million. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. QEP Resources’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.21) earnings per share. equities analysts anticipate that QEP Resources will post -0.44 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of QEP Resources by 1.0% during the 2nd quarter. BlackRock Inc. now owns 20,160,805 shares of the pipeline company’s stock worth $203,623,000 after purchasing an additional 208,195 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of QEP Resources by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,078,248 shares of the pipeline company’s stock worth $202,790,000 after purchasing an additional 223,181 shares in the last quarter. State Street Corp boosted its position in shares of QEP Resources by 16.1% during the 2nd quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock worth $108,526,000 after purchasing an additional 1,489,661 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of QEP Resources by 9.8% during the 2nd quarter. Alliancebernstein L.P. now owns 8,393,250 shares of the pipeline company’s stock worth $84,772,000 after purchasing an additional 746,931 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in QEP Resources by 47.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock valued at $57,549,000 after acquiring an additional 2,166,476 shares in the last quarter. 93.14% of the stock is currently owned by institutional investors.

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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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