QEP Resources (QEP) Upgraded at Zacks Investment Research

QEP Resources (NYSE:QEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage presently has a $12.00 price target on the pipeline company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 9.29% from the company’s previous close.

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.”

A number of other brokerages have also commented on QEP. Piper Jaffray Companies restated a “buy” rating and set a $14.00 price objective on shares of QEP Resources in a report on Tuesday. Barclays lowered shares of QEP Resources from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective on the stock. in a report on Tuesday, November 7th. Credit Suisse Group started coverage on shares of QEP Resources in a report on Monday, December 11th. They set an “underperform” rating and a $9.00 price objective on the stock. Williams Capital started coverage on shares of QEP Resources in a research report on Friday, December 8th. They issued a “buy” rating and a $13.00 target price for the company. Finally, BMO Capital Markets set a $11.00 target price on shares of QEP Resources and gave the company a “buy” rating in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. QEP Resources has an average rating of “Hold” and an average price target of $13.94.

Shares of QEP Resources (NYSE:QEP) traded up $0.41 during trading hours on Friday, hitting $10.98. 6,741,900 shares of the company were exchanged, compared to its average volume of 5,914,112. QEP Resources has a fifty-two week low of $7.02 and a fifty-two week high of $18.92. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $2,650.00, a price-to-earnings ratio of -183.00 and a beta of 1.73.

QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, October 25th. The pipeline company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $393.87 million. During the same period last year, the business posted ($0.21) earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. equities analysts predict that QEP Resources will post -0.44 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of QEP Resources by 1.0% in the 2nd quarter. BlackRock Inc. now owns 20,160,805 shares of the pipeline company’s stock valued at $203,623,000 after acquiring an additional 208,195 shares during the period. Vanguard Group Inc. grew its position in shares of QEP Resources by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,078,248 shares of the pipeline company’s stock valued at $202,790,000 after acquiring an additional 223,181 shares during the period. State Street Corp grew its position in shares of QEP Resources by 16.1% in the 2nd quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock valued at $108,526,000 after acquiring an additional 1,489,661 shares during the period. Dimensional Fund Advisors LP grew its position in shares of 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 during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of QEP Resources by 21.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 4,032,265 shares of the pipeline company’s stock valued at $34,557,000 after acquiring an additional 716,265 shares during the period. 93.14% of the stock is 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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