QEP Resources (QEP) Lifted to “Buy” at Zacks Investment Research

QEP Resources (NYSE:QEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $9.50 target price on the pipeline company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 24.02% from the company’s current price.

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 recently weighed in on QEP. Mizuho set a $15.00 price target on shares of QEP Resources and gave the company a “buy” rating in a research report on Tuesday, January 16th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $14.00 price target on shares of QEP Resources in a research report on Tuesday, January 9th. Barclays cut shares of QEP Resources from an “overweight” rating to an “equal weight” rating and set a $9.00 target price on the stock. in a research report on Tuesday, November 7th. Deutsche Bank assumed coverage on shares of QEP Resources in a research report on Thursday, February 1st. They set a “hold” rating and a $11.00 target price on the stock. Finally, ValuEngine cut shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.59.

QEP Resources (NYSE QEP) opened at $7.66 on Wednesday. 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 has a 12-month low of $7.02 and a 12-month high of $17.58.

Several large investors have recently modified their holdings of the stock. Wealthsource Partners LLC increased its stake in shares of QEP Resources by 0.5% in the second quarter. Wealthsource Partners LLC now owns 24,712 shares of the pipeline company’s stock worth $250,000 after buying an additional 123 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of QEP Resources by 5.8% in the second quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after buying an additional 748 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of QEP Resources by 1.5% in the second quarter. HighTower Advisors LLC now owns 85,900 shares of the pipeline company’s stock worth $869,000 after buying an additional 1,242 shares during the last quarter. Kimelman & Baird LLC increased its stake in shares of QEP Resources by 3.1% in the second quarter. Kimelman & Baird LLC now owns 53,670 shares of the pipeline company’s stock worth $542,000 after buying an additional 1,600 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its stake in shares of QEP Resources by 3.1% in the third quarter. Mutual of America Capital Management LLC now owns 200,727 shares of the pipeline company’s stock worth $1,720,000 after buying an additional 5,981 shares during the last quarter. Institutional investors and hedge funds own 93.41% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “QEP Resources (QEP) Lifted to “Buy” at Zacks Investment Research” was first published by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another domain, it was illegally copied and republished in violation of international trademark and copyright legislation. The legal version of this piece can be viewed at https://www.com-unik.info/2018/02/09/qep-resources-qep-lifted-to-buy-at-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on QEP Resources (QEP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for QEP Resources (NYSE:QEP)

Receive News & Ratings for QEP Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QEP Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit