Cowen Begins Coverage on QEP Resources (QEP)

Cowen initiated coverage on shares of QEP Resources (NYSE:QEP) in a research report sent to investors on Thursday morning, The Fly reports. The brokerage issued a market perform rating on the pipeline company’s stock.

Several other research firms also recently commented on QEP. Oppenheimer reissued a buy rating on shares of QEP Resources in a research report on Friday, October 19th. Zacks Investment Research downgraded shares of QEP Resources from a buy rating to a hold rating in a research report on Monday, November 26th. Credit Suisse Group raised shares of QEP Resources from an underperform rating to a neutral rating and set a $11.00 target price for the company in a research report on Tuesday, November 20th. They noted that the move was a valuation call. Wells Fargo & Co downgraded shares of QEP Resources from an outperform rating to a market perform rating and set a $14.00 target price for the company. in a research report on Tuesday, October 23rd. Finally, Piper Jaffray Companies boosted their target price on shares of QEP Resources from $12.00 to $13.00 and gave the stock a hold rating in a research report on Wednesday, November 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. QEP Resources has an average rating of Hold and an average price target of $13.63.

QEP stock opened at $8.03 on Thursday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 6.92, a price-to-earnings-growth ratio of 7.44 and a beta of 1.35. QEP Resources has a 12 month low of $7.04 and a 12 month high of $13.77.

QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, November 7th. The pipeline company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.18. The company had revenue of $560.80 million during the quarter, compared to the consensus estimate of $497.45 million. QEP Resources had a negative net margin of 11.89% and a positive return on equity of 7.86%. The company’s revenue for the quarter was up 43.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) earnings per share. On average, equities research analysts predict that QEP Resources will post 0.09 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of QEP Resources by 1.2% in the third quarter. Vanguard Group Inc. now owns 21,420,121 shares of the pipeline company’s stock worth $242,475,000 after buying an additional 254,888 shares during the last quarter. BlackRock Inc. lifted its stake in shares of QEP Resources by 1.0% in the third quarter. BlackRock Inc. now owns 20,686,789 shares of the pipeline company’s stock worth $234,173,000 after buying an additional 198,575 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of QEP Resources by 13.2% in the third quarter. Dimensional Fund Advisors LP now owns 17,252,748 shares of the pipeline company’s stock worth $195,300,000 after buying an additional 2,008,767 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of QEP Resources by 15.5% in the third quarter. Alliancebernstein L.P. now owns 11,649,775 shares of the pipeline company’s stock worth $131,875,000 after buying an additional 1,563,066 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of QEP Resources by 4.0% in the third quarter. Bank of New York Mellon Corp now owns 4,017,871 shares of the pipeline company’s stock worth $45,482,000 after buying an additional 155,272 shares during the last quarter.

About QEP Resources

QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.

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