Piper Jaffray Companies Reiterates Buy Rating for QEP Resources (QEP)
Piper Jaffray Companies reaffirmed their buy rating on shares of QEP Resources (NYSE:QEP) in a research note published on Tuesday morning. The brokerage currently has a $14.00 target price on the pipeline company’s stock.
A number of other equities research analysts have also commented on the stock. 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. Zacks Investment Research raised shares of QEP Resources from a hold rating to a buy rating and set a $11.00 price objective on the stock in a report on Tuesday, December 26th. Barclays increased their price objective on shares of QEP Resources from $8.00 to $9.00 and gave the stock an overweight rating in a report on Wednesday, October 11th. Williams Capital began coverage on shares of QEP Resources in a report on Friday, December 8th. They set a buy rating and a $13.00 price objective on the stock. 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 note on Tuesday, November 14th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $12.75.
Shares of QEP Resources (NYSE QEP) opened at $11.09 on Tuesday. QEP Resources has a fifty-two week low of $7.02 and a fifty-two week high of $18.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.55 and a quick ratio of 1.54.
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 firm had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. The company’s revenue was up 2.0% on a year-over-year basis. research analysts expect that QEP Resources will post -0.43 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Commerce Bank bought a new position in QEP Resources during the 2nd quarter worth approximately $102,000. Suntrust Banks Inc. boosted its stake in QEP Resources by 5.8% during the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after acquiring an additional 748 shares during the last quarter. MML Investors Services LLC boosted its stake in QEP Resources by 56.2% during the 2nd quarter. MML Investors Services LLC now owns 19,645 shares of the pipeline company’s stock worth $198,000 after acquiring an additional 7,070 shares during the last quarter. Southport Management L.L.C. bought a new position in QEP Resources during the 3rd quarter worth approximately $171,000. Finally, Bbva Compass Bancshares Inc. bought a new position in QEP Resources during the 3rd quarter worth approximately $178,000. 93.14% of the stock is currently owned by institutional investors and hedge funds.
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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.
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