Equities analysts expect that QEP Resources Inc (NYSE:QEP) will post sales of $302.75 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for QEP Resources’ earnings. The lowest sales estimate is $280.00 million and the highest is $325.00 million. QEP Resources reported sales of $532.40 million in the same quarter last year, which indicates a negative year-over-year growth rate of 43.1%. The business is scheduled to issue its next earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that QEP Resources will report full year sales of $1.21 billion for the current financial year, with estimates ranging from $1.03 billion to $1.30 billion. For the next financial year, analysts anticipate that the business will post sales of $1.52 billion, with estimates ranging from $1.22 billion to $2.04 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover QEP Resources.

QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, April 24th. The pipeline company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.17. The business had revenue of $280.60 million during the quarter, compared to the consensus estimate of $289.23 million. QEP Resources had a negative net margin of 60.23% and a positive return on equity of 1.91%. The company’s revenue was down 34.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.20) earnings per share.

A number of analysts have commented on QEP shares. Oppenheimer upped their price target on shares of Valeritas from $1.25 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday, July 9th. SunTrust Banks set a $75.00 price target on shares of Cimarex Energy and gave the company a “hold” rating in a research report on Tuesday, April 23rd. ValuEngine cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Williams Capital reiterated a “hold” rating and issued a $27.00 price objective on shares of Cabot Oil & Gas in a research note on Monday. Finally, Tudor Pickering lowered shares of MEG Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $10.73.

A number of hedge funds have recently made changes to their positions in the business. United Services Automobile Association boosted its position in shares of QEP Resources by 4.0% in the 4th quarter. United Services Automobile Association now owns 45,063 shares of the pipeline company’s stock worth $254,000 after purchasing an additional 1,733 shares during the last quarter. TT International acquired a new stake in shares of QEP Resources in the first quarter valued at about $2,338,000. Shell Asset Management Co. acquired a new position in QEP Resources during the first quarter worth approximately $212,000. Two Sigma Advisers LP acquired a new position in QEP Resources during the fourth quarter worth approximately $1,493,000. Finally, California Public Employees Retirement System increased its position in QEP Resources by 14.8% during the fourth quarter. California Public Employees Retirement System now owns 688,245 shares of the pipeline company’s stock worth $3,875,000 after buying an additional 88,616 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.

NYSE QEP traded down $0.17 on Wednesday, reaching $5.15. The company had a trading volume of 7,655,739 shares, compared to its average volume of 5,279,686. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -30.29 and a beta of 1.94. QEP Resources has a fifty-two week low of $5.00 and a fifty-two week high of $12.33. The business has a 50 day moving average price of $6.60. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79.

About QEP Resources

QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.

Further Reading: Why is cost of goods sold important?

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

Earnings History and Estimates 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.