QEP Resources, Inc. (QEP) Given a $11.00 Price Target by BMO Capital Markets Analysts
QEP Resources, Inc. (NYSE:QEP) received a $11.00 target price from BMO Capital Markets in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the pipeline company’s stock. BMO Capital Markets’ price target points to a potential upside of 21.82% from the stock’s previous close.
QEP has been the subject of a number of other reports. ValuEngine downgraded QEP Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 8th. J P Morgan Chase & Co downgraded QEP Resources from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $11.00 to $9.00 in a report on Thursday, July 27th. Stifel Nicolaus lowered their price target on QEP Resources from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, September 26th. Wolfe Research assumed coverage on QEP Resources in a report on Thursday, June 15th. They issued a “market perform” rating for the company. Finally, Cowen and Company set a $12.00 price objective on QEP Resources and gave the company a “buy” rating in a report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $14.93.
Shares of QEP Resources (NYSE:QEP) opened at 9.03 on Tuesday. The stock has a 50 day moving average of $8.07 and a 200-day moving average of $9.58. The company’s market capitalization is $2.17 billion. QEP Resources has a 12-month low of $7.02 and a 12-month high of $21.12.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.08. The firm had revenue of $383.70 million during the quarter, compared to the consensus estimate of $413.27 million. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) earnings per share. Analysts predict that QEP Resources will post ($0.59) earnings per share for the current fiscal year.
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In related news, Director Julie Dill purchased 5,000 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was acquired at an average price of $8.49 per share, for a total transaction of $42,450.00. Following the completion of the purchase, the director now directly owns 5,525 shares of the company’s stock, valued at $46,907.25. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard J. Doleshek purchased 12,500 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were bought at an average price of $7.91 per share, with a total value of $98,875.00. Following the purchase, the chief financial officer now directly owns 304,539 shares of the company’s stock, valued at $2,408,903.49. The disclosure for this purchase can be found here. Insiders have bought 42,500 shares of company stock valued at $321,325 in the last 90 days. Company insiders own 1.36% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in QEP. BlackRock Inc. raised its stake in shares of QEP Resources by 12,055.6% during the first quarter. BlackRock Inc. now owns 19,952,610 shares of the pipeline company’s stock worth $253,598,000 after purchasing an additional 19,788,467 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of QEP Resources by 77.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,548,695 shares of the pipeline company’s stock worth $45,941,000 after purchasing an additional 1,988,685 shares during the last quarter. State Street Corp raised its stake in shares of QEP Resources by 16.1% during the second quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock worth $108,526,000 after purchasing an additional 1,489,661 shares during the last quarter. Key Group Holdings Cayman LTD. raised its stake in shares of QEP Resources by 55.7% during the second quarter. Key Group Holdings Cayman LTD. now owns 3,463,104 shares of the pipeline company’s stock worth $34,977,000 after purchasing an additional 1,238,891 shares during the last quarter. Finally, Caymus Capital Partners L.P. raised its stake in shares of QEP Resources by 18.2% during the second quarter. Caymus Capital Partners L.P. now owns 7,931,300 shares of the pipeline company’s stock worth $80,106,000 after purchasing an additional 1,220,700 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.
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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