QEP Resources, Inc. (QEP) Given “Hold” Rating at SunTrust Banks, Inc.
SunTrust Banks, Inc. reaffirmed their hold rating on shares of QEP Resources, Inc. (NYSE:QEP) in a research note released on Wednesday. SunTrust Banks, Inc. currently has a $9.00 price objective on the pipeline company’s stock. SunTrust Banks also issued estimates for QEP Resources’ Q4 2017 earnings at ($0.12) EPS, FY2017 earnings at ($0.49) EPS, FY2018 earnings at ($0.14) EPS, FY2019 earnings at ($0.77) EPS and FY2020 earnings at $0.21 EPS.
Several other equities research analysts have also recently weighed in on the company. Deutsche Bank AG cut QEP Resources from a buy rating to a hold rating and dropped their price objective for the stock from $18.00 to $13.00 in a report on Tuesday, July 18th. ValuEngine raised QEP Resources from a strong sell rating to a sell rating in a report on Monday, October 2nd. BMO Capital Markets set a $11.00 price objective on QEP Resources and gave the stock a buy rating in a report on Tuesday, October 10th. Piper Jaffray Companies reiterated a buy rating and set a $12.00 target price on shares of QEP Resources in a research report on Sunday, October 22nd. Finally, Barclays PLC restated a buy rating and issued a $10.00 price objective on shares of QEP Resources in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $14.19.
QEP Resources (NYSE:QEP) traded up $0.23 on Wednesday, reaching $9.72. The company had a trading volume of 5,561,641 shares, compared to its average volume of 5,342,917. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.54 and a current ratio of 1.55. QEP Resources has a fifty-two week low of $7.02 and a fifty-two week high of $21.12.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.11. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The business had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. During the same period last year, the company earned ($0.21) EPS. QEP Resources’s revenue for the quarter was up 2.0% compared to the same quarter last year. research analysts forecast that QEP Resources will post -0.46 earnings per share for the current fiscal year.
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In other QEP Resources news, Director David A. Trice bought 25,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $7.20 per share, with a total value of $180,000.00. Following the completion of the purchase, the director now owns 40,000 shares in the company, valued at approximately $288,000. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.36% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of QEP Resources by 1.0% during the second quarter. BlackRock Inc. now owns 20,160,805 shares of the pipeline company’s stock valued at $203,623,000 after buying an additional 208,195 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of QEP Resources by 1.1% during the second quarter. Vanguard Group Inc. now owns 20,078,248 shares of the pipeline company’s stock valued at $202,790,000 after buying an additional 223,181 shares during the last quarter. State Street Corp grew 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 valued at $108,526,000 after buying an additional 1,489,661 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of QEP Resources by 9.8% in the second quarter. Alliancebernstein L.P. now owns 8,393,250 shares of the pipeline company’s stock valued at $84,772,000 after purchasing an additional 746,931 shares during the period. Finally, Caymus Capital Partners L.P. boosted its holdings in shares of QEP Resources by 18.2% in the second quarter. Caymus Capital Partners L.P. now owns 7,931,300 shares of the pipeline company’s stock valued at $80,106,000 after purchasing an additional 1,220,700 shares during the period. 93.75% of the stock is currently owned by hedge funds and other institutional investors.
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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