QEP Resources, Inc. (QEP) Lifted to “Buy” at Mizuho
Mizuho upgraded shares of QEP Resources, Inc. (NYSE:QEP) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat reports.
QEP has been the topic of a number of other reports. ValuEngine cut shares of QEP Resources from a sell rating to a strong sell rating in a report on Friday, September 8th. Zacks Investment Research raised shares of QEP Resources from a hold rating to a buy rating and set a $11.00 target price on the stock in a report on Thursday, November 2nd. J P Morgan Chase & Co lowered shares of QEP Resources from an overweight rating to a neutral rating and decreased their price target for the company from $11.00 to $9.00 in a research note on Thursday, July 27th. BMO Capital Markets set a $11.00 price target on shares of QEP Resources and gave the company a buy rating in a research note on Tuesday, November 14th. Finally, Stifel Nicolaus decreased their price target on shares of QEP Resources from $26.00 to $23.00 and set a buy rating on the stock in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $14.19.
Shares of QEP Resources (NYSE:QEP) opened at $9.38 on Tuesday. 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 issued its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.11. The company had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. QEP Resources’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.21) EPS. equities research analysts forecast that QEP Resources will post -0.45 EPS for the current year.
Large investors have recently made changes to their positions in the business. Commerce Bank acquired a new position in shares of QEP Resources during the 2nd quarter worth approximately $102,000. Pitcairn Co. grew its position in shares of QEP Resources by 4.3% during the 2nd quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after purchasing an additional 563 shares in the last quarter. Suntrust Banks Inc. grew its position in shares of 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 purchasing an additional 748 shares in the last quarter. Parkwood LLC acquired a new position in shares of QEP Resources during the 2nd quarter worth approximately $191,000. Finally, LS Investment Advisors LLC grew its position in shares of QEP Resources by 21.1% during the 2nd quarter. LS Investment Advisors LLC now owns 19,064 shares of the pipeline company’s stock worth $193,000 after purchasing an additional 3,316 shares in the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.
About QEP Resources
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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