QEP Resources, Inc. (QEP) Price Target Lowered to $23.00 at Stifel Nicolaus
QEP Resources, Inc. (NYSE:QEP) had its target price lowered by Stifel Nicolaus from $26.00 to $23.00 in a report issued on Tuesday morning, Marketbeat reports. Stifel Nicolaus currently has a buy rating on the pipeline company’s stock.
QEP has been the topic of several other research reports. Credit Suisse Group initiated coverage on QEP Resources in a research note on Thursday, June 1st. They set a neutral rating and a $15.00 price target on the stock. Cowen and Company set a $12.00 price target on QEP Resources and gave the stock a buy rating in a research note on Friday, August 25th. Wolfe Research initiated coverage on QEP Resources in a research note on Thursday, June 15th. They set a market perform rating on the stock. BidaskClub lowered QEP Resources from a sell rating to a strong sell rating in a research note on Thursday, July 27th. Finally, Deutsche Bank AG lowered QEP Resources from a buy rating to a hold rating and decreased their price target for the stock from $18.00 to $13.00 in a research note on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $15.69.
QEP Resources (NYSE:QEP) remained flat at $8.57 during midday trading on Tuesday. 4,227,998 shares of the company traded hands. QEP Resources has a 1-year low of $7.02 and a 1-year high of $21.12. The stock has a 50-day moving average of $7.54 and a 200-day moving average of $10.05. The firm’s market capitalization is $2.06 billion.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, July 26th. The pipeline company reported ($0.12) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.08. The business had revenue of $383.70 million for the quarter, compared to analyst estimates of $413.27 million. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.23) EPS. Equities research analysts predict that QEP Resources will post ($0.60) earnings per share for the current fiscal year.
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In other QEP Resources news, Director Julie Dill purchased 5,000 shares of the business’s stock in a transaction on Friday, July 28th. The stock was bought at an average cost of $8.49 per share, for a total transaction of $42,450.00. Following the acquisition, the director now owns 5,525 shares of the company’s stock, valued at approximately $46,907.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard J. Doleshek purchased 12,500 shares of the business’s stock in a transaction on Friday, July 28th. The stock was acquired at an average price of $7.91 per share, with a total value of $98,875.00. Following the completion of the acquisition, the chief financial officer now directly owns 304,539 shares in the company, valued at approximately $2,408,903.49. The disclosure for this purchase can be found here. Insiders acquired a total of 42,500 shares of company stock valued at $321,325 over the last quarter. 1.36% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Commerce Bank acquired a new position in QEP Resources in the 2nd quarter valued at $102,000. Suntrust Banks Inc. raised its holdings in QEP Resources by 5.8% in the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock valued at $135,000 after acquiring an additional 748 shares during the last quarter. Pitcairn Co. raised its holdings in QEP Resources by 4.3% in the 2nd quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock valued at $136,000 after acquiring an additional 563 shares during the last quarter. Parkwood LLC acquired a new position in QEP Resources in the 2nd quarter valued at $191,000. Finally, LS Investment Advisors LLC raised its holdings in QEP Resources by 21.1% in the 2nd quarter. LS Investment Advisors LLC now owns 19,064 shares of the pipeline company’s stock valued at $193,000 after acquiring an additional 3,316 shares during the last quarter. Institutional investors own 93.21% 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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