QEP Resources (NYSE:QEP) Earns Market Perform Rating from Analysts at BMO Capital Markets
BMO Capital Markets started coverage on shares of QEP Resources (NYSE:QEP) in a research note released on Tuesday morning, BenzingaRatingsTable reports. The brokerage issued a market perform rating and a $5.00 target price on the pipeline company’s stock.
QEP has been the topic of a number of other reports. CIBC restated a market perform rating on shares of QEP Resources in a research note on Tuesday, July 9th. Williams Capital restated a hold rating and set a $5.00 target price on shares of QEP Resources in a research note on Thursday, August 22nd. JPMorgan Chase & Co. lowered shares of QEP Resources from a neutral rating to an underweight rating and cut their target price for the stock from $11.00 to $9.00 in a research note on Friday, June 7th. Zacks Investment Research lowered shares of QEP Resources from a buy rating to a hold rating in a research note on Wednesday, May 22nd. Finally, Oppenheimer lowered shares of QEP Resources from an outperform rating to a market perform rating and set a $7.25 price target on the stock. in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. QEP Resources has an average rating of Hold and an average target price of $8.91.
NYSE QEP traded down $0.09 during trading hours on Tuesday, reaching $3.90. The company had a trading volume of 54,942 shares, compared to its average volume of 5,118,651. The stock has a 50-day moving average of $4.10 and a 200 day moving average of $6.49. QEP Resources has a 1-year low of $3.34 and a 1-year high of $12.05. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $984.96 million, a P/E ratio of -22.71 and a beta of 1.97.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th were issued a $0.02 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.05%. QEP Resources’s dividend payout ratio (DPR) is -47.06%.
In other QEP Resources news, Director David A. Trice purchased 10,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $3.80 per share, for a total transaction of $38,000.00. Following the acquisition, the director now owns 60,000 shares in the company, valued at approximately $228,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Timothy J. Cutt acquired 15,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $4.04 per share, for a total transaction of $60,600.00. Following the transaction, the chief executive officer now directly owns 228,777 shares in the company, valued at $924,259.08. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 140,000 shares of company stock worth $534,450. Company insiders own 1.71% of the company’s stock.
Large investors have recently made changes to their positions in the stock. CAPROCK Group Inc. purchased a new stake in shares of QEP Resources during the second quarter valued at approximately $72,000. Bluefin Trading LLC purchased a new stake in QEP Resources during the second quarter worth $92,000. Teza Capital Management LLC acquired a new position in QEP Resources during the second quarter worth $108,000. Tiedemann Advisors LLC acquired a new position in QEP Resources during the second quarter worth $108,000. Finally, Royal London Asset Management Ltd. raised its position in shares of QEP Resources by 165.5% in the second quarter. Royal London Asset Management Ltd. now owns 16,809 shares of the pipeline company’s stock valued at $121,000 after buying an additional 10,479 shares during the last quarter. Institutional investors own 99.33% of the company’s stock.
QEP Resources Company Profile
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.
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