Credit Suisse Group Begins Coverage on QEP Resources (QEP)
Equities research analysts at Credit Suisse Group started coverage on shares of QEP Resources (NYSE:QEP) in a research note issued to investors on Monday. The brokerage set an “underperform” rating and a $9.00 price target on the pipeline company’s stock. Credit Suisse Group’s price target indicates a potential downside of 4.86% from the company’s previous close.
A number of other equities analysts have also weighed in on QEP. Cowen set a $12.00 target price on QEP Resources and gave the stock a “buy” rating in a research report on Friday, August 25th. ValuEngine lowered QEP Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, September 8th. Piper Jaffray Companies lowered their target price on QEP Resources from $20.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. Stifel Nicolaus lowered their target price on QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, September 26th. Finally, Barclays lowered their price target on QEP Resources from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $13.76.
Shares of QEP Resources (NYSE QEP) traded up $0.16 during trading hours on Monday, hitting $9.46. The stock had a trading volume of 3,067,700 shares, compared to its average volume of 4,998,662. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. QEP Resources has a one year low of $7.02 and a one year high of $21.12.
A number of large investors have recently made changes to their positions in QEP. Commerce Bank bought a new position in QEP Resources in the 2nd quarter valued at $102,000. Suntrust Banks Inc. grew its stake 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 purchasing an additional 748 shares during the period. Pitcairn Co. grew its stake 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 purchasing an additional 563 shares during the period. Southport Management L.L.C. bought a new position in QEP Resources in the 3rd quarter valued at $171,000. Finally, Bbva Compass Bancshares Inc. bought a new position in QEP Resources in the 3rd quarter valued at $178,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.
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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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