QEP Resources (QEP) Shares Gap Up to $9.30
QEP Resources, Inc. (NYSE:QEP) gapped up before the market opened on Monday . The stock had previously closed at $9.22, but opened at $9.30. QEP Resources shares last traded at $9.52, with a volume of 1904242 shares.
QEP has been the subject of several research reports. Barclays lowered QEP Resources from an “overweight” rating to an “equal weight” rating and set a $9.00 price objective for the company. in a research note on Tuesday, November 7th. ValuEngine upgraded QEP Resources from a “strong sell” rating to a “sell” rating in a research note 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 research note on Tuesday, October 10th. Piper Jaffray Companies reiterated a “buy” rating and set a $12.00 price objective on shares of QEP Resources in a research note on Sunday, October 22nd. Finally, SunTrust Banks reiterated a “hold” rating and set a $9.00 price objective on shares of QEP Resources in a research note on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $13.76.
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 (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, beating analysts’ consensus estimates of ($0.21) by $0.11. The business had revenue of $390.10 million during the quarter, compared to analyst estimates of $393.87 million. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.21) earnings per share. sell-side analysts anticipate that QEP Resources, Inc. will post -0.44 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Commerce Bank acquired a new position in QEP Resources in the second quarter valued at approximately $102,000. Suntrust Banks Inc. lifted its holdings in QEP Resources by 5.8% in the second 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. lifted its holdings in QEP Resources by 4.3% in the second 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. Southport Management L.L.C. acquired a new position in QEP Resources in the third quarter valued at approximately $171,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in QEP Resources in the third quarter valued at approximately $178,000. Institutional investors and hedge funds own 93.29% of the company’s stock.
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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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