SunTrust Banks Analysts Lift Earnings Estimates for QEP Resources, Inc. (QEP)
QEP Resources, Inc. (NYSE:QEP) – Equities research analysts at SunTrust Banks lifted their FY2017 EPS estimates for shares of QEP Resources in a research note issued on Monday. SunTrust Banks analyst N. Dingmann now expects that the pipeline company will earn ($0.49) per share for the year, up from their previous estimate of ($0.64). SunTrust Banks currently has a “Hold” rating and a $9.00 target price on the stock. SunTrust Banks also issued estimates for QEP Resources’ Q4 2017 earnings at ($0.12) EPS, FY2018 earnings at ($0.14) EPS, FY2019 earnings at ($0.77) EPS and FY2020 earnings at $0.21 EPS.
Other analysts have also recently issued research reports about the company. Barclays PLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of QEP Resources in a report on Friday, July 7th. KLR Group reaffirmed a “buy” rating and issued a $14.00 price target (down previously from $15.00) on shares of QEP Resources in a report on Wednesday, September 27th. Cowen and Company set a $12.00 price target on QEP Resources and gave the company a “buy” rating in a report on Friday, August 25th. National Securities initiated coverage on QEP Resources in a report on Monday, July 31st. They issued a “buy” rating and a $11.00 price target on the stock. Finally, Stifel Nicolaus lowered their price target on QEP Resources from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $14.19.
QEP Resources (NYSE:QEP) last released 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. QEP Resources had a negative return on equity of 3.48% and a negative net margin of 0.90%. The firm had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $393.87 million. During the same quarter in the previous year, the business posted ($0.21) earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in QEP Resources by 1.0% during the 2nd quarter. BlackRock Inc. now owns 20,160,805 shares of the pipeline company’s stock worth $203,623,000 after acquiring an additional 208,195 shares during the last quarter. Vanguard Group Inc. grew its position in QEP Resources by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 20,078,248 shares of the pipeline company’s stock worth $202,790,000 after acquiring an additional 223,181 shares during the last quarter. State Street Corp grew its position in QEP Resources by 16.1% during the 2nd quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock worth $108,526,000 after acquiring an additional 1,489,661 shares during the last quarter. Alliancebernstein L.P. grew its position in QEP Resources by 9.8% during the 2nd quarter. Alliancebernstein L.P. now owns 8,393,250 shares of the pipeline company’s stock worth $84,772,000 after acquiring an additional 746,931 shares during the last quarter. Finally, Caymus Capital Partners L.P. grew its position in QEP Resources by 18.2% during the 2nd quarter. Caymus Capital Partners L.P. now owns 7,931,300 shares of the pipeline company’s stock worth $80,106,000 after acquiring an additional 1,220,700 shares during the last quarter. Institutional investors and hedge funds own 93.75% of the company’s stock.
In related news, Director David A. Trice purchased 25,000 shares of QEP Resources stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $7.20 per share, for a total transaction of $180,000.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at $288,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.36% 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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