QEP Resources Inc. (NYSE:QEP) – Equities researchers at FBR & Co dropped their Q3 2016 earnings per share (EPS) estimates for QEP Resources in a research report issued to clients and investors on Monday. FBR & Co analyst C. Mabry now anticipates that the brokerage will post earnings of ($0.21) per share for the quarter, down from their prior forecast of ($0.20). FBR & Co currently has a “Marketperform” rating on the stock. FBR & Co also issued estimates for QEP Resources’ Q4 2016 earnings at ($0.22) EPS, FY2016 earnings at ($1.19) EPS, Q1 2017 earnings at ($0.23) EPS, Q2 2017 earnings at ($0.23) EPS, Q3 2017 earnings at ($0.22) EPS, Q4 2017 earnings at ($0.21) EPS and FY2017 earnings at ($0.89) EPS.
QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.12. The firm earned $333.70 million during the quarter, compared to the consensus estimate of $362.17 million. QEP Resources had a negative net margin of 67.39% and a negative return on equity of 4.04%. The company’s revenue was down 41.9% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share.
Several other brokerages also recently commented on QEP. Cantor Fitzgerald reissued a “buy” rating on shares of QEP Resources in a research report on Wednesday, June 22nd. KLR Group restated a “buy” rating and set a $32.00 target price (up previously from $31.00) on shares of QEP Resources in a research note on Tuesday, August 2nd. Goldman Sachs Group Inc. assumed coverage on shares of QEP Resources in a research note on Thursday. They set a “neutral” rating on the stock. Barclays PLC upgraded shares of QEP Resources from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $17.00 to $22.00 in a research note on Wednesday, August 3rd. Finally, Simmons upgraded shares of QEP Resources from a “neutral” rating to an “overweight” rating and upped their target price for the company from $20.00 to $24.00 in a research note on Wednesday, June 15th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $22.40.
QEP Resources (NYSE:QEP) opened at 18.77 on Thursday. QEP Resources has a 52 week low of $8.54 and a 52 week high of $20.96. The company’s 50-day moving average is $18.78 and its 200 day moving average is $17.62. The stock’s market cap is $4.50 billion.
A number of large investors have recently added to or reduced their stakes in QEP. ClariVest Asset Management LLC purchased a new stake in QEP Resources during the second quarter worth approximately $105,000. Quantbot Technologies LP purchased a new stake in QEP Resources during the second quarter worth approximately $119,000. Wright Investors Service Inc. purchased a new stake in QEP Resources during the second quarter worth approximately $183,000. MUFG Americas Holdings Corp boosted its stake in QEP Resources by 201.4% in the second quarter. MUFG Americas Holdings Corp now owns 11,255 shares of the company’s stock worth $198,000 after buying an additional 7,521 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in QEP Resources by 461.3% in the second quarter. Meeder Asset Management Inc. now owns 12,428 shares of the company’s stock worth $220,000 after buying an additional 10,214 shares during the last quarter. Institutional investors own 87.51% of the company’s stock.
QEP Resources Company Profile
QEP Resources, Inc (QEP) is a holding company with two subsidiaries, QEP Energy Company and QEP Marketing Company, which are engaged in two primary lines of business: oil and gas exploration and production (QEP Energy), and oil and gas marketing, operation of a gas gathering system and an underground gas storage facility, and corporate activities (QEP Marketing and Other).
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