Stock analysts at Mizuho initiated coverage on shares of QEP Resources Inc. (NYSE:QEP) in a research report issued to clients and investors on Wednesday. The firm set a “buy” rating and a $24.00 price target on the stock. Mizuho’s price target points to a potential upside of 27.86% from the stock’s current price.
QEP has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of QEP Resources from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Barclays PLC upgraded shares of QEP Resources from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $17.00 to $22.00 in a report on Wednesday, August 3rd. KLR Group reiterated a “buy” rating and issued a $32.00 price target (up previously from $31.00) on shares of QEP Resources in a report on Tuesday, August 2nd. FBR & Co reiterated a “marketperform” rating on shares of QEP Resources in a report on Wednesday, July 20th. Finally, BMO Capital Markets upgraded shares of QEP Resources from a “market perform” rating to an “outperform” rating and increased their price target for the company from $18.00 to $24.00 in a report on Monday, July 18th. They noted that the move was a valuation call. 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 stock. The company currently has an average rating of “Buy” and a consensus price target of $22.40.
QEP Resources (NYSE:QEP) opened at 18.77 on Wednesday. QEP Resources has a 12-month low of $8.54 and a 12-month high of $20.96. The firm’s market capitalization is $4.50 billion. The firm has a 50-day moving average of $18.78 and a 200 day moving average of $17.62.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.12. The company 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%. QEP Resources’s quarterly revenue was down 41.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 EPS. On average, equities analysts predict that QEP Resources will post ($1.19) EPS for the current year.
Several large investors have recently added to or reduced their stakes in QEP. Spark Investment Management LLC purchased a new stake in QEP Resources during the first quarter valued at about $1,082,000. Royal Bank of Scotland Group PLC bought a new stake in QEP Resources during the first quarter valued at about $593,000. JPMorgan Chase & Co. boosted its stake in QEP Resources by 173.1% in the first quarter. JPMorgan Chase & Co. now owns 471,590 shares of the company’s stock valued at $6,655,000 after buying an additional 298,907 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in QEP Resources by 5.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,825,746 shares of the company’s stock valued at $82,201,000 after buying an additional 293,965 shares in the last quarter. Finally, BlackRock Fund Advisors boosted its stake in QEP Resources by 18.2% in the first quarter. BlackRock Fund Advisors now owns 6,982,556 shares of the company’s stock valued at $98,524,000 after buying an additional 1,077,086 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors.
About QEP Resources
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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