QEP Resources Inc. (NYSE:QEP)‘s stock had its “hold” rating restated by Goldman Sachs Group Inc. in a research report issued on Thursday. They presently have a $21.00 price target on the stock. Goldman Sachs Group Inc.’s price objective indicates a potential upside of 14.63% from the stock’s previous close.
Several other brokerages also recently weighed in on QEP. Drexel Hamilton reiterated a “buy” rating and issued a $33.00 target price on shares of QEP Resources in a research note on Wednesday, June 22nd. Piper Jaffray Cos. upgraded QEP Resources from a “neutral” rating to an “overweight” rating in a research note on Tuesday, June 14th. Simmons upgraded QEP Resources from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $20.00 to $24.00 in a research note on Wednesday, June 15th. Mizuho assumed coverage on QEP Resources in a research note on Wednesday, October 5th. They issued a “buy” rating and a $24.00 target price on the stock. Finally, Deutsche Bank AG lifted their target price on QEP Resources from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, June 14th. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $22.38.
Shares of QEP Resources (NYSE:QEP) opened at 18.32 on Thursday. The stock’s market capitalization is $4.39 billion. QEP Resources has a 12 month low of $8.54 and a 12 month high of $20.96. The company’s 50 day moving average price is $18.72 and its 200 day moving average price is $17.66.
QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.12. QEP Resources had a negative return on equity of 4.04% and a negative net margin of 67.39%. The company had revenue of $333.70 million for the quarter, compared to the consensus estimate of $362.17 million. During the same period last year, the business posted $0.09 EPS. The company’s revenue was down 41.9% on a year-over-year basis. Equities analysts anticipate that QEP Resources will post ($1.19) earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in QEP. Canada Pension Plan Investment Board boosted its position in QEP Resources by 7.3% in the first quarter. Canada Pension Plan Investment Board now owns 290,600 shares of the company’s stock worth $4,100,000 after buying an additional 19,700 shares during the period. Spark Investment Management LLC bought a new position in QEP Resources during the first quarter worth $1,082,000. JPMorgan Chase & Co. boosted its position in QEP Resources by 173.1% in the first quarter. JPMorgan Chase & Co. now owns 471,590 shares of the company’s stock worth $6,655,000 after buying an additional 298,907 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position 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 worth $82,201,000 after buying an additional 293,965 shares during the period. Finally, BlackRock Fund Advisors boosted its position in QEP Resources by 18.2% in the first quarter. BlackRock Fund Advisors now owns 6,982,556 shares of the company’s stock worth $98,524,000 after buying an additional 1,077,086 shares during the period. 87.51% of the stock is owned by institutional investors.
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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