According to Zacks, “With a diversified asset base, exposure to emerging plays and quality acreage in multiple basins, this mid-cap onshore-focused E&P offers a compelling value. Since its split from Questar Corp. in 2010, QEP has established a strong track record of production growth, while maintaining a competitive cost structure. The split of its midstream segment is expected to further enhance shareholder worth. However, the natural gas-heavy production mix currently clouds QEP’s value and is the main factor behind our cautious stance. Moreover, the oil price slump has adversely affected the group’s earnings and cash flows. Consequently, until the external environment challenges subside, we see limited upside for QEP shares from current levels.”
QEP has been the topic of several other reports. KLR Group reaffirmed a buy rating and set a $27.00 target price (up from $25.00) on shares of QEP Resources in a report on Thursday, June 30th. Barclays PLC raised QEP Resources from an equal weight rating to an overweight rating and lifted their target price for the stock from $17.00 to $22.00 in a report on Wednesday, August 3rd. Drexel Hamilton began coverage on QEP Resources in a research note on Tuesday, June 7th. They issued a buy rating and a $33.00 price objective on the stock. Piper Jaffray Cos. raised QEP Resources from a neutral rating to an overweight rating in a research note on Tuesday, June 14th. Finally, Deutsche Bank AG boosted their price objective on QEP Resources from $22.00 to $23.00 and gave the company a buy rating in a research note on Tuesday, June 14th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. QEP Resources presently has a consensus rating of Buy and a consensus price target of $22.14.
QEP Resources (NYSE:QEP) opened at 18.71 on Tuesday. 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 $18.93 and its 200 day moving average price is $17.16. The firm’s market capitalization is $4.48 billion.
QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.35) by $0.12. The firm had revenue of $333.70 million for the quarter, compared to the consensus estimate of $362.17 million. QEP Resources had a negative return on equity of 4.04% and a negative net margin of 67.39%. The business’s quarterly revenue was down 41.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. On average, equities research analysts predict that QEP Resources will post ($1.19) earnings per share for the current year.
In other QEP Resources news, CEO Charles B. Stanley bought 16,763 shares of QEP Resources stock in a transaction dated Thursday, June 30th. The stock was bought at an average cost of $17.85 per share, with a total value of $299,219.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.36% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. ClariVest Asset Management LLC acquired a new position in QEP Resources during the second quarter valued at about $105,000. Quantbot Technologies LP acquired a new position in QEP Resources during the second quarter valued at about $119,000. Wright Investors Service Inc. acquired a new position in QEP Resources during the second quarter valued at about $183,000. MUFG Americas Holdings Corp raised its position in QEP Resources by 201.4% in the second quarter. MUFG Americas Holdings Corp now owns 11,255 shares of the company’s stock valued at $198,000 after buying an additional 7,521 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in QEP Resources by 461.3% in the second quarter. Meeder Asset Management Inc. now owns 12,428 shares of the company’s stock valued at $220,000 after buying an additional 10,214 shares in the last quarter. 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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