QEP Resources Inc (NYSE:QEP) was downgraded by investment analysts at Mizuho from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday.
Other analysts have also issued research reports about the stock. FBR & Co set a $24.00 target price on shares of QEP Resources and gave the stock a “buy” rating in a research report on Thursday, February 23rd. Deutsche Bank AG decreased their target price on shares of QEP Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, March 7th. Scotiabank upgraded shares of QEP Resources from an “outperform” rating to a “focus stock” rating and lifted their price target for the company from $31.00 to $33.00 in a report on Thursday, January 12th. Finally, Wells Fargo & Co upgraded shares of QEP Resources from a “market perform” rating to an “outperform” rating in a report on Friday, February 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $24.36.
QEP Resources (NYSE:QEP) opened at 13.04 on Tuesday. The company has a 50-day moving average price of $15.43 and a 200 day moving average price of $17.52. The stock’s market cap is $3.12 billion. QEP Resources has a 12-month low of $12.37 and a 12-month high of $21.12.
QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, February 22nd. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.07. QEP Resources had a negative net margin of 79.57% and a negative return on equity of 5.55%. The firm had revenue of $399.70 million for the quarter, compared to analyst estimates of $395.90 million. During the same quarter last year, the business earned ($0.01) earnings per share. QEP Resources’s revenue was down 14.6% compared to the same quarter last year. On average, equities research analysts predict that QEP Resources will post ($0.71) EPS for the current year.
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In other QEP Resources news, Director Phillips S. Baker, Jr. bought 7,000 shares of QEP Resources stock in a transaction that occurred on Friday, February 24th. The shares were acquired at an average price of $14.21 per share, for a total transaction of $99,470.00. Following the acquisition, the director now owns 21,897 shares of the company’s stock, valued at approximately $311,156.37. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.36% of the company’s stock.
Several institutional investors have recently bought and sold shares of QEP. Norges Bank acquired a new position in QEP Resources during the fourth quarter valued at $35,383,000. Thrivent Financial for Lutherans raised its position in QEP Resources by 8.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 41,060 shares of the company’s stock valued at $756,000 after buying an additional 3,340 shares during the last quarter. Barings LLC raised its position in QEP Resources by 6.9% in the fourth quarter. Barings LLC now owns 29,600 shares of the company’s stock valued at $545,000 after buying an additional 1,900 shares during the last quarter. Guggenheim Capital LLC raised its position in QEP Resources by 9.8% in the fourth quarter. Guggenheim Capital LLC now owns 214,665 shares of the company’s stock valued at $3,952,000 after buying an additional 19,152 shares during the last quarter. Finally, Ellington Management Group LLC acquired a new position in QEP Resources during the fourth quarter valued at $797,000. Institutional investors and hedge funds own 90.76% of the company’s stock.
QEP Resources Company Profile
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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