QEP Resources (NYSE:QEP) Upgraded at Stephens

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QEP Resources (NYSE:QEP) was upgraded by research analysts at Stephens from an “equal” rating to an “overweight” rating in a note issued to investors on Wednesday, October 30th, Marketbeat Ratings reports. The firm presently has a $7.00 target price on the pipeline company’s stock. Stephens’ target price indicates a potential upside of 88.68% from the stock’s current price.

Several other research analysts also recently issued reports on QEP. Oppenheimer downgraded shares of QEP Resources from an “outperform” rating to a “market perform” rating and set a $7.25 price objective on the stock. in a research report on Tuesday, July 9th. CIBC reaffirmed a “market perform” rating on shares of QEP Resources in a report on Tuesday, July 9th. Raymond James downgraded shares of QEP Resources from a “strong-buy” rating to a “market perform” rating in a report on Thursday, August 8th. Piper Jaffray Companies raised shares of QEP Resources from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $3.50 to $6.00 in a report on Monday, October 28th. Finally, BMO Capital Markets initiated coverage on shares of QEP Resources in a report on Tuesday, September 10th. They issued a “market perform” rating and a $5.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company’s stock. QEP Resources currently has an average rating of “Hold” and a consensus price target of $8.00.

Shares of QEP traded up $0.08 during midday trading on Wednesday, reaching $3.71. The stock had a trading volume of 6,087,436 shares, compared to its average volume of 6,011,726. The company’s fifty day simple moving average is $3.44 and its two-hundred day simple moving average is $5.26. QEP Resources has a 1-year low of $2.58 and a 1-year high of $9.31. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $842.97 million, a price-to-earnings ratio of -21.82 and a beta of 1.98.

QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, October 23rd. The pipeline company reported $0.05 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.05. QEP Resources had a negative net margin of 47.59% and a positive return on equity of 0.30%. The firm had revenue of $307.50 million for the quarter, compared to analyst estimates of $295.03 million. During the same period last year, the business earned $0.17 EPS. QEP Resources’s revenue for the quarter was down 45.2% compared to the same quarter last year. On average, sell-side analysts forecast that QEP Resources will post 0.25 earnings per share for the current year.

In other news, Director David A. Trice acquired 10,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $3.80 per share, with a total value of $38,000.00. Following the completion of the transaction, the director now directly owns 60,000 shares in the company, valued at approximately $228,000. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Michael J. Minarovic bought 60,000 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was bought at an average price of $4.00 per share, with a total value of $240,000.00. Following the completion of the acquisition, the director now owns 14,034 shares of the company’s stock, valued at approximately $56,136. The disclosure for this purchase can be found here. In the last three months, insiders bought 120,000 shares of company stock valued at $453,000. Company insiders own 1.71% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in QEP. FMR LLC grew its holdings in QEP Resources by 1.8% in the first quarter. FMR LLC now owns 2,252,517 shares of the pipeline company’s stock valued at $17,547,000 after purchasing an additional 40,383 shares during the period. Retirement Systems of Alabama grew its stake in QEP Resources by 0.6% during the second quarter. Retirement Systems of Alabama now owns 309,622 shares of the pipeline company’s stock worth $2,239,000 after buying an additional 1,930 shares during the period. Nisa Investment Advisors LLC purchased a new stake in QEP Resources during the second quarter worth approximately $262,000. Clear Street Markets LLC purchased a new stake in QEP Resources during the second quarter worth approximately $145,000. Finally, CWM Advisors LLC grew its stake in QEP Resources by 36.7% during the second quarter. CWM Advisors LLC now owns 29,951 shares of the pipeline company’s stock worth $217,000 after buying an additional 8,046 shares during the period. Hedge funds and other institutional investors own 99.39% of the company’s stock.

QEP Resources Company Profile

QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.

Read More: What Does a Sell-Side Analyst Rating Mean?

Analyst Recommendations for QEP Resources (NYSE:QEP)

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