Zacks Investment Research upgraded shares of QEP Resources (NYSE:QEP) from a hold rating to a buy rating in a research note issued to investors on Friday. Zacks Investment Research currently has $12.00 price objective on the pipeline company’s stock.
According to Zacks, “With a diversified asset base, exposure to emerging plays and increased focus on the quality acreage of the prolific Permian Basin, this mid-cap onshore-focused E&P offers a compelling value. QEP Resources has maintained its excellent track record of earnings surprise history, beating estimates in each of the last eleven quarters. Since its split from Questar Corp. in 2010, QEP has established a strong track record of production growth, while maintaining a competitive cost structure that has enabled the company to maintain its margins amid low oil prices. With focus on operating efficiency, a robust balance sheet and ample liquidity, we believe QEP is well positioned going forward and view it as an attractive investment.”
Other research analysts also recently issued research reports about the stock. BMO Capital Markets set a $11.00 target price on shares of QEP Resources and gave the company a buy rating in a research report on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a buy rating and issued a $12.00 target price on shares of QEP Resources in a research report on Sunday, October 22nd. Stifel Nicolaus decreased their target price on shares of QEP Resources from $26.00 to $23.00 and set a buy rating for the company in a research report on Tuesday, September 26th. KLR Group reaffirmed a buy rating and issued a $14.00 target price (down previously from $15.00) on shares of QEP Resources in a research report on Wednesday, September 27th. Finally, Mizuho raised shares of QEP Resources from a neutral rating to a buy rating in a research report on Tuesday, November 21st. Three analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. QEP Resources currently has an average rating of Hold and a consensus target price of $12.75.
QEP Resources (NYSE QEP) traded up $0.11 during trading on Friday, reaching $11.09. 4,868,500 shares of the company were exchanged, compared to its average volume of 5,797,933. The company has a market capitalization of $2,650.00, a P/E ratio of -184.83 and a beta of 1.73. QEP Resources has a 1-year low of $7.02 and a 1-year high of $18.92. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52.
QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.11. The business had revenue of $390.10 million during the quarter, compared to the consensus estimate of $393.87 million. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) earnings per share. analysts predict that QEP Resources will post -0.43 earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in QEP. Suntrust Banks Inc. lifted its stake in QEP Resources by 5.8% in the second quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock valued at $135,000 after acquiring an additional 748 shares during the last quarter. Southport Management L.L.C. acquired a new stake in QEP Resources in the third quarter valued at $171,000. Bbva Compass Bancshares Inc. acquired a new stake in QEP Resources in the third quarter valued at $178,000. Crossmark Global Holdings Inc. acquired a new stake in QEP Resources in the third quarter valued at $179,000. Finally, Stevens Capital Management LP acquired a new stake in QEP Resources in the third quarter valued at $193,000. Hedge funds and other institutional investors own 93.14% of the company’s stock.
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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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