Zacks Investment Research upgraded shares of QEP Resources (NYSE:QEP) from a hold rating to a buy rating in a research report sent to investors on Friday, January 12th. They currently have $12.00 target price 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.”
Several other brokerages have also issued reports on QEP. Barclays lowered QEP Resources from an overweight rating to an equal weight rating and set a $9.00 target price on the stock. in a research note on Tuesday, November 7th. ValuEngine upgraded QEP Resources from a strong sell rating to a sell rating in a research note on Monday, October 2nd. BMO Capital Markets set a $11.00 price target on QEP Resources and gave the company a buy rating in a research report on Tuesday, October 10th. Piper Jaffray Companies reiterated a buy rating and issued a $12.00 price target on shares of QEP Resources in a research report on Sunday, October 22nd. Finally, SunTrust Banks reiterated a hold rating and issued a $9.00 price target on shares of QEP Resources in a research report on Wednesday, November 1st. 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 has an average rating of Hold and an average price target of $12.88.
Shares of QEP Resources (QEP) traded down $0.38 on Friday, hitting $8.53. The company’s stock had a trading volume of 9,552,828 shares, compared to its average volume of 6,173,589. The company has a market capitalization of $2,150.00, a price-to-earnings ratio of -142.17, a PEG ratio of 99.00 and a beta of 1.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.54 and a current ratio of 1.55. QEP Resources has a 52-week low of $7.02 and a 52-week high of $17.60.
A number of institutional investors have recently bought and sold shares of QEP. Kornitzer Capital Management Inc. KS purchased a new position in QEP Resources during the fourth quarter worth about $100,000. Savant Capital LLC purchased a new position in QEP Resources during the fourth quarter worth about $108,000. Suntrust Banks Inc. grew its position in QEP Resources by 5.8% during the second quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after buying an additional 748 shares in the last quarter. Southport Management L.L.C. purchased a new position in QEP Resources during the third quarter worth about $171,000. Finally, Bbva Compass Bancshares Inc. purchased a new position in QEP Resources during the third quarter worth about $178,000. Institutional investors and hedge funds own 93.41% 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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