Zacks Investment Research downgraded shares of QEP Resources (NYSE:QEP) from a buy rating to a hold rating in a research report released on Monday.
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. However, the company, which derives its reserves/production from oil and natural gas, is exposed to volatile commodity prices. This is also reflected in the share price of the company which has declined about 58% over a year, underperforming the broader industry. Therefore, until oil and gas realizations improve further, we maintain a cautious stance on QEP shares.”
Several other equities research analysts also recently issued reports on the stock. B. Riley assumed coverage on shares of QEP Resources in a research report on Monday, February 5th. They set a neutral rating and a $10.50 price objective for the company. ValuEngine downgraded shares of QEP Resources from a sell rating to a strong sell rating in a research report on Friday, February 2nd. Deutsche Bank began coverage on shares of QEP Resources in a research report on Thursday, February 1st. They issued a hold rating and a $11.00 target price for the company. Mizuho set a $15.00 target price on shares of QEP Resources and gave the company a buy rating in a research report on Tuesday, January 16th. Finally, Piper Jaffray Companies reaffirmed a buy rating and issued a $14.00 target price on shares of QEP Resources in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $12.54.
Shares of QEP Resources (QEP) opened at $8.36 on Monday. 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 has a 12-month low of $7.02 and a 12-month high of $17.44. The stock has a market cap of $1,905.80, a price-to-earnings ratio of -139.31, a PEG ratio of 8.72 and a beta of 1.72.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of QEP Resources by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 20,078,248 shares of the pipeline company’s stock valued at $202,790,000 after acquiring an additional 223,181 shares during the period. State Street Corp grew its position in shares of QEP Resources by 16.1% in the 2nd quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock valued at $108,526,000 after acquiring an additional 1,489,661 shares during the period. Alliancebernstein L.P. grew its position in shares of QEP Resources by 4.9% in the 4th quarter. Alliancebernstein L.P. now owns 10,177,149 shares of the pipeline company’s stock valued at $97,395,000 after acquiring an additional 472,446 shares during the period. Dimensional Fund Advisors LP grew its position in shares of QEP Resources by 47.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock valued at $57,549,000 after acquiring an additional 2,166,476 shares during the period. Finally, Vaughan Nelson Investment Management L.P. grew its position in shares of QEP Resources by 21.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 4,032,265 shares of the pipeline company’s stock valued at $34,557,000 after acquiring an additional 716,265 shares during the period. 93.47% of the stock is owned by institutional investors.
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About QEP Resources
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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