Piper Jaffray Companies set a $13.00 price target on QEP Resources (NYSE:QEP) in a research report released on Wednesday. The brokerage currently has a buy rating on the pipeline company’s stock.
QEP has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price objective on QEP Resources from $11.00 to $10.00 and set a neutral rating for the company in a research report on Monday, March 5th. Mizuho set a $15.00 target price on QEP Resources and gave the company a buy rating in a research note on Tuesday, January 16th. Zacks Investment Research upgraded QEP Resources from a hold rating to a buy rating and set a $12.00 target price on the stock in a research note on Friday, January 12th. BMO Capital Markets set a $11.00 target price on QEP Resources and gave the company a buy rating in a research note on Tuesday, November 14th. Finally, ValuEngine downgraded QEP Resources from a sell rating to a strong sell rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. QEP Resources currently has a consensus rating of Hold and a consensus price target of $12.81.
QEP Resources (NYSE:QEP) opened at $9.40 on Wednesday. QEP Resources has a 52-week low of $7.02 and a 52-week high of $13.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.28 and a current ratio of 0.29. The firm has a market capitalization of $2,272.34, a P/E ratio of 8.39 and a beta of 1.70.
QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, February 28th. The pipeline company reported $1.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $1.20. QEP Resources had a return on equity of 5.06% and a net margin of 16.59%. The company had revenue of $429.00 million during the quarter, compared to analyst estimates of $392.01 million. During the same quarter last year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. equities analysts forecast that QEP Resources will post -0.42 earnings per share for the current year.
QEP Resources declared that its board has initiated a share buyback program on Wednesday, February 28th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the pipeline company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director David A. Trice purchased 10,000 shares of the company’s stock in a transaction dated Thursday, March 8th. The shares were purchased at an average cost of $9.00 per share, for a total transaction of $90,000.00. Following the purchase, the director now directly owns 50,000 shares in the company, valued at approximately $450,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.36% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. ING Groep NV boosted its stake in shares of QEP Resources by 23.4% in the 4th quarter. ING Groep NV now owns 36,355 shares of the pipeline company’s stock worth $348,000 after buying an additional 6,900 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of QEP Resources by 0.3% in the 4th quarter. Mackenzie Financial Corp now owns 2,702,500 shares of the pipeline company’s stock worth $25,863,000 after buying an additional 7,500 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of QEP Resources by 0.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,028,062 shares of the pipeline company’s stock worth $8,810,000 after buying an additional 9,258 shares during the last quarter. US Bancorp DE boosted its stake in shares of QEP Resources by 73.5% in the 4th quarter. US Bancorp DE now owns 24,140 shares of the pipeline company’s stock worth $230,000 after buying an additional 10,223 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS purchased a new position in shares of QEP Resources in the 4th quarter worth $100,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.
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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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