QEP Resources (NYSE:QEP) has been given a $13.00 price target by equities research analysts at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday, March 14th. The brokerage currently has a “buy” rating on the pipeline company’s stock. Piper Jaffray Companies’ price target suggests a potential upside of 37.86% from the company’s current price.
A number of other equities research analysts have also issued reports on the company. ValuEngine lowered QEP Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. BMO Capital Markets set a $11.00 price target on QEP Resources and gave the stock a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research raised QEP Resources from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research note on Tuesday, February 13th. B. Riley started coverage on QEP Resources in a research note on Monday, February 5th. They set a “neutral” rating and a $10.50 price target for the company. Finally, Mizuho raised QEP Resources from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.15.
Shares of QEP Resources (NYSE QEP) traded down $0.17 during trading on Wednesday, hitting $9.43. The stock had a trading volume of 448,300 shares, compared to its average volume of 6,899,749. The stock has a market cap of $2,137.39, a PE ratio of 11.52 and a beta of 1.70. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.57. QEP Resources has a 12-month low of $7.02 and a 12-month high of $13.15.
QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, February 28th. The pipeline company reported $1.13 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $1.20. The firm had revenue of $429.00 million during the quarter, compared to analysts’ expectations of $392.01 million. QEP Resources had a return on equity of 5.06% and a net margin of 16.59%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) EPS. equities analysts expect that QEP Resources will post -0.49 EPS for the current year.
QEP Resources announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 28th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the pipeline company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
In related news, Director David A. Trice purchased 10,000 shares of QEP Resources stock in a transaction dated Thursday, March 8th. The stock was purchased at an average cost of $9.00 per share, with a total value of $90,000.00. Following the transaction, the director now owns 50,000 shares in the company, valued at approximately $450,000. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.36% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank raised its position in shares of QEP Resources by 3.5% in the 4th quarter. Swiss National Bank now owns 415,742 shares of the pipeline company’s stock worth $3,979,000 after acquiring an additional 14,000 shares in the last quarter. Barings LLC bought a new position in shares of QEP Resources in the 4th quarter worth $449,000. Rhumbline Advisers raised its position in shares of QEP Resources by 8.9% in the 3rd quarter. Rhumbline Advisers now owns 460,608 shares of the pipeline company’s stock worth $3,947,000 after acquiring an additional 37,825 shares in the last quarter. PEAK6 Investments L.P. raised its position in shares of QEP Resources by 167.1% in the 3rd quarter. PEAK6 Investments L.P. now owns 49,468 shares of the pipeline company’s stock worth $424,000 after acquiring an additional 123,194 shares in the last quarter. Finally, Rothschild Asset Management Inc. raised its position in shares of QEP Resources by 48.3% in the 3rd quarter. Rothschild Asset Management Inc. now owns 656,217 shares of the pipeline company’s stock worth $5,624,000 after acquiring an additional 213,836 shares in the last quarter. 93.95% of the stock is owned by hedge funds and other institutional investors.
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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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