Qep Resources (NYSE:QEP) was upgraded by research analysts at TheStreet from a “d” rating to a “c-” rating in a note issued to investors on Tuesday, March 13th.
Other equities research analysts have also issued research reports about the company. Williams Capital initiated coverage on Qep Resources in a report on Friday, December 8th. They issued a “buy” rating and a $13.00 price objective for the company. Mizuho raised Qep Resources from a “neutral” rating to a “buy” rating in a report on Tuesday, November 21st. BMO Capital Markets set a $11.00 price objective on Qep Resources and gave the stock a “buy” rating in a report on Tuesday, November 14th. Zacks Investment Research raised Qep Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, December 26th. Finally, Piper Jaffray reissued a “buy” rating and issued a $14.00 price objective on shares of Qep Resources in a report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $13.10.
Shares of NYSE QEP traded down $0.29 during mid-day trading on Tuesday, reaching $9.79. 5,219,841 shares of the company’s stock were exchanged, compared to its average volume of 6,732,267. The stock has a market capitalization of $2,373.54, a price-to-earnings ratio of 12.71 and a beta of 1.53. Qep Resources has a 52 week low of $7.02 and a 52 week high of $12.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.29 and a quick ratio of 0.28.
Qep Resources (NYSE:QEP) last released 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 company had revenue of $429.00 million for 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 business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) EPS. research analysts expect that Qep Resources will post -0.65 EPS for the current fiscal year.
Qep Resources declared that its board has authorized a share buyback plan on Wednesday, February 28th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the pipeline company to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In related news, Director David A. Trice bought 10,000 shares of Qep Resources stock in a transaction on Thursday, March 8th. The stock was acquired at an average price of $9.00 per share, with a total value of $90,000.00. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at $450,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.36% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of QEP. Kornitzer Capital Management Inc. KS bought a new stake in shares of Qep Resources during the 4th quarter valued at about $100,000. Savant Capital LLC bought a new stake in shares of Qep Resources during the 4th quarter valued at about $108,000. Macquarie Group Ltd. boosted its position in shares of Qep Resources by 17,375.0% during the 4th quarter. Macquarie Group Ltd. now owns 13,980 shares of the pipeline company’s stock valued at $9,481,000 after acquiring an additional 13,900 shares during the last quarter. Tocqueville Asset Management L.P. bought a new stake in shares of Qep Resources during the 4th quarter valued at about $141,000. Finally, MANA Advisors LLC bought a new stake in shares of Qep Resources during the 4th quarter valued at about $163,000. 93.95% of the stock is owned by institutional investors and hedge funds.
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About Qep Resources
QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.
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