Qep Resources (NYSE:QEP) is set to announce its earnings results after the market closes on Tuesday, April 24th. Analysts expect the company to announce earnings of ($0.04) per share for the quarter.
Qep Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, February 28th. The pipeline company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $1.20. Qep Resources had a return on equity of 5.06% and a net margin of 16.59%. The firm had revenue of $429.00 million for the quarter, compared to analysts’ expectations of $392.01 million. During the same period in the previous year, the firm posted ($0.15) EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, analysts expect Qep Resources to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.
Shares of QEP opened at $11.37 on Tuesday. 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 52 week low of $7.02 and a 52 week high of $12.90. The company has a market capitalization of $2,715.72, a PE ratio of 14.77 and a beta of 1.53.
Qep Resources announced that its Board of Directors has approved a share repurchase program on Wednesday, February 28th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the pipeline company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, Director David A. Trice acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The stock was bought at an average cost of $9.00 per share, for a total transaction of $90,000.00. Following the acquisition, the director now directly owns 50,000 shares in the company, valued at $450,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by insiders.
A number of analysts have recently commented on QEP shares. Zacks Investment Research raised Qep Resources from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday, December 26th. Piper Jaffray reissued a “buy” rating and issued a $14.00 price target on shares of Qep Resources in a research report on Tuesday, January 9th. Mizuho set a $15.00 price target on Qep Resources and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Deutsche Bank started coverage on Qep Resources in a research report on Thursday, February 1st. They issued a “hold” rating and a $11.00 price target on the stock. Finally, ValuEngine cut Qep Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. Qep Resources has an average rating of “Hold” and a consensus price target of $12.86.
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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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