Qep Resources (NYSE:QEP)’s share price reached a new 52-week high and low on Monday . The stock traded as low as $13.61 and last traded at $13.58, with a volume of 94569 shares trading hands. The stock had previously closed at $13.37.
Several equities analysts have recently weighed in on QEP shares. Deutsche Bank started coverage on Qep Resources in a report on Thursday, February 1st. They set a “hold” rating and a $11.00 price objective on the stock. ValuEngine cut Qep Resources from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. B. Riley started coverage on Qep Resources in a report on Monday, February 5th. They set a “neutral” rating and a $10.50 price objective on the stock. Zacks Investment Research cut Qep Resources from a “buy” rating to a “hold” rating in a report on Tuesday, February 6th. Finally, Williams Capital set a $18.00 price objective on Qep Resources and gave the company a “buy” rating in a report on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.48.
The stock has a market cap of $3.13 billion, a PE ratio of 17.58 and a beta of 1.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.24 and a quick ratio of 0.24.
Qep Resources (NYSE:QEP) last announced its earnings results on Wednesday, April 25th. The pipeline company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.01). Qep Resources had a net margin of 8.51% and a return on equity of 4.66%. The firm had revenue of $428.90 million during the quarter, compared to analyst estimates of $369.94 million. During the same period in the prior year, the business posted ($0.14) EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. equities research analysts anticipate that Qep Resources will post -0.56 earnings per share for the current year.
Qep Resources declared that its board has authorized a stock buyback program on Wednesday, February 28th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the pipeline company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, Director David A. Trice purchased 10,000 shares of the stock in a transaction on Thursday, March 8th. The shares were purchased at an average price of $9.00 per share, with a total value of $90,000.00. Following the transaction, 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 is available at this hyperlink. 1.60% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Swiss National Bank increased its position in shares of Qep Resources by 3.5% during the 4th quarter. Swiss National Bank now owns 415,742 shares of the pipeline company’s stock worth $3,979,000 after purchasing an additional 14,000 shares during the last quarter. Barings LLC acquired a new position in shares of Qep Resources during the 4th quarter worth approximately $449,000. Boston Partners increased its position in shares of Qep Resources by 32.2% during the 4th quarter. Boston Partners now owns 648,810 shares of the pipeline company’s stock worth $6,209,000 after purchasing an additional 158,068 shares during the last quarter. Systematic Financial Management LP acquired a new position in shares of Qep Resources during the 4th quarter worth approximately $1,522,000. Finally, TIAA CREF Investment Management LLC increased its position in shares of Qep Resources by 8.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 1,021,061 shares of the pipeline company’s stock worth $9,772,000 after purchasing an additional 82,993 shares during the last quarter. 93.97% of the stock is currently owned by hedge funds and other institutional investors.
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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