JPMorgan Chase & Co. Reiterates $8.00 Price Target for QEP Resources (QEP)

QEP Resources (NYSE:QEP) has been given a $8.00 price objective by analysts at JPMorgan Chase & Co. in a report released on Friday. The firm currently has a “hold” rating on the pipeline company’s stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 2.96% from the stock’s previous close.

QEP has been the topic of a number of other reports. KLR Group restated a “buy” rating and set a $14.00 price target on shares of QEP Resources in a research report on Monday, August 20th. Tudor Pickering upgraded shares of QEP Resources from a “hold” rating to a “buy” rating in a research report on Wednesday, November 7th. Zacks Investment Research upgraded shares of QEP Resources from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Friday, November 30th. Oppenheimer assumed coverage on shares of QEP Resources in a research report on Wednesday, October 3rd. They set an “outperform” rating and a $15.00 price target on the stock. Finally, Williams Capital set a $15.00 price target on shares of QEP Resources and gave the stock a “buy” rating in a research report on Wednesday, November 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $13.32.

Shares of QEP stock traded up $0.15 during midday trading on Friday, reaching $7.77. 1,782,774 shares of the company were exchanged, compared to its average volume of 5,394,306. QEP Resources has a 12 month low of $7.04 and a 12 month high of $13.77. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 9.91 and a beta of 1.34. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.73.

QEP Resources (NYSE:QEP) last released its quarterly earnings results on Wednesday, November 7th. The pipeline company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.18. QEP Resources had a negative net margin of 11.89% and a positive return on equity of 7.86%. The company had revenue of $560.80 million for the quarter, compared to the consensus estimate of $497.45 million. During the same period in the previous year, the firm earned ($0.10) EPS. QEP Resources’s revenue was up 43.8% on a year-over-year basis. On average, equities research analysts predict that QEP Resources will post 0.07 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in QEP. Principal Financial Group Inc. grew its stake in shares of QEP Resources by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,051,835 shares of the pipeline company’s stock worth $10,297,000 after purchasing an additional 24,592 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of QEP Resources by 139.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 85,470 shares of the pipeline company’s stock worth $1,048,000 after purchasing an additional 49,764 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of QEP Resources by 8.9% in the 2nd quarter. New York State Teachers Retirement System now owns 349,565 shares of the pipeline company’s stock worth $4,286,000 after purchasing an additional 28,500 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of QEP Resources by 26.8% in the second quarter. Wells Fargo & Company MN now owns 2,794,036 shares of the pipeline company’s stock worth $34,254,000 after acquiring an additional 590,229 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of QEP Resources by 31.5% in the second quarter. First Trust Advisors LP now owns 2,057,371 shares of the pipeline company’s stock worth $25,223,000 after acquiring an additional 492,419 shares in the last quarter.

QEP Resources Company Profile

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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Analyst Recommendations for QEP Resources (NYSE:QEP)

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