QEP Resources (QEP) Trading Down 5.8%

QEP Resources Inc (NYSE:QEP) shares fell 5.8% during mid-day trading on Thursday . The company traded as low as $7.44 and last traded at $7.62. 5,850,565 shares were traded during mid-day trading, an increase of 12% from the average session volume of 5,210,530 shares. The stock had previously closed at $8.09.

A number of research firms recently issued reports on QEP. Stephens began coverage on QEP Resources in a report on Thursday. They issued an “equal weight” rating and a $12.00 target price for the company. Zacks Investment Research upgraded QEP Resources from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Friday, November 30th. Cowen began coverage on QEP Resources in a report on Thursday, November 29th. They issued a “market perform” rating for the company. Piper Jaffray Companies lifted their target price on QEP Resources from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, November 21st. Finally, Credit Suisse Group upgraded QEP Resources from an “underperform” rating to a “neutral” rating and set a $11.00 target price for the company in a report on Tuesday, November 20th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.52.

The firm has a market capitalization of $1.92 billion, a PE ratio of 9.90, a PEG ratio of 9.91 and a beta of 1.34. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.35 and a quick ratio of 0.35.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in QEP. CastleArk Alternatives LLC purchased a new stake in QEP Resources during the 2nd quarter worth about $113,000. Tower Research Capital LLC TRC lifted its holdings in QEP Resources by 298.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,550 shares of the pipeline company’s stock worth $119,000 after buying an additional 7,899 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of QEP Resources by 80.4% during the second quarter. Cubist Systematic Strategies LLC now owns 13,142 shares of the pipeline company’s stock worth $161,000 after purchasing an additional 5,858 shares in the last quarter. Iberiabank Corp acquired a new stake in shares of QEP Resources during the third quarter worth about $182,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of QEP Resources during the second quarter worth about $225,000.

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About QEP Resources (NYSE:QEP)

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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