Oppenheimer downgraded shares of QEP Resources (NYSE:QEP) from an outperform rating to a market perform rating in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. Oppenheimer currently has $7.25 target price on the pipeline company’s stock.
QEP has been the subject of several other research reports. SunTrust Banks set a $75.00 target price on Cimarex Energy and gave the stock a hold rating in a research report on Tuesday, April 23rd. Zacks Investment Research cut Horiba from a hold rating to a sell rating in a research report on Wednesday, May 22nd. Wells Fargo & Co reiterated a buy rating on shares of SM Energy in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their target price on Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a neutral rating in a research report on Friday, June 7th. Finally, Tudor Pickering cut MEG Energy from a buy rating to a hold rating in a research report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. QEP Resources presently has an average rating of Hold and a consensus target price of $11.09.
NYSE:QEP opened at $7.06 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.59 and a quick ratio of 0.59. QEP Resources has a 12-month low of $5.00 and a 12-month high of $13.02. The stock’s 50-day simple moving average is $6.73. The stock has a market capitalization of $1.71 billion, a PE ratio of -41.53 and a beta of 1.93.
QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.17. QEP Resources had a positive return on equity of 1.91% and a negative net margin of 60.23%. The firm had revenue of $280.60 million during the quarter, compared to analysts’ expectations of $289.23 million. During the same quarter last year, the business posted ($0.20) earnings per share. The firm’s revenue was down 34.6% on a year-over-year basis. Research analysts predict that QEP Resources will post 0.52 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. United Services Automobile Association grew its holdings in QEP Resources by 4.0% during the 4th quarter. United Services Automobile Association now owns 45,063 shares of the pipeline company’s stock valued at $254,000 after buying an additional 1,733 shares in the last quarter. TT International purchased a new position in QEP Resources during the 1st quarter valued at approximately $2,338,000. Shell Asset Management Co. purchased a new position in QEP Resources during the 1st quarter valued at approximately $212,000. California Public Employees Retirement System grew its holdings in QEP Resources by 14.8% during the 4th quarter. California Public Employees Retirement System now owns 688,245 shares of the pipeline company’s stock valued at $3,875,000 after buying an additional 88,616 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new position in QEP Resources during the 4th quarter valued at approximately $1,493,000. Institutional investors and hedge funds own 99.22% of the company’s stock.
About QEP Resources
QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.
Recommended Story: What does a bar chart display?
Receive News & Ratings for QEP Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QEP Resources and related companies with MarketBeat.com's FREE daily email newsletter.