Short Interest in QEP Resources Inc (NYSE:QEP) Rises By 16.0%

QEP Resources Inc (NYSE:QEP) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 14,779,500 shares, an increase of 16.0% from the May 30th total of 12,737,700 shares. Based on an average trading volume of 4,520,000 shares, the short-interest ratio is presently 3.3 days. Currently, 6.3% of the company’s shares are short sold.

QEP remained flat at $$7.06 on Friday. 2,934,443 shares of the company traded hands, compared to its average volume of 5,717,955. The stock has a market capitalization of $1.68 billion, a PE ratio of -41.53 and a beta of 1.93. QEP Resources has a 12-month low of $5.00 and a 12-month high of $12.98. The firm’s 50-day moving average is $6.72. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.59 and a current ratio of 0.59.

QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.17. The firm had revenue of $280.60 million for the quarter, compared to analyst estimates of $289.23 million. QEP Resources had a negative net margin of 60.23% and a positive return on equity of 1.91%. QEP Resources’s revenue was down 34.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) EPS. On average, equities research analysts expect that QEP Resources will post 0.49 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. United Services Automobile Association increased its stake in QEP Resources by 4.0% during the fourth quarter. United Services Automobile Association now owns 45,063 shares of the pipeline company’s stock worth $254,000 after purchasing an additional 1,733 shares during the period. TT International purchased a new stake in QEP Resources during the first quarter worth about $2,338,000. Shell Asset Management Co. purchased a new stake in QEP Resources during the first quarter worth about $212,000. California Public Employees Retirement System increased its stake in QEP Resources by 14.8% during the fourth quarter. California Public Employees Retirement System now owns 688,245 shares of the pipeline company’s stock worth $3,875,000 after purchasing an additional 88,616 shares during the period. Finally, Two Sigma Advisers LP purchased a new stake in QEP Resources during the fourth quarter worth about $1,493,000. Hedge funds and other institutional investors own 99.22% of the company’s stock.

Several research firms have recently commented on QEP. Tudor Pickering lowered MEG Energy from a “buy” rating to a “hold” rating in a report on Friday, June 7th. Wells Fargo & Co reiterated a “buy” rating on shares of SM Energy in a report on Friday, April 12th. Oppenheimer lifted their price target on Valeritas from $1.25 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday. SunTrust Banks set a $75.00 price target on Cimarex Energy and gave the stock a “hold” rating in a report on Tuesday, April 23rd. Finally, CIBC reduced their price target on Crew Energy from C$1.50 to C$1.00 in a report on Tuesday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $11.09.

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.

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