Shares of QEP Resources Inc (NYSE:QEP) have received a consensus rating of “Hold” from the sixteen research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $10.28.
Several brokerages have weighed in on QEP. JPMorgan Chase & Co. downgraded QEP Resources from a “neutral” rating to an “underweight” rating and cut their price target for the company from $11.00 to $9.00 in a report on Friday, June 7th. Williams Capital reissued a “hold” rating and set a $8.00 price objective on shares of QEP Resources in a research note on Monday, July 22nd. Oppenheimer cut shares of QEP Resources from an “outperform” rating to a “market perform” rating and set a $7.25 price objective for the company. in a research note on Tuesday, July 9th. Raymond James cut shares of QEP Resources from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, August 8th. Finally, ValuEngine raised shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st.
In related news, Director David A. Trice acquired 10,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $3.80 per share, with a total value of $38,000.00. Following the purchase, the director now directly owns 60,000 shares of the company’s stock, valued at $228,000. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Timothy J. Cutt acquired 15,000 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $4.04 per share, with a total value of $60,600.00. Following the completion of the purchase, the chief executive officer now directly owns 228,777 shares in the company, valued at $924,259.08. The disclosure for this purchase can be found here. Insiders have bought a total of 30,000 shares of company stock valued at $119,450 over the last three months. Corporate insiders own 1.71% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Royal London Asset Management Ltd. purchased a new stake in QEP Resources during the 1st quarter worth $49,000. Quadrant Capital Group LLC boosted its position in QEP Resources by 2,702.9% during the 1st quarter. Quadrant Capital Group LLC now owns 6,755 shares of the pipeline company’s stock worth $50,000 after purchasing an additional 6,514 shares during the period. CAPROCK Group Inc. purchased a new stake in QEP Resources during the 2nd quarter worth $72,000. Bluefin Trading LLC purchased a new stake in QEP Resources during the 2nd quarter worth $92,000. Finally, Teza Capital Management LLC purchased a new stake in QEP Resources during the 2nd quarter worth $108,000. 99.22% of the stock is owned by hedge funds and other institutional investors.
Shares of QEP opened at $4.01 on Wednesday. The stock has a fifty day moving average of $5.60 and a two-hundred day moving average of $7.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $899.31 million, a PE ratio of -23.59 and a beta of 1.92. QEP Resources has a fifty-two week low of $3.39 and a fifty-two week high of $12.05.
QEP Resources (NYSE:QEP) last issued its quarterly earnings results on Wednesday, August 7th. The pipeline company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.07). The business had revenue of $296.20 million during the quarter, compared to analyst estimates of $293.93 million. QEP Resources had a negative net margin of 44.56% and a positive return on equity of 1.29%. The company’s revenue was down 44.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. As a group, equities research analysts forecast that QEP Resources will post 0.33 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be paid a dividend of $0.02 per share. The ex-dividend date is Monday, August 19th. This represents a $0.08 annualized dividend and a dividend yield of 2.00%.
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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