QEP Resources, Inc. (QEP) Downgraded by BidaskClub to Strong Sell
QEP Resources, Inc. (NYSE:QEP) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday, July 27th.
Several other equities research analysts have also recently weighed in on the stock. Deutsche Bank AG cut shares of QEP Resources from a “buy” rating to a “hold” rating and cut their price objective for the stock from $18.00 to $13.00 in a research report on Tuesday, July 18th. Stifel Nicolaus initiated coverage on shares of QEP Resources in a research report on Wednesday, April 12th. They set a “buy” rating and a $21.00 price objective for the company. Barclays PLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of QEP Resources in a research report on Friday, July 7th. KLR Group increased their target price on shares of QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Credit Suisse Group began coverage on shares of QEP Resources in a report on Thursday, June 1st. They issued a “neutral” rating and a $15.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $16.53.
Shares of QEP Resources (QEP) traded up 0.56% on Thursday, hitting $7.13. 3,158,518 shares of the stock traded hands. The firm’s 50 day moving average is $8.69 and its 200 day moving average is $11.54. QEP Resources has a 52 week low of $7.02 and a 52 week high of $21.12. The firm’s market capitalization is $1.72 billion.
QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, July 26th. The pipeline company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.08. QEP Resources had a negative net margin of 3.90% and a negative return on equity of 4.24%. The business had revenue of $383.70 million during the quarter, compared to analysts’ expectations of $413.27 million. During the same quarter in the prior year, the business posted ($0.23) earnings per share. QEP Resources’s revenue was up 15.0% compared to the same quarter last year. On average, analysts expect that QEP Resources will post ($0.62) EPS for the current fiscal year.
In other news, Director Julie Dill acquired 5,000 shares of the stock in a transaction dated Friday, July 28th. The stock was bought at an average price of $8.49 per share, with a total value of $42,450.00. Following the completion of the purchase, the director now directly owns 5,525 shares of the company’s stock, valued at approximately $46,907.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard J. Doleshek bought 12,500 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were purchased at an average cost of $7.91 per share, with a total value of $98,875.00. Following the transaction, the chief financial officer now directly owns 304,539 shares in the company, valued at approximately $2,408,903.49. The disclosure for this purchase can be found here. Corporate insiders own 1.36% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in QEP Resources by 12,055.6% in the first quarter. BlackRock Inc. now owns 19,952,610 shares of the pipeline company’s stock worth $253,598,000 after buying an additional 19,788,467 shares in the last quarter. Boston Partners increased its stake in QEP Resources by 47.8% in the first quarter. Boston Partners now owns 13,088,348 shares of the pipeline company’s stock worth $166,353,000 after buying an additional 4,231,442 shares in the last quarter. Wellington Management Group LLP increased its stake in QEP Resources by 10.0% in the first quarter. Wellington Management Group LLP now owns 22,993,414 shares of the pipeline company’s stock worth $292,247,000 after buying an additional 2,097,855 shares in the last quarter. Caymus Capital Partners L.P. increased its stake in QEP Resources by 45.4% in the first quarter. Caymus Capital Partners L.P. now owns 6,710,600 shares of the pipeline company’s stock worth $85,292,000 after buying an additional 2,096,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in QEP Resources by 77.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,548,695 shares of the pipeline company’s stock worth $45,941,000 after buying an additional 1,988,685 shares in the last quarter. 91.91% of the stock is owned by institutional investors and hedge funds.
QEP Resources Company Profile
QEP Resources, Inc is an independent crude oil and natural gas exploration and production company. The Company focuses on two regions of the United States: the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana). The Company conducts exploration and production activities in North America’s hydrocarbon resource plays.
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