QEP Resources, Inc. (QEP) Expected to Post Quarterly Sales of $375.14 Million
Equities analysts expect QEP Resources, Inc. (NYSE:QEP) to report $375.14 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for QEP Resources’ earnings. The lowest sales estimate is $351.15 million and the highest is $404.00 million. QEP Resources reported sales of $399.70 million during the same quarter last year, which would suggest a negative year over year growth rate of 6.1%. The company is expected to report its next earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that QEP Resources will report full-year sales of $375.14 million for the current year, with estimates ranging from $1.54 billion to $1.69 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.69 billion per share, with estimates ranging from $1.60 billion to $1.79 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover QEP Resources.
QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, October 25th. The pipeline company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.11. QEP Resources had a negative net margin of 0.90% and a negative return on equity of 3.48%. The business had revenue of $390.10 million for the quarter, compared to analyst estimates of $393.87 million. During the same period last year, the company posted ($0.21) EPS. The business’s revenue was up 2.0% on a year-over-year basis.
Several analysts have issued reports on QEP shares. Deutsche Bank AG downgraded shares of QEP Resources from a “buy” rating to a “hold” rating and reduced their price target for the company from $18.00 to $13.00 in a report on Tuesday, July 18th. ValuEngine raised shares of QEP Resources from a “strong sell” rating to a “sell” rating in a report on Monday, October 2nd. BMO Capital Markets set a $11.00 price target on shares of QEP Resources and gave the company a “buy” rating in a report on Tuesday, October 10th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $12.00 price target on shares of QEP Resources in a report on Sunday, October 22nd. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of QEP Resources in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.79.
In other news, Director David A. Trice acquired 25,000 shares of QEP Resources stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $7.20 per share, with a total value of $180,000.00. Following the completion of the purchase, the director now owns 40,000 shares of the company’s stock, valued at approximately $288,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.36% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in QEP Resources by 1.0% during the second quarter. BlackRock Inc. now owns 20,160,805 shares of the pipeline company’s stock worth $203,623,000 after purchasing an additional 208,195 shares during the period. Vanguard Group Inc. raised its stake in QEP Resources by 1.1% during the second quarter. Vanguard Group Inc. now owns 20,078,248 shares of the pipeline company’s stock worth $202,790,000 after purchasing an additional 223,181 shares during the period. State Street Corp raised its stake in QEP Resources by 16.1% during the second quarter. State Street Corp now owns 10,745,243 shares of the pipeline company’s stock worth $108,526,000 after purchasing an additional 1,489,661 shares during the period. Alliancebernstein L.P. raised its stake in QEP Resources by 9.8% during the second quarter. Alliancebernstein L.P. now owns 8,393,250 shares of the pipeline company’s stock worth $84,772,000 after purchasing an additional 746,931 shares during the period. Finally, Caymus Capital Partners L.P. raised its stake in QEP Resources by 18.2% during the second quarter. Caymus Capital Partners L.P. now owns 7,931,300 shares of the pipeline company’s stock worth $80,106,000 after purchasing an additional 1,220,700 shares during the period. 93.75% of the stock is currently owned by institutional investors.
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QEP Resources (NYSE QEP) opened at 8.70 on Tuesday. The firm has a 50-day moving average of $8.38 and a 200-day moving average of $9.18. QEP Resources has a 1-year low of $7.02 and a 1-year high of $21.12. The stock’s market capitalization is $2.09 billion.
About QEP Resources
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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