QEP Resources (QEP) Lowered to Strong Sell at ValuEngine

QEP Resources (NYSE:QEP) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.

QEP has been the topic of a number of other research reports. Williams Capital set a $15.00 price target on shares of QEP Resources and gave the stock a “buy” rating in a research note on Monday, August 20th. Oppenheimer initiated coverage on shares of QEP Resources in a research note on Wednesday, October 3rd. They issued an “outperform” rating and a $15.00 price target on the stock. Wells Fargo & Co cut shares of QEP Resources from an “outperform” rating to a “market perform” rating and set a $14.00 price target on the stock. in a research note on Tuesday, October 23rd. KLR Group reiterated a “buy” rating and issued a $14.00 price target on shares of QEP Resources in a research note on Monday, August 20th. Finally, Tudor Pickering upgraded shares of QEP Resources from a “hold” rating to a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $13.53.

QEP Resources stock traded down $0.63 during mid-day trading on Thursday, reaching $9.17. The stock had a trading volume of 12,559,800 shares, compared to its average volume of 5,176,455. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 11.91 and a beta of 1.35. QEP Resources has a one year low of $7.04 and a one year high of $13.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.34 and a quick ratio of 0.34.

QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, November 7th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.18. The company had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $497.45 million. QEP Resources had a negative net margin of 13.63% and a positive return on equity of 5.96%. QEP Resources’s revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS. On average, equities analysts expect that QEP Resources will post -0.2 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vident Investment Advisory LLC lifted its stake in QEP Resources by 1.5% during the 2nd quarter. Vident Investment Advisory LLC now owns 344,774 shares of the pipeline company’s stock valued at $4,227,000 after acquiring an additional 5,169 shares during the period. People s United Financial Inc. lifted its stake in QEP Resources by 19.8% during the 2nd quarter. People s United Financial Inc. now owns 32,268 shares of the pipeline company’s stock valued at $395,000 after acquiring an additional 5,322 shares during the period. Federated Investors Inc. PA lifted its stake in QEP Resources by 9.4% during the 2nd quarter. Federated Investors Inc. PA now owns 64,125 shares of the pipeline company’s stock valued at $786,000 after acquiring an additional 5,510 shares during the period. Cubist Systematic Strategies LLC lifted its stake in QEP Resources by 80.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,142 shares of the pipeline company’s stock valued at $161,000 after acquiring an additional 5,858 shares during the period. Finally, Eagle Boston Investment Management Inc. lifted its stake in QEP Resources by 5.5% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 129,351 shares of the pipeline company’s stock valued at $1,464,000 after acquiring an additional 6,744 shares during the period. Institutional investors and hedge funds own 98.99% of the company’s stock.

About QEP Resources

QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.

Read More: What is Cost of Debt?

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for QEP Resources (NYSE:QEP)

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.

Leave a Reply