QEP Resources (QEP) Announces Earnings Results

QEP Resources (NYSE:QEP) issued its quarterly earnings results on Wednesday. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.18, Briefing.com reports. QEP Resources had a positive return on equity of 5.96% and a negative net margin of 13.63%. The business had revenue of $560.80 million during the quarter, compared to analyst estimates of $497.45 million. During the same quarter in the prior year, the business posted ($0.10) EPS. QEP Resources’s revenue for the quarter was up 43.8% compared to the same quarter last year.

Shares of QEP Resources stock traded down $0.09 during trading on Friday, reaching $9.08. 7,861,687 shares of the stock traded hands, compared to its average volume of 5,188,771. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 11.79 and a beta of 1.35. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.79. QEP Resources has a 52-week low of $7.04 and a 52-week high of $13.77.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of QEP Resources by 1.0% in the 3rd quarter. BlackRock Inc. now owns 20,686,789 shares of the pipeline company’s stock valued at $234,173,000 after acquiring an additional 198,575 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of QEP Resources by 12.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,243,981 shares of the pipeline company’s stock valued at $186,892,000 after acquiring an additional 1,677,380 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of QEP Resources by 15.5% in the 3rd quarter. Alliancebernstein L.P. now owns 11,649,775 shares of the pipeline company’s stock valued at $131,875,000 after acquiring an additional 1,563,066 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of QEP Resources by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,017,871 shares of the pipeline company’s stock valued at $45,482,000 after acquiring an additional 155,272 shares during the last quarter. Finally, Oslo Asset Management AS lifted its holdings in shares of QEP Resources by 9.6% in the 3rd quarter. Oslo Asset Management AS now owns 3,526,538 shares of the pipeline company’s stock valued at $39,920,000 after acquiring an additional 309,000 shares during the last quarter. Hedge funds and other institutional investors own 98.99% of the company’s stock.

A number of equities research analysts have issued reports on the company. Johnson Rice lowered QEP Resources from a “buy” rating to an “accumulate” rating in a research note on Thursday, July 26th. Piper Jaffray Companies set a $15.00 price target on QEP Resources and gave the stock a “hold” rating in a research note on Monday, July 30th. Tudor Pickering lowered QEP Resources from a “buy” rating to a “hold” rating in a research note on Thursday, July 26th. TheStreet lowered QEP Resources from a “c-” rating to a “d+” rating in a research note on Thursday, August 9th. Finally, Oppenheimer reiterated a “buy” rating on shares of QEP Resources in a research note on Friday, October 19th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $13.53.

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QEP Resources Company Profile

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.

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Earnings History for QEP Resources (NYSE:QEP)

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