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.
WARNING: This news story was first reported by WKRB News and is the property of of WKRB News. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.wkrb13.com/2018/11/10/qep-resources-qep-announces-earnings-results.html.
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.
Featured Article: Stop Order Uses For Individual Investors
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.