QEP Resources Inc (NYSE:QEP) Director David A. Trice bought 15,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were acquired at an average price of $3.50 per share, for a total transaction of $52,500.00. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $297,500. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
NYSE QEP traded down $0.19 during mid-day trading on Friday, hitting $3.79. The stock had a trading volume of 3,170,595 shares, compared to its average volume of 4,952,133. The firm’s 50 day moving average is $4.22 and its 200 day moving average is $6.59. QEP Resources Inc has a twelve month low of $3.34 and a twelve month high of $12.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $946.89 million, a price-to-earnings ratio of 26.53 and a beta of 1.97.
QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, August 7th. The pipeline company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.07). QEP Resources had a negative net margin of 44.56% and a positive return on equity of 1.29%. The firm had revenue of $296.20 million during the quarter, compared to analyst estimates of $293.93 million. During the same period in the prior year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was down 44.4% compared to the same quarter last year. As a group, equities research analysts expect that QEP Resources Inc will post 0.3 earnings per share for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC increased its stake in shares of QEP Resources by 4,106.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,602,946 shares of the pipeline company’s stock worth $11,590,000 after acquiring an additional 1,564,839 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of QEP Resources by 15.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 202,243 shares of the pipeline company’s stock worth $1,462,000 after acquiring an additional 27,024 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of QEP Resources in the 2nd quarter worth $606,000. Bluefin Trading LLC acquired a new stake in shares of QEP Resources in the 2nd quarter worth $92,000. Finally, Cubist Systematic Strategies LLC increased its stake in shares of QEP Resources by 17.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 376,458 shares of the pipeline company’s stock worth $2,722,000 after acquiring an additional 56,861 shares during the last quarter.
A number of brokerages have recently issued reports on QEP. ValuEngine upgraded QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Piper Jaffray Companies set a $5.00 target price on QEP Resources and gave the company a “hold” rating in a research report on Friday, August 16th. Oppenheimer downgraded QEP Resources from an “outperform” rating to a “market perform” rating and set a $7.25 price objective for the company. in a research note on Tuesday, July 9th. Tudor Pickering downgraded QEP Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Finally, Williams Capital reissued a “hold” rating and issued a $5.00 price objective on shares of QEP Resources in a research note on Thursday, August 22nd. Two analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company’s stock. QEP Resources currently has an average rating of “Hold” and a consensus target price of $9.30.
QEP Resources Company Profile
QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.
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