QEP Resources, Inc. (NYSE:QEP) released its quarterly earnings results on Tuesday. The pipeline company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.11, Bloomberg Earnings reports. The business had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $393.87 million. QEP Resources had a negative return on equity of 4.24% and a negative net margin of 3.90%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS.
Shares of QEP Resources (QEP) traded up 0.52% on Wednesday, hitting $7.66. The company’s stock had a trading volume of 6,350,310 shares. QEP Resources has a 52 week low of $7.02 and a 52 week high of $21.12. The company’s market cap is $1.84 billion. The stock’s 50 day moving average is $8.30 and its 200-day moving average is $9.28.
In related news, CFO Richard J. Doleshek purchased 12,500 shares of the stock in a transaction dated Friday, July 28th. The shares were acquired at an average cost of $7.91 per share, for a total transaction of $98,875.00. Following the acquisition, the chief financial officer now directly owns 304,539 shares in the company, valued at approximately $2,408,903.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David A. Trice purchased 25,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $7.20 per share, for a total transaction of $180,000.00. Following the completion of the acquisition, the director now owns 40,000 shares in the company, valued at $288,000. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 42,500 shares of company stock worth $321,325. 1.36% of the stock is currently owned by corporate insiders.
QEP has been the topic of a number of research reports. Cowen and Company set a $12.00 price target on QEP Resources and gave the stock a “buy” rating in a report on Friday, August 25th. Deutsche Bank AG cut QEP Resources from a “buy” rating to a “hold” rating and lowered their price target for the stock from $18.00 to $13.00 in a report on Tuesday, July 18th. Barclays PLC restated a “buy” rating and issued a $10.00 price target on shares of QEP Resources in a report on Friday, July 7th. ValuEngine cut QEP Resources from a “sell” rating to a “strong sell” rating in a report on Friday, September 8th. Finally, Piper Jaffray Companies lowered their price target on QEP Resources from $20.00 to $12.00 and set an “overweight” rating on the stock in a report on Monday, September 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $14.93.
QEP Resources Company Profile
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.