Several other research firms have also issued reports on QEP. B. Riley started coverage on Qep Resources in a research report on Monday, February 5th. They issued a neutral rating and a $10.50 price target for the company. Deutsche Bank started coverage on Qep Resources in a research report on Thursday, February 1st. They issued a hold rating and a $11.00 price target for the company. Williams Capital set a $18.00 price target on Qep Resources and gave the stock a buy rating in a research report on Thursday, March 1st. Zacks Investment Research raised Qep Resources from a hold rating to a buy rating and set a $8.75 price target for the company in a research report on Tuesday, February 13th. Finally, ValuEngine upgraded Qep Resources from a sell rating to a hold rating in a report on Thursday, March 1st. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. Qep Resources currently has a consensus rating of Hold and a consensus target price of $12.48.
Qep Resources (NYSE:QEP) had its price objective increased by JPMorgan Chase from $10.00 to $11.00 in a research report report published on Tuesday, April 24th. JPMorgan Chase currently has a neutral rating on the pipeline company’s stock.
Shares of NYSE QEP opened at $12.19 on Tuesday. Qep Resources has a one year low of $7.02 and a one year high of $12.66. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 15.83 and a beta of 1.51.
Qep Resources (NYSE:QEP) last issued its earnings results on Wednesday, April 25th. The pipeline company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $428.90 million during the quarter, compared to the consensus estimate of $369.94 million. Qep Resources had a return on equity of 4.66% and a net margin of 8.51%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.14) EPS. sell-side analysts predict that Qep Resources will post -0.56 EPS for the current fiscal year.
Qep Resources declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 28th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the pipeline company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, Director David A. Trice acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was bought at an average cost of $9.00 per share, for a total transaction of $90,000.00. Following the purchase, the director now owns 50,000 shares in the company, valued at approximately $450,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its holdings in Qep Resources by 4.9% in the 4th quarter. Alliancebernstein L.P. now owns 10,177,149 shares of the pipeline company’s stock worth $97,395,000 after purchasing an additional 472,446 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Qep Resources by 47.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,715,171 shares of the pipeline company’s stock worth $57,549,000 after purchasing an additional 2,166,476 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Qep Resources by 5.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 3,015,553 shares of the pipeline company’s stock worth $29,522,000 after purchasing an additional 152,617 shares in the last quarter. Talara Capital Management LLC lifted its holdings in Qep Resources by 13.6% in the 4th quarter. Talara Capital Management LLC now owns 2,841,015 shares of the pipeline company’s stock worth $27,189,000 after purchasing an additional 341,015 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Qep Resources by 0.3% in the 4th quarter. Mackenzie Financial Corp now owns 2,702,500 shares of the pipeline company’s stock worth $25,863,000 after purchasing an additional 7,500 shares in the last quarter. Institutional investors own 95.10% 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.