QEP Resources (QEP) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of QEP Resources (NYSE:QEP) from a buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “With a diversified asset base, exposure to emerging plays and increased focus on the quality acreage of the prolific Permian Basin, this mid-cap onshore-focused E&P offers a compelling value. QEP Resources has maintained its excellent track record of earnings surprise history, beating estimates in each of the last eleven quarters. Since its split from Questar Corp. in 2010, QEP has established a strong track record of production growth, while maintaining a competitive cost structure that has enabled the company to maintain healthy balance sheet and margins amid low oil prices. However, the company, which derives its reserves/production from oil and natural gas, is exposed to volatile commodity prices. This is also reflected in the share price of the company which has declined 50% over a year, underperforming the broader industry. Therefore, until oil and gas realizations improve further, we take a cautious stance on QEP shares.”

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets set a $11.00 price target on shares of QEP Resources and gave the company a buy rating in a research report on Tuesday, October 10th. Mizuho set a $15.00 price target on shares of QEP Resources and gave the company a buy rating in a research report on Tuesday, January 16th. Piper Jaffray Companies reissued a buy rating and set a $14.00 price target on shares of QEP Resources in a research report on Tuesday, January 9th. Williams Capital initiated coverage on shares of QEP Resources in a research report on Friday, December 8th. They set a buy rating and a $13.00 price target for the company. Finally, Barclays cut shares of QEP Resources from an overweight rating to an equal weight rating and set a $9.00 price target for the company. in a research report on Tuesday, November 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. QEP Resources currently has an average rating of Hold and a consensus target price of $12.59.

Shares of QEP Resources (QEP) opened at $7.51 on Tuesday. The firm has a market cap of $1,850.00, a price-to-earnings ratio of -125.17, a price-to-earnings-growth ratio of 8.68 and a beta of 1.72. The company has a current ratio of 1.55, a quick ratio of 1.54 and a debt-to-equity ratio of 0.52. QEP Resources has a 12-month low of $7.02 and a 12-month high of $17.58.

Large investors have recently bought and sold shares of the company. Kornitzer Capital Management Inc. KS purchased a new stake in shares of QEP Resources in the 4th quarter worth about $100,000. Savant Capital LLC purchased a new stake in shares of QEP Resources in the 4th quarter worth about $108,000. Suntrust Banks Inc. lifted its position in shares of QEP Resources by 5.8% in the 2nd quarter. Suntrust Banks Inc. now owns 13,536 shares of the pipeline company’s stock worth $135,000 after purchasing an additional 748 shares during the period. Southport Management L.L.C. purchased a new stake in shares of QEP Resources in the 3rd quarter worth about $171,000. Finally, Bbva Compass Bancshares Inc. purchased a new stake in shares of QEP Resources in the 3rd quarter worth about $178,000. 93.41% of the stock is owned by hedge funds and other institutional investors.

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About QEP Resources

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.

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