QEP Resources (QEP) Stock Price Down 6.4%

QEP Resources Inc (NYSE:QEP)’s share price fell 6.4% during trading on Thursday . The company traded as low as $9.15 and last traded at $9.17. 12,559,814 shares changed hands during mid-day trading, an increase of 143% from the average session volume of 5,176,455 shares. The stock had previously closed at $9.80.

A number of brokerages recently commented on QEP. ValuEngine cut shares of QEP Resources from a “sell” rating to a “strong sell” rating in a research report on Thursday. Williams Capital set a $15.00 target price on shares of QEP Resources and gave the stock a “buy” rating in a research report on Wednesday. Tudor Pickering upgraded shares of QEP Resources from a “hold” rating to a “buy” rating in a research report on Wednesday. Oppenheimer restated a “buy” rating on shares of QEP Resources in a research report on Wednesday. Finally, Wells Fargo & Co cut shares of QEP Resources from an “outperform” rating to a “market perform” rating and set a $14.00 price objective on the stock. in a research report on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $13.53.

The stock has a market cap of $2.23 billion, a PE ratio of 10.60 and a beta of 1.35. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.34 and a current ratio of 0.34.

QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, November 7th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.18. QEP Resources had a negative net margin of 13.63% and a positive return on equity of 5.96%. The firm had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $497.45 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The company’s revenue for the quarter was up 43.8% compared to the same quarter last year. As a group, analysts forecast that QEP Resources Inc will post -0.19 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. CastleArk Alternatives LLC bought a new stake in shares of QEP Resources during the 2nd quarter valued at about $113,000. Cubist Systematic Strategies LLC boosted its stake in shares of QEP Resources by 80.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,142 shares of the pipeline company’s stock valued at $161,000 after purchasing an additional 5,858 shares in the last quarter. Iberiabank Corp bought a new stake in shares of QEP Resources during the 3rd quarter valued at about $182,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of QEP Resources during the 2nd quarter valued at about $225,000. Finally, Oakbrook Investments LLC boosted its stake in shares of QEP Resources by 54.0% during the 2nd quarter. Oakbrook Investments LLC now owns 20,100 shares of the pipeline company’s stock valued at $246,000 after purchasing an additional 7,050 shares in the last quarter. 98.99% of the stock is currently owned by hedge funds and other institutional investors.

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QEP Resources Company Profile (NYSE:QEP)

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.

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