QEP Resources Inc (NYSE:QEP) Given Average Rating of “Hold” by Brokerages

QEP Resources Inc (NYSE:QEP) has been assigned a consensus recommendation of “Hold” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $9.28.

A number of research firms have commented on QEP. Zacks Investment Research downgraded shares of QEP Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. ValuEngine raised shares of QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Raymond James downgraded shares of QEP Resources from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, August 8th. Piper Jaffray Companies set a $5.00 price target on shares of QEP Resources and gave the company a “hold” rating in a report on Friday. Finally, CIBC restated a “market perform” rating on shares of QEP Resources in a report on Tuesday, July 9th.

QEP stock traded up $0.09 during trading on Wednesday, hitting $4.10. The company had a trading volume of 5,984,166 shares, compared to its average volume of 7,577,189. The firm has a market capitalization of $894.55 million, a P/E ratio of -24.12 and a beta of 1.92. QEP Resources has a 52-week low of $3.39 and a 52-week high of $12.05. The company has a 50 day simple moving average of $5.60 and a 200-day simple moving average of $7.04. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.77.

QEP Resources (NYSE:QEP) last posted its quarterly earnings results 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). The company had revenue of $296.20 million during the quarter, compared to analysts’ expectations of $293.93 million. QEP Resources had a positive return on equity of 1.29% and a negative net margin of 44.56%. The company’s quarterly revenue was down 44.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. Sell-side analysts forecast that QEP Resources will post 0.31 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 1.95%. The ex-dividend date is Monday, August 19th.

In other news, Director David A. Trice bought 10,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $3.80 per share, with a total value of $38,000.00. Following the acquisition, the director now directly owns 60,000 shares in the company, valued at $228,000. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Timothy J. Cutt bought 15,000 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average cost of $4.04 per share, with a total value of $60,600.00. Following the completion of the acquisition, the chief executive officer now owns 228,777 shares in the company, valued at $924,259.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 30,000 shares of company stock valued at $119,450. Company insiders own 1.71% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Eagle Boston Investment Management Inc. increased its holdings in QEP Resources by 1.2% in the 1st quarter. Eagle Boston Investment Management Inc. now owns 135,597 shares of the pipeline company’s stock worth $1,056,000 after acquiring an additional 1,667 shares in the last quarter. Mason Street Advisors LLC boosted its position in shares of QEP Resources by 1.3% during the 1st quarter. Mason Street Advisors LLC now owns 125,692 shares of the pipeline company’s stock valued at $979,000 after acquiring an additional 1,670 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of QEP Resources by 0.6% during the 2nd quarter. Retirement Systems of Alabama now owns 309,622 shares of the pipeline company’s stock valued at $2,239,000 after acquiring an additional 1,930 shares during the last quarter. Meeder Asset Management Inc. boosted its position in shares of QEP Resources by 2.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 132,942 shares of the pipeline company’s stock valued at $962,000 after acquiring an additional 2,596 shares during the last quarter. Finally, US Bancorp DE boosted its position in shares of QEP Resources by 13.7% during the 2nd quarter. US Bancorp DE now owns 23,596 shares of the pipeline company’s stock valued at $170,000 after acquiring an additional 2,839 shares during the last quarter.

About QEP Resources

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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Analyst Recommendations for QEP Resources (NYSE:QEP)

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