According to Zacks, “QEP Resources' quality acreage in the prolific Permian Basin bodes well for its production prospects. Moreover, the company maintains a very competitive cost structure, which contributes to the consistency of its growth and returns. Additionally, QEP Resources has an active stock buyback program, which increases shareholders' value. However, cost inflation in the Permian Basin is a concern for the company. Also, the shortage in takeaway capacity in the basin can impact QEP Resources’ output and profitability. Moreover, the company has a weak balance sheet. Therefore, the stock warrants a cautious stance.”
A number of other brokerages have also recently issued reports on QEP. Wells Fargo & Co reiterated a “hold” rating on shares of QEP Resources in a report on Friday, April 12th. Raymond James set a $12.00 price target on QEP Resources and gave the company a “buy” rating in a research report on Wednesday, January 23rd. ValuEngine raised QEP Resources from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Finally, SunTrust Banks set a $8.00 price target on QEP Resources and gave the company a “hold” rating in a research report on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $11.75.
Shares of QEP Resources stock traded down $0.29 on Wednesday, reaching $7.77. 85,659 shares of the company’s stock were exchanged, compared to its average volume of 5,122,328. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -45.76 and a beta of 2.09. QEP Resources has a 52 week low of $5.00 and a 52 week high of $13.77. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.59 and a current ratio of 0.59.
QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.17. The firm had revenue of $280.60 million for the quarter, compared to analysts’ expectations of $289.23 million. QEP Resources had a positive return on equity of 1.91% and a negative net margin of 60.23%. The company’s revenue for the quarter was down 34.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) EPS. On average, equities research analysts forecast that QEP Resources will post 0.45 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of QEP Resources by 3.5% during the 4th quarter. BlackRock Inc. now owns 21,413,968 shares of the pipeline company’s stock valued at $120,561,000 after purchasing an additional 727,179 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of QEP Resources by 4.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,055,887 shares of the pipeline company’s stock valued at $101,655,000 after purchasing an additional 803,139 shares during the last quarter. Oslo Asset Management AS increased its position in shares of QEP Resources by 13.6% during the 1st quarter. Oslo Asset Management AS now owns 6,993,278 shares of the pipeline company’s stock valued at $54,478,000 after purchasing an additional 835,888 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of QEP Resources by 96.2% during the 4th quarter. Hsbc Holdings PLC now owns 5,943,161 shares of the pipeline company’s stock valued at $33,460,000 after purchasing an additional 2,913,876 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of QEP Resources by 1.7% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 3,711,200 shares of the pipeline company’s stock valued at $20,895,000 after purchasing an additional 62,500 shares during the last quarter. 99.22% of the stock is owned by hedge funds and other institutional investors.
QEP Resources Company Profile
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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