QEP Resources (QEP) Given Buy Rating at Oppenheimer

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Oppenheimer restated their buy rating on shares of QEP Resources (NYSE:QEP) in a research report report published on Wednesday morning.

QEP has been the subject of several other reports. KLR Group reissued a buy rating and set a $14.00 price objective on shares of QEP Resources in a report on Monday, August 20th. Williams Capital reissued a buy rating and set a $18.00 price objective on shares of QEP Resources in a report on Monday, July 23rd. Johnson Rice cut shares of QEP Resources from a buy rating to an accumulate rating in a report on Thursday, July 26th. TheStreet cut shares of QEP Resources from a c- rating to a d+ rating in a report on Thursday, August 9th. Finally, ValuEngine cut shares of QEP Resources from a hold rating to a sell rating in a report on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $13.53.

Shares of QEP traded down $0.09 during mid-day trading on Wednesday, hitting $9.08. 7,861,687 shares of the company traded hands, compared to its average volume of 4,970,155. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.79. QEP Resources has a 1 year low of $7.04 and a 1 year high of $13.77. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 11.79 and a beta of 1.35.

QEP Resources (NYSE:QEP) last released its quarterly earnings data on Wednesday, November 7th. The pipeline company reported $0.17 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.18. QEP Resources had a negative net margin of 11.89% and a positive return on equity of 7.72%. The firm had revenue of $560.80 million during the quarter, compared to analysts’ expectations of $497.45 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The firm’s quarterly revenue was up 43.8% on a year-over-year basis. As a group, analysts expect that QEP Resources will post -0.19 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the business. Vident Investment Advisory LLC increased its holdings in QEP Resources by 1.5% during the second quarter. Vident Investment Advisory LLC now owns 344,774 shares of the pipeline company’s stock valued at $4,227,000 after buying an additional 5,169 shares during the last quarter. People s United Financial Inc. increased its holdings in QEP Resources by 19.8% during the second quarter. People s United Financial Inc. now owns 32,268 shares of the pipeline company’s stock valued at $395,000 after buying an additional 5,322 shares during the last quarter. Federated Investors Inc. PA increased its holdings in QEP Resources by 9.4% during the second quarter. Federated Investors Inc. PA now owns 64,125 shares of the pipeline company’s stock valued at $786,000 after buying an additional 5,510 shares during the last quarter. Rafferty Asset Management LLC increased its holdings in QEP Resources by 26.8% during the third quarter. Rafferty Asset Management LLC now owns 26,448 shares of the pipeline company’s stock valued at $299,000 after buying an additional 5,592 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in QEP Resources by 80.4% during the second quarter. Cubist Systematic Strategies LLC now owns 13,142 shares of the pipeline company’s stock valued at $161,000 after buying an additional 5,858 shares during the last quarter. 98.99% of the stock is owned by institutional investors and hedge funds.

QEP Resources Company Profile

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.

See Also: What is an Initial Public Offering (IPO)?

Analyst Recommendations for QEP Resources (NYSE:QEP)

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