QEP has been the topic of several other research reports. Deutsche Bank lowered QEP Resources from a buy rating to a hold rating and lowered their price objective for the stock from $18.00 to $13.00 in a research report on Tuesday, July 18th. Cowen set a $12.00 price objective on QEP Resources and gave the stock a buy rating in a research report on Wednesday, July 19th. BidaskClub lowered QEP Resources from a sell rating to a strong sell rating in a research report on Thursday, July 27th. J P Morgan Chase & Co lowered QEP Resources from an overweight rating to a neutral rating and decreased their target price for the company from $11.00 to $9.00 in a research report on Thursday, July 27th. Finally, National Securities started coverage on QEP Resources in a report on Monday, July 31st. They issued a buy rating and a $11.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $14.19.
QEP Resources (QEP) traded up $0.68 during mid-day trading on Tuesday, hitting $10.34. 7,730,000 shares of the company’s stock traded hands, compared to its average volume of 4,557,118. QEP Resources has a 1-year low of $7.02 and a 1-year high of $21.12. The company has a quick ratio of 1.54, a current ratio of 1.55 and a debt-to-equity ratio of 0.52.
Several institutional investors and hedge funds have recently made changes to their positions in QEP. Commerce Bank purchased a new position in shares of QEP Resources in the 2nd quarter valued at about $102,000. Suntrust Banks Inc. lifted its stake in QEP Resources by 5.8% during the second 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 last quarter. Pitcairn Co. lifted its stake in QEP Resources by 4.3% during the second quarter. Pitcairn Co. now owns 13,512 shares of the pipeline company’s stock worth $136,000 after purchasing an additional 563 shares during the last quarter. Southport Management L.L.C. purchased a new stake in QEP Resources during the third quarter worth approximately $171,000. Finally, Bbva Compass Bancshares Inc. purchased a new stake in QEP Resources during the third quarter worth approximately $178,000. Institutional investors and hedge funds own 93.24% of the company’s stock.
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QEP Resources Company Profile
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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