QEP Resources Inc (NYSE:QEP)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.80, but opened at $4.72. QEP Resources shares last traded at $4.71, with a volume of 153,591 shares traded.
QEP has been the topic of several recent research reports. ValuEngine upgraded QEP Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BMO Capital Markets started coverage on shares of QEP Resources in a report on Tuesday, September 10th. They issued a “market perform” rating and a $5.00 price target on the stock. Piper Jaffray Companies raised shares of QEP Resources from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $3.50 to $6.00 in a report on Monday, October 28th. Stephens raised shares of QEP Resources from an “equal” rating to an “overweight” rating and set a $7.00 price target on the stock in a report on Wednesday, October 30th. Finally, Williams Capital raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. QEP Resources has an average rating of “Hold” and an average target price of $7.67.
The firm has a market cap of $1.13 billion, a P/E ratio of -27.82 and a beta of 2.12. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a 50 day moving average of $3.74 and a 200 day moving average of $4.30.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, October 23rd. The pipeline company reported $0.05 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.05. QEP Resources had a positive return on equity of 0.30% and a negative net margin of 47.59%. The firm had revenue of $307.50 million for the quarter, compared to analysts’ expectations of $295.03 million. During the same period last year, the firm earned $0.17 earnings per share. The company’s revenue for the quarter was down 45.2% compared to the same quarter last year. On average, research analysts predict that QEP Resources Inc will post 0.22 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Maverick Capital Ltd. purchased a new stake in shares of QEP Resources during the third quarter worth about $907,000. Metropolitan Life Insurance Co NY boosted its holdings in shares of QEP Resources by 15.8% during the third quarter. Metropolitan Life Insurance Co NY now owns 78,786 shares of the pipeline company’s stock worth $292,000 after purchasing an additional 10,773 shares during the period. Millennium Management LLC boosted its holdings in shares of QEP Resources by 148.3% during the third quarter. Millennium Management LLC now owns 8,051,408 shares of the pipeline company’s stock worth $29,790,000 after purchasing an additional 4,808,694 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of QEP Resources by 89.0% during the third quarter. Squarepoint Ops LLC now owns 767,333 shares of the pipeline company’s stock worth $2,839,000 after purchasing an additional 361,255 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of QEP Resources by 2.4% during the third quarter. California State Teachers Retirement System now owns 394,293 shares of the pipeline company’s stock worth $1,459,000 after purchasing an additional 9,356 shares during the period. 99.77% of the stock is currently owned by hedge funds and other institutional investors.
QEP Resources Company Profile (NYSE:QEP)
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.
