Qep Resources (QEP) Forecasted to Earn FY2019 Earnings of ($0.26) Per Share

Qep Resources (NYSE:QEP) – Piper Jaffray issued their FY2019 EPS estimates for shares of Qep Resources in a report issued on Wednesday, April 18th. Piper Jaffray analyst K. Harrison anticipates that the pipeline company will earn ($0.26) per share for the year. Piper Jaffray currently has a “Buy” rating and a $13.00 target price on the stock.

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Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Qep Resources from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Wednesday, February 7th. Mizuho set a $15.00 price objective on shares of Qep Resources and gave the company a “buy” rating in a research note on Tuesday, January 16th. Williams Capital set a $18.00 price objective on shares of Qep Resources and gave the company a “buy” rating in a research note on Thursday, March 1st. Johnson Rice initiated coverage on shares of Qep Resources in a research note on Wednesday, March 21st. They set a “buy” rating and a $19.00 price objective for the company. Finally, TheStreet raised shares of Qep Resources from a “d” rating to a “c-” rating in a research note on Tuesday, March 13th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $12.86.

NYSE QEP opened at $12.27 on Friday. Qep Resources has a 12 month low of $7.02 and a 12 month high of $12.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.29 and a quick ratio of 0.28. The stock has a market cap of $2,918.13, a PE ratio of 15.73 and a beta of 1.53.

Qep Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, February 28th. The pipeline company reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $1.20. Qep Resources had a net margin of 16.59% and a return on equity of 5.06%. The company had revenue of $429.00 million during the quarter, compared to the consensus estimate of $392.01 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The company’s quarterly revenue was up 7.3% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QEP. Kornitzer Capital Management Inc. KS purchased a new position in Qep Resources in the 4th quarter worth approximately $100,000. Savant Capital LLC purchased a new position in Qep Resources in the 4th quarter worth approximately $108,000. Tocqueville Asset Management L.P. purchased a new position in Qep Resources in the 4th quarter worth approximately $141,000. MANA Advisors LLC purchased a new position in Qep Resources in the 4th quarter worth approximately $163,000. Finally, State of Alaska Department of Revenue purchased a new position in Qep Resources in the 4th quarter worth approximately $178,000. Hedge funds and other institutional investors own 93.96% of the company’s stock.

In other news, Director David A. Trice bought 10,000 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was acquired at an average price of $9.00 per share, for a total transaction of $90,000.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $450,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

Qep Resources declared that its board has authorized a share buyback program on Wednesday, February 28th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the pipeline company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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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.

Earnings History and Estimates for Qep Resources (NYSE:QEP)

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