Williams Capital Reiterates “$15.00” Price Target for QEP Resources (QEP)

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Williams Capital set a $15.00 price target on QEP Resources (NYSE:QEP) in a report issued on Wednesday. The brokerage currently has a buy rating on the pipeline company’s stock.

Several other research analysts also recently commented on QEP. Oppenheimer reaffirmed a buy rating on shares of QEP Resources in a research note on Wednesday. ValuEngine downgraded shares of QEP Resources from a hold rating to a sell rating in a research note on Thursday, July 26th. Johnson Rice downgraded shares of QEP Resources from a buy rating to an accumulate rating in a research note on Thursday, July 26th. Tudor Pickering raised shares of QEP Resources from a hold rating to a buy rating in a research note on Wednesday. Finally, Piper Jaffray Companies set a $15.00 price target on shares of QEP Resources and gave the stock a hold rating in a research note on Monday, July 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $13.53.

QEP stock traded down $0.09 during trading on Wednesday, hitting $9.08. The company had a trading volume of 7,861,687 shares, compared to its average volume of 4,970,155. The company has a market capitalization of $2.32 billion, a PE ratio of 11.79 and a beta of 1.35. QEP Resources has a 52-week low of $7.04 and a 52-week high of $13.77. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.34 and a quick ratio of 0.34.

QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, November 7th. The pipeline company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.18. The company had revenue of $560.80 million for the quarter, compared to the consensus estimate of $497.45 million. QEP Resources had a negative net margin of 11.89% and a positive return on equity of 7.72%. The firm’s revenue was up 43.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) EPS. Sell-side analysts forecast that QEP Resources will post -0.19 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CastleArk Alternatives LLC purchased a new position in QEP Resources during the 2nd quarter valued at about $113,000. Cubist Systematic Strategies LLC increased its position in QEP Resources by 80.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,142 shares of the pipeline company’s stock valued at $161,000 after purchasing an additional 5,858 shares during the period. Iberiabank Corp purchased a new position in QEP Resources during the 3rd quarter valued at about $182,000. Whittier Trust Co. of Nevada Inc. increased its position in QEP Resources by 390.9% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 16,200 shares of the pipeline company’s stock valued at $559,000 after purchasing an additional 12,900 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in QEP Resources during the 2nd quarter valued at about $225,000. 98.99% of the stock is currently owned by institutional investors and hedge funds.

About QEP Resources

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.

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