QEP Resources (QEP) Shares Down 7.4%

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QEP Resources Inc (NYSE:QEP) traded down 7.4% during mid-day trading on Tuesday . The company traded as low as $6.24 and last traded at $6.26. 8,430,866 shares traded hands during mid-day trading, an increase of 61% from the average session volume of 5,227,860 shares. The stock had previously closed at $6.76.

A number of equities research analysts have recently issued reports on the stock. Williams Capital reaffirmed a “buy” rating and issued a $12.00 target price on shares of QEP Resources in a report on Wednesday, December 12th. JPMorgan Chase & Co. set a $8.00 price target on shares of QEP Resources and gave the company a “hold” rating in a research note on Friday, December 7th. Stephens started coverage on shares of QEP Resources in a research note on Thursday, December 6th. They issued an “equal weight” rating and a $12.00 price target on the stock. Zacks Investment Research upgraded shares of QEP Resources from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Friday, November 30th. Finally, Cowen started coverage on shares of QEP Resources in a research note on Thursday, November 29th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.12.

The company has a market cap of $1.60 billion, a P/E ratio of 8.22, a PEG ratio of 8.28 and a beta of 1.34. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.35 and a current ratio of 0.35.

QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, November 7th. The pipeline company reported $0.17 earnings per share (EPS) for the quarter, topping the Zacks’ 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 7.86%. The firm had revenue of $560.80 million for the quarter, compared to analyst estimates of $497.45 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The business’s revenue was up 43.8% compared to the same quarter last year. Equities research analysts expect that QEP Resources Inc will post 0.07 earnings per share for the current year.

Several large investors have recently made changes to their positions in QEP. CastleArk Alternatives LLC acquired a new position in shares of QEP Resources during the 2nd quarter worth approximately $113,000. Tower Research Capital LLC TRC grew its position in shares of QEP Resources by 298.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,550 shares of the pipeline company’s stock worth $119,000 after purchasing an additional 7,899 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of QEP Resources by 80.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,142 shares of the pipeline company’s stock worth $161,000 after purchasing an additional 5,858 shares in the last quarter. Iberiabank Corp acquired a new position in shares of QEP Resources during the 3rd quarter worth approximately $182,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of QEP Resources during the 2nd quarter worth approximately $225,000. Hedge funds and other institutional investors own 99.20% of the company’s stock.

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QEP Resources Company Profile (NYSE:QEP)

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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