QEP Resources Inc (NYSE:QEP) – Investment analysts at SunTrust Banks reduced their Q1 2020 EPS estimates for QEP Resources in a research report issued to clients and investors on Wednesday, October 16th. SunTrust Banks analyst N. Dingmann now forecasts that the pipeline company will earn $0.12 per share for the quarter, down from their previous forecast of $0.14. SunTrust Banks also issued estimates for QEP Resources’ Q3 2020 earnings at $0.18 EPS, Q1 2021 earnings at $0.17 EPS, Q2 2021 earnings at $0.19 EPS, Q3 2021 earnings at $0.19 EPS and FY2021 earnings at $0.72 EPS.
A number of other analysts have also recently weighed in on the company. Williams Capital reiterated a “hold” rating and set a $5.00 price target on shares of QEP Resources in a research report on Thursday, August 22nd. Raymond James cut QEP Resources from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, August 8th. ValuEngine upgraded QEP Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. CIBC reiterated a “market perform” rating on shares of QEP Resources in a research report on Tuesday, July 9th. Finally, BMO Capital Markets initiated coverage on QEP Resources in a research report on Tuesday, September 10th. They set a “market perform” rating and a $5.00 price target on the stock. One analyst has rated the stock with a sell rating and fifteen have issued a hold rating to the stock. QEP Resources currently has a consensus rating of “Hold” and an average price target of $8.91.
QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, August 7th. The pipeline company reported ($0.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.07). The firm had revenue of $296.20 million for the quarter, compared to analyst estimates of $293.93 million. QEP Resources had a negative net margin of 44.56% and a positive return on equity of 1.29%. The company’s quarterly revenue was down 44.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS.
In other QEP Resources news, CEO Timothy J. Cutt acquired 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was acquired at an average cost of $4.04 per share, with a total value of $60,600.00. Following the acquisition, the chief executive officer now directly owns 228,777 shares of the company’s stock, valued at approximately $924,259.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard J. Doleshek acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $3.50 per share, with a total value of $87,500.00. Following the completion of the acquisition, the chief financial officer now directly owns 533,723 shares in the company, valued at $1,868,030.50. The disclosure for this purchase can be found here. Insiders purchased a total of 140,000 shares of company stock valued at $534,450 over the last three months. Corporate insiders own 1.71% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. CAPROCK Group Inc. bought a new position in QEP Resources in the 2nd quarter worth approximately $72,000. Bluefin Trading LLC bought a new position in QEP Resources during the 2nd quarter valued at $92,000. Teza Capital Management LLC bought a new position in QEP Resources during the 2nd quarter valued at $108,000. Tiedemann Advisors LLC bought a new position in QEP Resources during the 2nd quarter valued at $108,000. Finally, Royal London Asset Management Ltd. boosted its stake in QEP Resources by 165.5% during the 2nd quarter. Royal London Asset Management Ltd. now owns 16,809 shares of the pipeline company’s stock valued at $121,000 after purchasing an additional 10,479 shares in the last quarter. 99.24% of the stock is owned by institutional investors and hedge funds.
QEP Resources Company Profile
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.
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