QEP Resources (NYSE:QEP) Shares Gap Up to $7.11

QEP Resources Inc (NYSE:QEP)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $7.96, but opened at $7.11. QEP Resources shares last traded at $7.01, with a volume of 158,257 shares.

QEP has been the topic of a number of analyst reports. Wells Fargo & Co reiterated a “hold” rating on shares of QEP Resources in a research note on Friday, April 12th. SunTrust Banks set a $8.00 price objective on QEP Resources and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Zacks Investment Research cut QEP Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. cut QEP Resources from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $11.00 to $9.00 in a research note on Friday, June 7th. Finally, Tudor Pickering cut QEP Resources from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $11.80.

The business’s 50 day simple moving average is $6.83. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.79. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -42.53 and a beta of 2.00.

QEP Resources (NYSE:QEP) last posted its quarterly earnings results on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.17. QEP Resources had a positive return on equity of 1.91% and a negative net margin of 60.23%. The business had revenue of $280.60 million for the quarter, compared to analysts’ expectations of $289.23 million. During the same quarter in the prior year, the business earned ($0.20) EPS. The firm’s revenue for the quarter was down 34.6% on a year-over-year basis. Equities research analysts expect that QEP Resources Inc will post 0.49 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of QEP. Rhumbline Advisers lifted its holdings in shares of QEP Resources by 55.2% in the fourth quarter. Rhumbline Advisers now owns 624,755 shares of the pipeline company’s stock valued at $3,517,000 after purchasing an additional 222,093 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of QEP Resources in the fourth quarter valued at approximately $605,000. FDx Advisors Inc. raised its position in shares of QEP Resources by 11.2% in the fourth quarter. FDx Advisors Inc. now owns 20,771 shares of the pipeline company’s stock valued at $117,000 after buying an additional 2,100 shares during the last quarter. California Public Employees Retirement System raised its position in shares of QEP Resources by 14.8% in the fourth quarter. California Public Employees Retirement System now owns 688,245 shares of the pipeline company’s stock valued at $3,875,000 after buying an additional 88,616 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of QEP Resources in the fourth quarter valued at approximately $86,000. Institutional investors and hedge funds own 99.22% of the company’s stock.

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.

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