QEP Resources (NYSE:QEP) Shares Gap Down to $3.78

QEP Resources Inc (NYSE:QEP) shares gapped down before the market opened on Thursday . The stock had previously closed at $3.60, but opened at $3.78. QEP Resources shares last traded at $3.78, with a volume of 84,555 shares traded.

Several analysts have recently issued reports on QEP shares. CIBC reissued a “market perform” rating on shares of QEP Resources in a research report on Tuesday, July 9th. Williams Capital reissued a “hold” rating and set a $8.00 price target on shares of QEP Resources in a research report on Monday, July 22nd. Raymond James cut shares of QEP Resources from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, August 8th. SunTrust Banks set a $8.00 price target on shares of QEP Resources and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Finally, Oppenheimer cut shares of QEP Resources from an “outperform” rating to a “market perform” rating and set a $7.25 price target on the stock. in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $10.73.

The company’s fifty day moving average is $5.66 and its two-hundred day moving average is $7.05. The stock has a market cap of $996.85 million, a price-to-earnings ratio of -22.12 and a beta of 1.92. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.77.

QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, August 7th. The pipeline company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.07). The firm had revenue of $296.20 million during 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 firm’s revenue was down 44.4% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. Sell-side analysts predict that QEP Resources Inc will post 0.33 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be issued a $0.02 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $0.08 annualized dividend and a yield of 2.13%.

In other news, Director David A. Trice bought 10,000 shares of QEP Resources stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $3.80 per share, with a total value of $38,000.00. Following the completion of the acquisition, the director now directly owns 60,000 shares in the company, valued at $228,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy J. Cutt bought 15,000 shares of QEP Resources stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $4.04 per share, for a total transaction of $60,600.00. Following the acquisition, the chief executive officer now owns 228,777 shares of the company’s stock, valued at $924,259.08. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 30,000 shares of company stock worth $119,450. 1.71% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Royal London Asset Management Ltd. acquired a new stake in QEP Resources during the first quarter worth approximately $49,000. Quadrant Capital Group LLC raised its holdings in QEP Resources by 2,702.9% during the first quarter. Quadrant Capital Group LLC now owns 6,755 shares of the pipeline company’s stock worth $50,000 after purchasing an additional 6,514 shares in the last quarter. CAPROCK Group Inc. acquired a new stake in QEP Resources during the second quarter worth approximately $72,000. Jane Street Group LLC raised its holdings in QEP Resources by 107.2% during the fourth quarter. Jane Street Group LLC now owns 15,321 shares of the pipeline company’s stock worth $86,000 after purchasing an additional 226,747 shares in the last quarter. Finally, Bluefin Trading LLC acquired a new stake in QEP Resources during the second quarter worth approximately $92,000. 99.22% of the stock is currently owned by hedge funds and other institutional investors.

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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