QEP Resources Inc (NYSE:QEP)’s stock price traded down 9.6% on Wednesday . The company traded as low as $0.92 and last traded at $0.94. 5,479,063 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 9,395,998 shares. The stock had previously closed at $1.04.
A number of analysts recently weighed in on the stock. MKM Partners assumed coverage on shares of QEP Resources in a research note on Wednesday, June 17th. They issued a “buy” rating and a $3.00 price objective for the company. ValuEngine lowered shares of QEP Resources from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. raised shares of QEP Resources from an “underweight” rating to a “neutral” rating in a research note on Monday, July 20th. Raymond James reiterated a “hold” rating on shares of QEP Resources in a report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their target price on shares of QEP Resources from $1.50 to $2.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. QEP Resources has a consensus rating of “Hold” and an average target price of $2.33.
The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $227.96 million, a price-to-earnings ratio of 1.43 and a beta of 4.83. The firm has a 50-day moving average price of $1.26 and a two-hundred day moving average price of $1.06.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, July 29th. The pipeline company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). QEP Resources had a return on equity of 0.68% and a net margin of 15.74%. The business had revenue of $120.60 million for the quarter, compared to analyst estimates of $213.73 million. Research analysts anticipate that QEP Resources Inc will post 0.16 earnings per share for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in QEP. State Street Corp increased its holdings in shares of QEP Resources by 42.5% in the first quarter. State Street Corp now owns 21,430,689 shares of the pipeline company’s stock valued at $7,169,000 after purchasing an additional 6,387,421 shares during the period. FMR LLC increased its holdings in shares of QEP Resources by 53.0% in the second quarter. FMR LLC now owns 11,495,780 shares of the pipeline company’s stock valued at $14,830,000 after purchasing an additional 3,981,700 shares during the period. Key Group Holdings Cayman LTD. increased its holdings in shares of QEP Resources by 65.0% in the second quarter. Key Group Holdings Cayman LTD. now owns 7,589,356 shares of the pipeline company’s stock valued at $9,790,000 after purchasing an additional 2,989,356 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of QEP Resources by 7.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,417,196 shares of the pipeline company’s stock valued at $6,989,000 after purchasing an additional 352,689 shares during the period. Finally, Verition Fund Management LLC acquired a new position in shares of QEP Resources in the second quarter valued at approximately $5,113,000. 60.94% of the stock is currently owned by institutional investors.
About QEP Resources (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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