Trading Report: The QEP Resources Inc. (QEP) Coverage Initiated by Analysts at Evercore ISI

The QEP Resources Inc. (QEP) Coverage Initiated by Analysts at Evercore ISI

Evercore ISI assumed coverage on shares of QEP Resources Inc. (NYSE:QEP) in a research note published on Friday morning. The firm issued a hold rating and a $22.00 price target on the stock.

Several other analysts have also weighed in on QEP. Deutsche Bank AG raised their price objective on shares of QEP Resources from $22.00 to $23.00 and gave the stock a buy rating in a report on Tuesday, June 14th. Piper Jaffray Cos. raised shares of QEP Resources from a neutral rating to an overweight rating in a report on Tuesday, June 14th. Simmons raised shares of QEP Resources from a neutral rating to an overweight rating and raised their price target for the company from $20.00 to $24.00 in a report on Wednesday, June 15th. Drexel Hamilton reissued a buy rating and issued a $33.00 price target on shares of QEP Resources in a report on Wednesday, June 22nd. Finally, Cantor Fitzgerald reissued a buy rating on shares of QEP Resources in a report on Wednesday, June 22nd. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $22.38.

Shares of QEP Resources (NYSE:QEP) opened at 18.07 on Friday. The stock’s 50 day moving average price is $18.55 and its 200-day moving average price is $17.77. QEP Resources has a 12 month low of $8.54 and a 12 month high of $20.96. The firm’s market cap is $4.33 billion.

QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.12. The firm earned $333.70 million during the quarter, compared to analysts’ expectations of $362.17 million. QEP Resources had a negative net margin of 67.39% and a negative return on equity of 4.04%. The company’s revenue for the quarter was down 41.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. Equities research analysts anticipate that QEP Resources will post ($1.19) earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Creative Planning boosted its stake in QEP Resources by 0.6% in the third quarter. Creative Planning now owns 32,954 shares of the company’s stock valued at $644,000 after buying an additional 200 shares in the last quarter. IBM Retirement Fund boosted its stake in QEP Resources by 1.0% in the second quarter. IBM Retirement Fund now owns 21,811 shares of the company’s stock valued at $385,000 after buying an additional 207 shares in the last quarter. Cipher Capital LP boosted its stake in QEP Resources by 0.5% in the second quarter. Cipher Capital LP now owns 50,100 shares of the company’s stock valued at $884,000 after buying an additional 235 shares in the last quarter. Suntrust Banks Inc. boosted its stake in QEP Resources by 9.4% in the second quarter. Suntrust Banks Inc. now owns 13,533 shares of the company’s stock valued at $237,000 after buying an additional 1,167 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its stake in QEP Resources by 8.6% in the second quarter. Capstone Asset Management Co. now owns 15,027 shares of the company’s stock valued at $265,000 after buying an additional 1,190 shares in the last quarter. 87.51% of the stock is currently owned by institutional investors and hedge funds.

QEP Resources Company Profile

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