The QEP Resources Inc. (QEP) Earns Neutral Rating from Analysts at Goldman Sachs Group Inc.

The QEP Resources Inc. (QEP) Earns Neutral Rating from Analysts at Goldman Sachs Group Inc.

Goldman Sachs Group Inc. assumed coverage on shares of QEP Resources Inc. (NYSE:QEP) in a report issued on Thursday morning. The brokerage issued a neutral rating and a $21.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. Deutsche Bank AG increased their target price on QEP Resources from $22.00 to $23.00 and gave the stock a buy rating in a research report on Tuesday, June 14th. KLR Group reaffirmed a buy rating and issued a $32.00 target price (up from $31.00) on shares of QEP Resources in a research report on Tuesday, August 2nd. Zacks Investment Research raised QEP Resources from a hold rating to a buy rating and set a $20.00 target price on the stock in a research report on Wednesday, June 29th. Cantor Fitzgerald reaffirmed a buy rating on shares of QEP Resources in a research report on Wednesday, June 22nd. Finally, Drexel Hamilton reaffirmed a buy rating and issued a $33.00 target price on shares of QEP Resources in a research report on Wednesday, June 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. QEP Resources has an average rating of Buy and an average price target of $22.38.

QEP Resources (NYSE:QEP) opened at 18.38 on Thursday. The stock’s 50 day moving average price is $18.62 and its 200 day moving average price is $17.77. QEP Resources has a 1-year low of $8.54 and a 1-year high of $20.96. The firm’s market cap is $4.40 billion.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ClariVest Asset Management LLC purchased a new position in shares of QEP Resources during the second quarter valued at $105,000. Quantbot Technologies LP bought a new position in QEP Resources during the second quarter worth $119,000. Wright Investors Service Inc. bought a new position in QEP Resources during the second quarter worth $183,000. Raymond James Trust N.A. bought a new position in QEP Resources during the third quarter worth $204,000. Finally, MUFG Americas Holdings Corp raised its position in QEP Resources by 201.4% in the second quarter. MUFG Americas Holdings Corp now owns 11,255 shares of the company’s stock worth $198,000 after buying an additional 7,521 shares during the period. 87.51% of the stock is owned by institutional investors and hedge funds.

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