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.
About QEP Resources