QEP Resources Inc. (NYSE:QEP) – SunTrust Banks dropped their Q3 2016 EPS estimates for shares of QEP Resources in a report released on Wednesday. SunTrust Banks analyst N. Dingmann now expects that the firm will post earnings of ($0.25) per share for the quarter, down from their prior forecast of ($0.19). SunTrust Banks also issued estimates for QEP Resources’ Q4 2016 earnings at ($0.25) EPS, FY2016 earnings at ($1.20) EPS, Q1 2017 earnings at ($0.17) EPS, Q2 2017 earnings at ($0.17) EPS, Q3 2017 earnings at ($0.15) EPS, Q4 2017 earnings at ($0.14) EPS and FY2017 earnings at ($0.62) EPS.
QEP has been the topic of several other reports. Goldman Sachs Group Inc. initiated coverage on QEP Resources in a report on Thursday, October 6th. They issued a “neutral” rating and a $21.00 price target on the stock. Mizuho started coverage on QEP Resources in a report on Wednesday, October 5th. They issued a “buy” rating and a $24.00 price target on the stock. Zacks Investment Research downgraded QEP Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 19th. Evercore ISI started coverage on QEP Resources in a report on Friday, October 7th. They set a “hold” rating and a $22.00 price objective on the stock. Finally, Barclays PLC upgraded QEP Resources from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $17.00 to $22.00 in a report on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $22.40.
QEP Resources (NYSE:QEP) opened at 16.43 on Monday. QEP Resources has a 52 week low of $8.54 and a 52 week high of $20.96. The firm has a 50-day moving average price of $17.93 and a 200-day moving average price of $18.06. The stock’s market capitalization is $3.94 billion.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, October 26th. The company reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.03. The business had revenue of $382.40 million for the quarter. QEP Resources had a negative return on equity of 5.55% and a negative net margin of 79.57%. QEP Resources’s revenue for the quarter was down 24.7% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share.
Several hedge funds have recently bought and sold shares of the company. ClariVest Asset Management LLC purchased a new stake in shares of QEP Resources during the second quarter worth approximately $105,000. Quantbot Technologies LP purchased a new stake in shares of QEP Resources during the second quarter worth approximately $119,000. Wright Investors Service Inc. purchased a new stake in shares of QEP Resources during the second quarter worth approximately $183,000. MUFG Americas Holdings Corp boosted its stake in shares of 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 in the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of QEP Resources during the third quarter worth approximately $204,000. 87.51% of the stock is owned by hedge funds and other institutional investors.
About QEP Resources