Today, QEP Resources Inc. (QEP) Receives New Coverage from Analysts at Evercore ISI

Today, QEP Resources Inc. (QEP) Receives New Coverage from Analysts at Evercore ISI

Analysts at Evercore ISI initiated coverage on shares of QEP Resources Inc. (NYSE:QEP) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the stock.

A number of other analysts also recently issued reports on QEP. Zacks Investment Research upgraded shares of QEP Resources from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, June 29th. Barclays PLC raised shares of QEP Resources from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $17.00 to $22.00 in a research report on Wednesday, August 3rd. Drexel Hamilton reaffirmed a “buy” rating and set a $33.00 price objective on shares of QEP Resources in a research report on Wednesday, June 22nd. Simmons raised shares of QEP Resources from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $20.00 to $24.00 in a research report on Wednesday, June 15th. Finally, Deutsche Bank AG increased their price objective on shares of QEP Resources from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, June 14th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. QEP Resources presently has a consensus rating of “Buy” and an average price target of $22.40.

QEP Resources (NYSE:QEP) opened at 18.77 on Friday. QEP Resources has a 12 month low of $8.54 and a 12 month high of $20.96. The firm’s market capitalization is $4.50 billion. The stock’s 50 day moving average price is $18.78 and its 200-day moving average price is $17.62.

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

Several large investors have recently added to or reduced their stakes in QEP. ClariVest Asset Management LLC purchased a new stake in QEP Resources during the second quarter valued at about $105,000. Quantbot Technologies LP bought a new stake in shares of QEP Resources during the second quarter valued at approximately $119,000. Wright Investors Service Inc. bought a new stake in shares of QEP Resources during the second quarter valued at approximately $183,000. MUFG Americas Holdings Corp raised 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 valued at $198,000 after buying an additional 7,521 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in shares of QEP Resources by 461.3% in the second quarter. Meeder Asset Management Inc. now owns 12,428 shares of the company’s stock valued at $220,000 after buying an additional 10,214 shares in the last quarter. 87.51% of the stock is owned by institutional investors and hedge funds.

QEP Resources Company Profile

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