QEP Resources Inc (NYSE:QEP) – Equities researchers at SunTrust Banks decreased their Q3 2019 earnings per share estimates for shares of QEP Resources in a research note issued to investors on Wednesday, August 7th, according to Zacks Investment Research. SunTrust Banks analyst N. Dingmann now anticipates that the pipeline company will post earnings per share of $0.05 for the quarter, down from their previous estimate of $0.07. SunTrust Banks currently has a “Hold” rating and a $8.00 price target on the stock. SunTrust Banks also issued estimates for QEP Resources’ Q4 2019 earnings at $0.05 EPS, FY2019 earnings at $0.22 EPS, Q1 2020 earnings at $0.14 EPS, Q3 2020 earnings at $0.16 EPS, Q4 2020 earnings at $0.17 EPS, Q1 2021 earnings at $0.18 EPS and Q2 2021 earnings at $0.20 EPS.
QEP Resources (NYSE:QEP) last announced its quarterly earnings results on Wednesday, August 7th. The pipeline company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.07). The company had revenue of $296.20 million for the quarter, compared to analysts’ expectations of $293.93 million. QEP Resources had a negative net margin of 44.56% and a positive return on equity of 1.29%. The firm’s revenue was down 44.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 earnings per share.
QEP has been the subject of a number of other reports. Williams Capital restated a “hold” rating and issued a $8.00 price objective on shares of QEP Resources in a research report on Monday, July 22nd. ValuEngine upgraded QEP Resources from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. CIBC restated a “market perform” rating on shares of QEP Resources in a research report on Tuesday, July 9th. Oppenheimer cut QEP Resources from an “outperform” rating to a “market perform” rating and set a $7.25 price objective for the company. in a research report on Tuesday, July 9th. Finally, Tudor Pickering cut QEP Resources from a “buy” rating to a “hold” rating in a research report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the stock. QEP Resources has a consensus rating of “Hold” and a consensus price target of $10.73.
QEP Resources stock opened at $3.76 on Friday. The stock has a market capitalization of $996.85 million, a PE ratio of -22.12 and a beta of 1.92. QEP Resources has a 12 month low of $3.39 and a 12 month high of $12.05. The business has a 50 day simple moving average of $5.66 and a 200-day simple moving average of $7.05. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.72 and a quick ratio of 0.72.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $0.02 per share. The ex-dividend date is Monday, August 19th. This represents a $0.08 annualized dividend and a yield of 2.13%.
In other QEP Resources news, CEO Timothy J. Cutt acquired 15,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were acquired at an average price of $4.04 per share, for a total transaction of $60,600.00. Following the acquisition, the chief executive officer now owns 228,777 shares in the company, valued at approximately $924,259.08. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David A. Trice bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $3.80 per share, with a total value of $38,000.00. Following the completion of the transaction, the director now owns 60,000 shares in the company, valued at $228,000. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 30,000 shares of company stock worth $119,450. 1.71% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of QEP. BlackRock Inc. increased its stake in QEP Resources by 31.8% in the 2nd quarter. BlackRock Inc. now owns 28,182,615 shares of the pipeline company’s stock valued at $203,761,000 after purchasing an additional 6,792,284 shares in the last quarter. Norges Bank acquired a new position in shares of QEP Resources during the fourth quarter worth about $19,230,000. Alpine Associates Management Inc. acquired a new position in shares of QEP Resources during the first quarter worth about $18,806,000. Wells Fargo & Company MN lifted its stake in shares of QEP Resources by 67.1% during the second quarter. Wells Fargo & Company MN now owns 5,873,927 shares of the pipeline company’s stock worth $42,469,000 after purchasing an additional 2,358,578 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of QEP Resources by 4,106.4% during the second quarter. Nuveen Asset Management LLC now owns 1,602,946 shares of the pipeline company’s stock worth $11,590,000 after acquiring an additional 1,564,839 shares during the last quarter. 99.22% of the stock is owned by institutional investors and hedge funds.
About QEP Resources
QEP Resources, Inc operates as a crude oil and natural gas exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in Western Texas; and Williston Basin in North Dakota. As of December 31, 2018, it had estimated proved reserves of approximately 658.2 MMboe.
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