Brokers Offer Predictions for QEP Resources Inc’s Q3 2020 Earnings (NYSE:QEP)

QEP Resources Inc (NYSE:QEP) – Research analysts at SunTrust Banks boosted their Q3 2020 earnings per share estimates for QEP Resources in a research note issued to investors on Thursday, June 25th. SunTrust Banks analyst N. Dingmann now expects that the pipeline company will post earnings per share of $0.01 for the quarter, up from their previous estimate of ($0.01).

QEP Resources (NYSE:QEP) last released its earnings results on Wednesday, April 29th. The pipeline company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.16. The company had revenue of $225.80 million during the quarter, compared to analyst estimates of $271.46 million. QEP Resources had a net margin of 33.59% and a return on equity of 0.94%.

Other equities research analysts have also issued reports about the stock. Piper Sandler lowered shares of QEP Resources from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $1.50 to $1.00 in a report on Tuesday, March 31st. Wells Fargo & Co increased their target price on shares of QEP Resources from $1.00 to $1.50 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Siebert Williams Shank lowered shares of QEP Resources from a “buy” rating to a “hold” rating in a report on Monday, March 9th. MKM Partners initiated coverage on shares of QEP Resources in a report on Wednesday, June 17th. They issued a “buy” rating and a $3.00 target price for the company. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $1.00 price objective on shares of QEP Resources in a report on Thursday, March 19th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $3.58.

QEP Resources stock opened at $1.26 on Monday. The firm has a 50 day moving average of $1.24 and a 200 day moving average of $1.97. The firm has a market capitalization of $308.96 million, a price-to-earnings ratio of 0.78 and a beta of 4.78. QEP Resources has a 12-month low of $0.26 and a 12-month high of $7.42. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.54.

Several hedge funds and other institutional investors have recently bought and sold shares of QEP. FMR LLC boosted its position in shares of QEP Resources by 1.8% during the 1st quarter. FMR LLC now owns 2,252,517 shares of the pipeline company’s stock valued at $17,547,000 after acquiring an additional 40,383 shares during the last quarter. Swiss National Bank boosted its position in shares of QEP Resources by 2.0% during the 4th quarter. Swiss National Bank now owns 455,442 shares of the pipeline company’s stock valued at $2,049,000 after acquiring an additional 8,800 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of QEP Resources by 29.8% during the 4th quarter. Victory Capital Management Inc. now owns 45,615 shares of the pipeline company’s stock valued at $205,000 after acquiring an additional 10,467 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of QEP Resources by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,950,178 shares of the pipeline company’s stock valued at $8,776,000 after acquiring an additional 143,048 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of QEP Resources by 9.6% during the 4th quarter. Bank of Montreal Can now owns 96,238 shares of the pipeline company’s stock valued at $434,000 after acquiring an additional 8,422 shares during the last quarter. Hedge funds and other institutional investors own 90.08% of the company’s stock.

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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Earnings History and Estimates for QEP Resources (NYSE:QEP)

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