QEP Resources (NYSE:QEP) Downgraded to Strong Sell at ValuEngine

ValuEngine downgraded shares of QEP Resources (NYSE:QEP) from a sell rating to a strong sell rating in a report published on Wednesday morning, ValuEngine reports.

Several other analysts have also weighed in on QEP. Oppenheimer boosted their price objective on Valeritas from $1.25 to $12.00 and gave the company an outperform rating in a report on Tuesday, July 9th. Zacks Investment Research lowered Horiba from a hold rating to a sell rating in a report on Wednesday, May 22nd. Wells Fargo & Co reissued a buy rating on shares of SM Energy in a report on Friday, April 12th. JPMorgan Chase & Co. boosted their price objective on Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the company a neutral rating in a report on Friday, June 7th. Finally, Tudor Pickering lowered MEG Energy from a buy rating to a hold rating in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. QEP Resources has a consensus rating of Hold and an average target price of $11.09.

NYSE:QEP opened at $5.32 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.59 and a current ratio of 0.59. QEP Resources has a one year low of $5.00 and a one year high of $12.53. The stock has a 50-day simple moving average of $6.60. The firm has a market capitalization of $1.50 billion, a PE ratio of -31.29 and a beta of 1.93.



QEP Resources (NYSE:QEP) last announced its quarterly earnings data on Wednesday, April 24th. The pipeline company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. The firm had revenue of $280.60 million during the quarter, compared to analyst estimates of $289.23 million. QEP Resources had a positive return on equity of 1.91% and a negative net margin of 60.23%. QEP Resources’s quarterly revenue was down 34.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.20) earnings per share. As a group, equities research analysts expect that QEP Resources will post 0.47 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of QEP. Norges Bank bought a new position in shares of QEP Resources during the fourth quarter valued at approximately $19,230,000. Alpine Associates Management Inc. bought a new position in shares of QEP Resources during the first quarter valued at approximately $18,806,000. Two Sigma Investments LP bought a new position in shares of QEP Resources during the fourth quarter valued at approximately $7,400,000. Oslo Asset Management AS grew its holdings in shares of QEP Resources by 13.6% during the first quarter. Oslo Asset Management AS now owns 6,993,278 shares of the pipeline company’s stock valued at $54,478,000 after purchasing an additional 835,888 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of QEP Resources by 4.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 18,055,887 shares of the pipeline company’s stock valued at $101,655,000 after purchasing an additional 803,139 shares during the last quarter. 99.22% of the stock is owned by institutional investors.

QEP Resources Company Profile

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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Analyst Recommendations for QEP Resources (NYSE:QEP)

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