Piper Sandler Brokers Boost Earnings Estimates for QEP Resources Inc (NYSE:QEP)

QEP Resources Inc (NYSE:QEP) – Investment analysts at Piper Sandler lifted their Q1 2020 EPS estimates for QEP Resources in a research note issued on Monday, January 13th. Piper Sandler analyst K. Harrison now expects that the pipeline company will post earnings of $0.14 per share for the quarter, up from their previous forecast of $0.09. Piper Sandler also issued estimates for QEP Resources’ Q2 2020 earnings at $0.14 EPS, Q3 2020 earnings at $0.17 EPS, Q4 2020 earnings at $0.16 EPS, Q1 2021 earnings at $0.18 EPS, Q2 2021 earnings at $0.15 EPS, Q3 2021 earnings at $0.16 EPS and Q4 2021 earnings at $0.15 EPS.

QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, October 23rd. The pipeline company reported $0.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. QEP Resources had a positive return on equity of 0.30% and a negative net margin of 47.59%. The business had revenue of $307.50 million during the quarter, compared to analysts’ expectations of $295.03 million. During the same quarter last year, the business posted $0.17 earnings per share. The company’s quarterly revenue was down 45.2% on a year-over-year basis.

Other research analysts have also recently issued research reports about the company. ValuEngine raised QEP Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Stephens raised QEP Resources from an “equal” rating to an “overweight” rating and set a $7.00 target price for the company in a research note on Wednesday, October 30th. Williams Capital raised QEP Resources from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research note on Thursday, October 24th. Finally, Piper Jaffray Companies raised QEP Resources from a “neutral” rating to an “overweight” rating and upped their target price for the company from $3.50 to $6.00 in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $7.67.

Shares of QEP stock opened at $4.02 on Wednesday. The stock has a 50-day simple moving average of $3.97 and a 200 day simple moving average of $4.20. QEP Resources has a fifty-two week low of $2.58 and a fifty-two week high of $9.01. The stock has a market capitalization of $967.81 million, a P/E ratio of -23.65 and a beta of 2.12. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.75.

Several hedge funds and other institutional investors have recently made changes to their positions in QEP. FMR LLC lifted its holdings in shares of QEP Resources by 1.8% during the first quarter. FMR LLC now owns 2,252,517 shares of the pipeline company’s stock valued at $17,547,000 after purchasing an additional 40,383 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of QEP Resources by 16.0% during the second quarter. Prudential Financial Inc. now owns 158,313 shares of the pipeline company’s stock valued at $1,145,000 after purchasing an additional 21,886 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of QEP Resources by 46.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,676,369 shares of the pipeline company’s stock valued at $12,121,000 after purchasing an additional 533,086 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of QEP Resources by 19.6% during the second quarter. Bank of New York Mellon Corp now owns 3,141,930 shares of the pipeline company’s stock valued at $22,716,000 after purchasing an additional 515,414 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of QEP Resources by 8.6% during the second quarter. Northern Trust Corp now owns 2,148,052 shares of the pipeline company’s stock valued at $15,531,000 after purchasing an additional 170,193 shares during the last quarter. 99.77% of the stock is owned by institutional investors and hedge funds.

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

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