QEP Resources’ (QEP) “Buy” Rating Reiterated at KLR Group

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QEP Resources (NYSE:QEP)‘s stock had its “buy” rating restated by investment analysts at KLR Group in a research report issued to clients and investors on Monday. They currently have a $14.00 price objective on the pipeline company’s stock. KLR Group’s price target would suggest a potential upside of 43.59% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Williams Capital reiterated a “buy” rating and issued a $18.00 price objective on shares of QEP Resources in a research report on Monday, July 23rd. JPMorgan Chase & Co. lifted their price objective on shares of QEP Resources from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, April 24th. Tudor Pickering downgraded shares of QEP Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Stifel Nicolaus set a $19.00 price objective on shares of QEP Resources and gave the company a “buy” rating in a research report on Tuesday, April 24th. Finally, Credit Suisse Group dropped their price target on shares of QEP Resources from $12.00 to $11.00 and set an “underperform” rating on the stock in a research report on Thursday, July 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. QEP Resources has a consensus rating of “Hold” and an average target price of $13.00.

Shares of NYSE:QEP opened at $9.75 on Monday. The stock has a market capitalization of $2.20 billion, a P/E ratio of 12.66 and a beta of 1.38. QEP Resources has a fifty-two week low of $7.04 and a fifty-two week high of $13.77. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.34 and a current ratio of 0.34.

QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, July 25th. The pipeline company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.18. The firm had revenue of $532.40 million for the quarter, compared to the consensus estimate of $434.12 million. QEP Resources had a negative net margin of 13.63% and a positive return on equity of 5.96%. QEP Resources’s quarterly revenue was up 38.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) EPS. research analysts expect that QEP Resources will post -0.13 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. CastleArk Alternatives LLC bought a new stake in shares of QEP Resources during the 2nd quarter worth about $113,000. KBC Group NV bought a new stake in shares of QEP Resources during the 1st quarter worth about $116,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of QEP Resources during the 1st quarter worth about $126,000. M&T Bank Corp raised its position in shares of QEP Resources by 44.3% during the 1st quarter. M&T Bank Corp now owns 14,730 shares of the pipeline company’s stock worth $144,000 after buying an additional 4,524 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of QEP Resources by 80.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,142 shares of the pipeline company’s stock worth $161,000 after buying an additional 5,858 shares in the last quarter. Institutional investors own 93.97% of the company’s stock.

About QEP Resources

QEP Resources, Inc, through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the United States. The company conducts exploration and production activities in the Permian Basin in western Texas, Williston Basin in North Dakota, Haynesville/Cotton Valley in northwestern Louisiana, Uinta Basin in eastern Utah, and other proven properties in Wyoming, Utah, and Colorado.

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Analyst Recommendations for QEP Resources (NYSE:QEP)

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