$293.18 Million in Sales Expected for QEP Resources Inc (QEP) This Quarter

Equities research analysts expect QEP Resources Inc (NYSE:QEP) to announce $293.18 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for QEP Resources’ earnings, with the highest sales estimate coming in at $325.00 million and the lowest estimate coming in at $276.00 million. QEP Resources reported sales of $428.90 million during the same quarter last year, which indicates a negative year-over-year growth rate of 31.6%. The company is scheduled to announce its next earnings results after the market closes on Wednesday, April 24th.

According to Zacks, analysts expect that QEP Resources will report full year sales of $1.27 billion for the current financial year, with estimates ranging from $1.11 billion to $1.40 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.49 billion, with estimates ranging from $1.22 billion to $2.13 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for QEP Resources.

QEP Resources (NYSE:QEP) last posted its quarterly earnings data on Wednesday, February 20th. The pipeline company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.15). The company had revenue of $410.50 million for the quarter, compared to analyst estimates of $434.58 million. QEP Resources had a negative return on equity of 0.73% and a negative net margin of 52.34%. The business’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.13 earnings per share.

A number of research firms have weighed in on QEP. ValuEngine upgraded shares of QEP Resources from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research upgraded shares of QEP Resources from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a research report on Thursday, January 17th. Raymond James set a $12.00 price objective on shares of QEP Resources and gave the stock a “buy” rating in a research report on Wednesday, January 23rd. Finally, Wells Fargo & Co restated a “hold” rating on shares of QEP Resources in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.67.

Several hedge funds and other institutional investors have recently modified their holdings of QEP. Vanguard Group Inc. grew its holdings in shares of QEP Resources by 1.2% in the third quarter. Vanguard Group Inc. now owns 21,420,121 shares of the pipeline company’s stock valued at $242,475,000 after purchasing an additional 254,888 shares during the period. Vanguard Group Inc grew its holdings in shares of QEP Resources by 1.2% in the third quarter. Vanguard Group Inc now owns 21,420,121 shares of the pipeline company’s stock valued at $242,475,000 after purchasing an additional 254,888 shares during the period. BlackRock Inc. grew its holdings in shares of QEP Resources by 3.5% in the fourth quarter. BlackRock Inc. now owns 21,413,968 shares of the pipeline company’s stock valued at $120,561,000 after purchasing an additional 727,179 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of QEP Resources by 4.7% in 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 period. Finally, Oslo Asset Management AS grew its holdings in shares of QEP Resources by 74.6% in the fourth quarter. Oslo Asset Management AS now owns 6,157,390 shares of the pipeline company’s stock valued at $34,666,000 after purchasing an additional 2,630,852 shares during the period. Institutional investors and hedge funds own 99.22% of the company’s stock.

NYSE:QEP traded down $0.18 during trading hours on Tuesday, reaching $8.03. 3,977,220 shares of the company were exchanged, compared to its average volume of 3,746,595. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $1.91 billion, a PE ratio of -47.24 and a beta of 2.14. QEP Resources has a twelve month low of $5.00 and a twelve month high of $13.77.

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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