CIBC Reaffirms Market Perform Rating for QEP Resources (NYSE:QEP)

CIBC reaffirmed their market perform rating on shares of QEP Resources (NYSE:QEP) in a research report sent to investors on Tuesday morning, FirstToMarketsRatingsTable reports.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Diageo from GBX 3,100 ($40.51) to GBX 3,200 ($41.81) and gave the stock a neutral rating in a report on Friday, June 7th. Zacks Investment Research cut shares of Horiba from a hold rating to a sell rating in a report on Wednesday, May 22nd. Oppenheimer raised their target price on shares of Valeritas from $1.25 to $12.00 and gave the stock an outperform rating in a report on Tuesday. SunTrust Banks set a $75.00 price objective on shares of Cimarex Energy and gave the company a hold rating in a research note on Tuesday, April 23rd. Finally, Tudor Pickering cut shares of MEG Energy from a buy rating to a hold rating in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. QEP Resources has a consensus rating of Hold and an average price target of $11.09.

Shares of QEP opened at $7.06 on Tuesday. QEP Resources has a 12 month low of $5.00 and a 12 month high of $12.98. The stock’s 50 day simple moving average is $6.72. The company has a market capitalization of $1.71 billion, a PE ratio of -41.53 and a beta of 1.93. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.59 and a quick ratio of 0.59.

QEP Resources (NYSE:QEP) last announced its earnings results on Wednesday, April 24th. The pipeline company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.17. QEP Resources had a negative net margin of 60.23% and a positive return on equity of 1.91%. The company had revenue of $280.60 million for the quarter, compared to analysts’ expectations of $289.23 million. During the same period last year, the firm earned ($0.20) earnings per share. The business’s revenue for the quarter was down 34.6% on a year-over-year basis. As a group, sell-side analysts forecast that QEP Resources will post 0.52 EPS for the current year.

A number of institutional investors have recently modified their holdings of QEP. Nisa Investment Advisors LLC bought a new position in QEP Resources during the second quarter worth $262,000. Retirement Systems of Alabama increased its stake in QEP Resources by 0.6% in the second quarter. Retirement Systems of Alabama now owns 309,622 shares of the pipeline company’s stock valued at $2,239,000 after purchasing an additional 1,930 shares in the last quarter. FMR LLC increased its stake in QEP Resources by 1.8% in 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 in the last quarter. Marshall Wace LLP bought a new stake in QEP Resources in the first quarter valued at $1,927,000. Finally, TT International bought a new stake in QEP Resources in the first quarter valued at $2,338,000. Hedge funds and other institutional investors own 99.22% 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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Analyst Recommendations for QEP Resources (NYSE:QEP)

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