Analysts forecast that QEP Resources Inc (NYSE:QEP) will announce sales of $302.75 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for QEP Resources’ earnings, with the lowest sales estimate coming in at $280.00 million and the highest estimate coming in at $325.00 million. QEP Resources reported sales of $532.40 million during the same quarter last year, which indicates a negative year-over-year growth rate of 43.1%. The business is expected to announce its next quarterly earnings report on Wednesday, July 24th.
According to Zacks, analysts expect that QEP Resources will report full year sales of $1.21 billion for the current fiscal year, with estimates ranging from $1.03 billion to $1.30 billion. For the next year, analysts anticipate that the firm will post sales of $1.52 billion, with estimates ranging from $1.22 billion to $2.04 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow QEP Resources.
QEP Resources (NYSE:QEP) last issued its earnings results on Wednesday, April 24th. The pipeline company reported $0.15 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.17. QEP Resources had a positive return on equity of 1.91% and a negative net margin of 60.23%. The company had revenue of $280.60 million during the quarter, compared to analyst estimates of $289.23 million. During the same quarter last year, the firm earned ($0.20) EPS. The business’s revenue was down 34.6% on a year-over-year basis.
Several brokerages recently weighed in on QEP. SunTrust Banks set a $75.00 target price on Cimarex Energy and gave the company a “hold” rating in a research note on Tuesday, April 23rd. ValuEngine lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. CIBC reduced their price target on Crew Energy from C$1.50 to C$1.00 in a research report on Tuesday, July 9th. Tudor Pickering downgraded MEG Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 7th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of SM Energy in a research report on Friday, April 12th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $10.73.
Shares of QEP Resources stock traded down $0.17 on Wednesday, reaching $5.15. 7,655,739 shares of the company were exchanged, compared to its average volume of 5,279,686. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -30.29 and a beta of 1.94. QEP Resources has a fifty-two week low of $5.00 and a fifty-two week high of $12.33. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.59 and a quick ratio of 0.59. The business has a fifty day simple moving average of $6.60.
Institutional investors and hedge funds have recently made changes to their positions in the company. Mengis Capital Management Inc. purchased a new position in QEP Resources in the 2nd quarter worth about $607,000. CWM Advisors LLC boosted its stake in QEP Resources by 36.7% in the 2nd quarter. CWM Advisors LLC now owns 29,951 shares of the pipeline company’s stock worth $217,000 after purchasing an additional 8,046 shares in the last quarter. Clear Street Markets LLC purchased a new position in QEP Resources during the 2nd quarter worth approximately $145,000. Nisa Investment Advisors LLC purchased a new position in QEP Resources during the 2nd quarter worth approximately $262,000. Finally, Retirement Systems of Alabama increased its holdings in shares of QEP Resources by 0.6% during the 2nd 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. 99.22% of the stock is currently owned by institutional investors and hedge funds.
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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