Wall Street brokerages forecast that QEP Resources Inc (NYSE:QEP) will announce $0.06 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have provided estimates for QEP Resources’ earnings, with estimates ranging from ($0.02) to $0.14. QEP Resources posted earnings per share of $0.15 during the same quarter last year, which indicates a negative year over year growth rate of 60%. The company is scheduled to announce its next earnings results on Wednesday, April 22nd.
According to Zacks, analysts expect that QEP Resources will report full-year earnings of $0.36 per share for the current fiscal year, with EPS estimates ranging from $0.09 to $0.66. For the next financial year, analysts forecast that the business will post earnings of $0.00 per share, with EPS estimates ranging from ($0.50) to $0.56. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover QEP Resources.
QEP Resources (NYSE:QEP) last posted its earnings results on Wednesday, February 26th. The pipeline company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.18). QEP Resources had a negative net margin of 8.07% and a positive return on equity of 0.44%. The firm had revenue of $321.90 million during the quarter, compared to analysts’ expectations of $329.18 million.
In other QEP Resources news, Director Joseph N. Jaggers bought 23,500 shares of the company’s stock in a transaction on Friday, February 28th. The shares were bought at an average price of $2.16 per share, for a total transaction of $50,760.00. Following the transaction, the director now owns 39,924 shares of the company’s stock, valued at approximately $86,235.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy J. Cutt bought 23,364 shares of the company’s stock in a transaction on Friday, February 28th. The shares were acquired at an average price of $2.19 per share, for a total transaction of $51,167.16. Following the transaction, the chief executive officer now directly owns 252,141 shares in the company, valued at approximately $552,188.79. The disclosure for this purchase can be found here. Insiders purchased a total of 96,864 shares of company stock worth $207,427 in the last 90 days. 1.71% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QEP. FMR LLC increased its position in QEP Resources by 1.8% during the 1st quarter. FMR LLC now owns 2,252,517 shares of the pipeline company’s stock worth $17,547,000 after purchasing an additional 40,383 shares during the period. California Public Employees Retirement System increased its position in QEP Resources by 9.2% during the 3rd quarter. California Public Employees Retirement System now owns 588,383 shares of the pipeline company’s stock worth $2,177,000 after purchasing an additional 49,700 shares during the period. Russell Investments Group Ltd. increased its position in QEP Resources by 100.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 40,932 shares of the pipeline company’s stock worth $152,000 after purchasing an additional 20,544 shares during the period. First Trust Advisors LP increased its position in QEP Resources by 48.1% during the 3rd quarter. First Trust Advisors LP now owns 1,101,290 shares of the pipeline company’s stock worth $4,075,000 after purchasing an additional 357,568 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in QEP Resources by 439.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 17,668 shares of the pipeline company’s stock worth $66,000 after purchasing an additional 14,394 shares during the period.
Shares of QEP Resources stock traded down $0.03 on Friday, hitting $0.40. The stock had a trading volume of 6,285,819 shares, compared to its average volume of 9,261,793. QEP Resources has a 52-week low of $0.38 and a 52-week high of $8.47. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The stock has a market cap of $102.22 million, a price-to-earnings ratio of -0.97 and a beta of 2.32. The company’s 50 day moving average price is $1.76 and its 200 day moving average price is $3.18.
The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 20.02%. The ex-dividend date was Thursday, March 5th.
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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