QEP Resources Inc (NYSE:QEP) Expected to Post Earnings of $0.06 Per Share

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.

Several analysts have recently weighed in on the company. Stephens downgraded QEP Resources from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $5.00 to $1.00 in a report on Friday, March 20th. Piper Sandler downgraded QEP Resources from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Wells Fargo & Co restated a “hold” rating on shares of QEP Resources in a research report on Thursday, March 19th. Raymond James cut QEP Resources to a “sell” rating in a research report on Tuesday, March 17th. Finally, Credit Suisse Group restated a “neutral” rating and issued a $1.00 price target on shares of QEP Resources in a research report on Thursday, March 19th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. QEP Resources has an average rating of “Hold” and a consensus price target of $5.23.

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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Earnings History and Estimates for QEP Resources (NYSE:QEP)

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