QEP Resources Inc (NYSE:QEP) Expected to Post Quarterly Sales of $298.56 Million

Analysts forecast that QEP Resources Inc (NYSE:QEP) will report sales of $298.56 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for QEP Resources’ earnings. The lowest sales estimate is $275.00 million and the highest is $336.00 million. QEP Resources reported sales of $280.60 million in the same quarter last year, which indicates a positive year over year growth rate of 6.4%. The company is scheduled to announce its next quarterly earnings report on Wednesday, April 22nd.

On average, analysts expect that QEP Resources will report full-year sales of $1.22 billion for the current financial year, with estimates ranging from $1.04 billion to $1.37 billion. For the next fiscal year, analysts expect that the company will report sales of $1.12 billion, with estimates ranging from $797.66 million to $1.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for QEP Resources.

QEP Resources (NYSE:QEP) last announced 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). The business had revenue of $321.90 million for the quarter, compared to analysts’ expectations of $329.18 million. QEP Resources had a positive return on equity of 0.44% and a negative net margin of 8.07%.

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

NYSE QEP traded down $0.03 during trading hours on Monday, reaching $0.40. The company’s stock had a trading volume of 6,285,819 shares, compared to its average volume of 9,261,793. The firm has a market capitalization of $102.22 million, a price-to-earnings ratio of -0.97 and a beta of 2.32. QEP Resources has a 1-year low of $0.38 and a 1-year high of $8.47. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.96. The company’s 50-day moving average is $1.76 and its two-hundred day moving average is $3.18.

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were paid a $0.02 dividend. The ex-dividend date was Thursday, March 5th. This represents a $0.08 annualized dividend and a dividend yield of 20.02%.

In other news, Director Joseph N. Jaggers acquired 23,500 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $2.16 per share, with a total value of $50,760.00. Following the purchase, the director now owns 39,924 shares of the company’s stock, valued at approximately $86,235.84. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David A. Trice acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was purchased at an average cost of $2.11 per share, with a total value of $105,500.00. Insiders bought 96,864 shares of company stock valued at $207,427 over the last quarter. Insiders own 1.71% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in QEP. State Street Corp grew its stake in QEP Resources by 14.7% in the 4th quarter. State Street Corp now owns 15,043,268 shares of the pipeline company’s stock valued at $67,695,000 after buying an additional 1,924,159 shares during the last quarter. Millennium Management LLC raised its stake in shares of QEP Resources by 148.3% in the third quarter. Millennium Management LLC now owns 8,051,408 shares of the pipeline company’s stock worth $29,790,000 after acquiring an additional 4,808,694 shares during the last quarter. FMR LLC raised its stake in shares of QEP Resources by 45.2% during the fourth quarter. FMR LLC now owns 5,162,680 shares of the pipeline company’s stock worth $23,232,000 after buying an additional 1,608,300 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in QEP Resources by 22.9% during the fourth quarter. Bank of New York Mellon Corp now owns 3,943,809 shares of the pipeline company’s stock valued at $17,748,000 after purchasing an additional 735,172 shares during the period. Finally, Norges Bank acquired a new position in shares of QEP Resources in the fourth quarter valued at approximately $15,370,000.

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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