Equities research analysts forecast that QEP Resources Inc (NYSE:QEP) will announce sales of $290.20 million for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for QEP Resources’ earnings. The lowest sales estimate is $276.00 million and the highest is $308.74 million. QEP Resources posted sales of $428.90 million during the same quarter last year, which suggests a negative year over year growth rate of 32.3%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, April 24th.

On average, analysts expect that QEP Resources will report full-year sales of $1.28 billion for the current financial year, with estimates ranging from $1.16 billion to $1.43 billion. For the next financial year, analysts expect that the business will post sales of $1.50 billion, with estimates ranging from $1.22 billion to $2.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow QEP Resources.

QEP Resources (NYSE:QEP) last issued its quarterly earnings data on Wednesday, February 20th. The pipeline company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). QEP Resources had a negative return on equity of 0.73% and a negative net margin of 52.34%. The business had revenue of $410.50 million during the quarter, compared to analysts’ expectations of $434.58 million. During the same period in the previous year, the business earned $1.13 earnings per share. The business’s quarterly revenue was down 4.3% on a year-over-year basis.

A number of brokerages have commented on QEP. ValuEngine raised shares of QEP Resources from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. SunTrust Banks set a $8.00 price objective on shares of QEP Resources and gave the stock a “hold” rating in a research note on Tuesday. Zacks Investment Research raised shares of QEP Resources from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a research note on Thursday, January 17th. Raymond James set a $12.00 price target on shares of QEP Resources and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Finally, Wells Fargo & Co reaffirmed a “hold” rating on shares of QEP Resources in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.31.

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its holdings in QEP Resources by 1.2% during the 3rd quarter. Vanguard Group Inc now owns 21,420,121 shares of the pipeline company’s stock valued at $242,475,000 after buying an additional 254,888 shares in the last quarter. Perella Weinberg Partners Capital Management LP lifted its holdings in QEP Resources by 1,100.5% during the 4th quarter. Perella Weinberg Partners Capital Management LP now owns 688,797 shares of the pipeline company’s stock valued at $3,878,000 after buying an additional 631,419 shares in the last quarter. United Services Automobile Association lifted its holdings in QEP Resources by 4.0% during the 4th quarter. United Services Automobile Association now owns 45,063 shares of the pipeline company’s stock valued at $254,000 after buying an additional 1,733 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in QEP Resources by 1.7% during the 3rd quarter. Mackenzie Financial Corp now owns 2,907,500 shares of the pipeline company’s stock valued at $32,913,000 after buying an additional 50,000 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. lifted its holdings in QEP Resources by 1.5% during the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 589,205 shares of the pipeline company’s stock valued at $3,317,000 after buying an additional 8,685 shares in the last quarter. 99.22% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:QEP traded up $0.14 on Tuesday, reaching $8.22. The company’s stock had a trading volume of 2,935,751 shares, compared to its average volume of 5,577,264. QEP Resources has a 52-week low of $5.00 and a 52-week high of $13.77. The stock has a market capitalization of $1.94 billion, a P/E ratio of -48.35 and a beta of 2.14. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.91.

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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