JP Morgan Initiates Coverage on QEP Resources Inc to Overweight

JP Morgan Initiates Coverage on QEP Resources Inc(NYSE:QEP). The shares have been rated Overweight. The rating by JP Morgan was issued on Apr 12, 2016.

In a different note, KLR Group said it Initiates Coverage on QEP Resources Inc, according to a research note issued on Mar 16, 2016. The shares have been rated ‘Buy’ by the firm. On Jan 28, 2016, Barclays said it Maintains its rating on QEP Resources Inc. In the research note, the firm Lowers the price-target to $14.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jan 21, 2016, Deutsche Bank said it Maintains its rating on QEP Resources Inc. According to the research note, Deutsche Bank Lowers the price target to $13 per share from a prior target of $17. The shares have been rated ‘Buy’ by the firm.

QEP Resources Inc (QEP) shares turned negative on Fridays trading session with the shares closing down -0.35 points or -2.35% at a volume of 31,48,000. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.075. The peak price level was also seen at $15.075 while the days lowest was $14.46. Finally the shares closed at $14.56. The 52-week high of the shares is $24.04 while the 52-week low is $8.54. According to the latest information available, the market cap of the company is $2,574 M.

QEP Resources Inc(QEP) last announced its earnings results on Feb 24, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $468.30M. Analysts had an estimated revenue of $595.37M. Earnings per share were $-0.01. Analysts had estimated an EPS of $-0.12.

Several Insider Transactions has been reported to the SEC. On Mar 9, 2016, Christopher K Woosley (VP, GC, and Corp Secretary) sold 1,717 shares at $10.24 per share price.

QEP Resources Inc. (QEP) is a holding company with two subsidiaries QEP Energy Company and QEP Marketing Company which are engaged in two primary lines of business: oil and gas exploration and production (QEP Energy) and oil and gas marketing operation of the Haynesville Gathering System and an underground gas storage facility (QEP Marketing and Other). The Company’s operations are focused in two geographic regions: the Northern Region (primarily in Wyoming North Dakota and Utah) and the Southern Region (primarily in Texas and Louisiana) of the United States. QEP Energy Company conducts exploration and production (E&P) activities in several of North America’s hydrocarbon resource plays. QEP Marketing Company provides wholesale marketing and sales of affiliate and third-party gas oil and natural gas liquids (NGL).

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