QEP Resources Inc (QEP) Releases Earnings Results, Beats Expectations By $0.13 EPS

QEP Resources Inc (QEP) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $-0.23 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $-0.36. The company posted revenue of $333.70 million in the period, compared to analysts expectations of $353.57 million. The company’s revenue was down -41.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.09 EPS.

Many Wall Street Analysts have commented on QEP Resources Inc. FBR Capital Initiated QEP Resources Inc on Jul 21, 2016 to “Mkt Perform”, Price Target of the shares are set at $19.QEP Resources Inc was Upgraded by Piper Jaffray to ” Overweight” on Jun 15, 2016. Drexel Hamilton Initiated QEP Resources Inc on Jun 8, 2016 to “Buy”, Price Target of the shares are set at $33.

QEP Resources Inc opened for trading at $16.75 and hit $17.68 on the upside on Thursday, eventually ending the session at $17.42, with a gain of 4.00% or 0.67 points. The heightened volatility saw the trading volume jump to 68,87,574 shares. Company has a market cap of $3,776 M.

In a different news, on Jun 30, 2016, Charles B Stanley (CEO) purchased 16,763 shares at $17.85 per share price. According 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).

QEP Resources Inc

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