QEP Resources Inc (QEP) is Upgraded by Barclays to Overweight, Raises Price Target to $ 22

QEP Resources Inc (QEP) was Upgraded by Barclays to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 22 from a previous price target of $17 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Aug 3, 2016.

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.

On the company’s financial health, QEP Resources Inc reported $-0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.36. The company had revenue of $333.70 million for the quarter, 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.

QEP Resources Inc opened for trading at $17.53 and hit $17.78 on the upside on Tusday, eventually ending the session at $17.78, with a gain of 3.25% or 0.56 points. The heightened volatility saw the trading volume jump to 63,40,195 shares. Company has a market cap of $4,260 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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