Wilks Brothers LLC recently announced the acquisition of new stake in QEP Resources Inc. (NYSE:QEP). This fresh investment now brings its stake to 8.25% valued currently at $29.39 million. In addition, Fidelity Management & Research Co.. raised its holdings by 3.98 million to 11.46 million shares. And Key Group Holdings (Cayman) Ltd. has lifted its position by 64.99% or 2.99 million shares – to 7.59 million shares.
With over 2.83 million QEP Resources Inc. (QEP) shares trading Monday and a closing price of $1.30 on the day, the dollar volume was approximately $3.68 million. The shares have shown a positive weekly performance of 3.17% and its price on 08/31/20 lost nearly -3.70%. Currently, there are 242.30M common shares owned by the public and among those 219.67M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for QEP have a consensus price objective of $2.06. The analysts have set the share’s price value over the next 12 months at a high of $3.80 and a low of $1.00 should the stock experience a downside. Incidentally, analysts’ outlook for the QEP Resources Inc. stock is 2.80 for the next 12 months. But an upside of 65.79% will see the stock hit the forecast high price target while mean target price for the stock is $2.00.
Insiders at the company have transacted a total of 29 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 17 of these insider trades were purchases, accounting for 2,219,189 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 492,510 shares.
The top 3 mutual fund holders in QEP Resources Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Fidelity Low Priced Stock Fund. iShares Core S&P Small Cap ETF owns 15.08 million shares of the company’s stock, all valued at over $22.16 million. The company bought an additional 53886.0 shares recently to bring their total holdings to about 6.22% of the shares outstanding. Fidelity Low Priced Stock Fund bought 1.81 million shares to bring its total holdings to over 5.99 million shares at a value of $8.81 million. Fidelity Low Priced Stock Fund now owns shares totaling to 2.47% of the shares outstanding.
Shares of QEP Resources Inc. (NYSE: QEP) opened at $1.33, down -$0.02 from a prior closing price of $1.35. However, the script later closed the day at $1.30, down -3.70%. The company’s stock has a 5-day price change of 3.17% and 33.92% over the past three months. QEP shares are trading -71.11% year to date (YTD), with the 12-month market performance down to -63.48% lower. It has a 12-month low price of $0.26 and touched a high of $5.11 over the same period. Currently, 2.83 million shares have been traded, compared to an average intraday trading volume of 9.03 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.51%, -8.26%, and -33.22% respectively.
Institutional ownership of QEP Resources Inc. (NYSE: QEP) shares accounts for 65.40% of the company’s 242.30M shares outstanding. Mutual fund holders own 37.75%, while other institutional holders and individual stakeholders account for 4.25% and 34.94% respectively.
It has a market capitalization of $301.03M and a beta (3y monthly) value of 4.88. The stock’s trailing 12-month PE ratio is 1.99, while the earnings-per-share (ttm) stands at $0.65. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.16% over the week and 7.50% over the month.
Analysts forecast that QEP Resources Inc. (QEP) will achieve an EPS of $0.01 for the current quarter, $0.02 for the next quarter and -$0.47 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.08 while analysts give the company a high EPS estimate of $0.05. Comparatively, EPS for the current quarter was $0.05 a year ago. Earnings per share for the fiscal year are expected to increase by 90.40%, and -321.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate QEP Resources Inc. (QEP) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 10 of the 13 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the QEP, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on July 20, 2020, with the firm’s price target at. MKM Partners coverage for the QEP Resources Inc. (QEP) stock in a research note released on June 18, 2020 offered a Buy rating with a price target of $3. Scotiabank was of a view on April 07, 2020 that the stock is Sector Underperform, while Piper Sandler gave the stock Underweight rating on March 31, 2020, issuing a price target of $1. Stephens on their part issued Equal-Weight rating on March 20, 2020.