Barclays Upgrades QEP Resources Inc to Overweight with Price Target $22.00

Brokerage firm Barclays Upgrades its rating on QEP Resources Inc(NYSE:QEP). In a research note issued to the investors, the brokerage major Raises the price-target to $22.00 per share. The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Barclays was issued on Aug 3, 2016.

In a different note, On Jul 18, 2016, BMO Capital said it Upgrades its rating on QEP Resources Inc. The shares have been rated ‘Outperform’ by the firm. On Jul 14, 2016, Barclays said it Maintains its rating on QEP Resources Inc. In the research note, the firm Raises the price-target to $13.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jun 15, 2016, Piper Jaffray said it Upgrades its rating on QEP Resources Inc. The shares have been rated ‘Overweight’ by the firm. On Jun 14, 2016, Deutsche Bank said it Maintains its rating on QEP Resources Inc. In the research note, the firm Raises the price-target to $22.00 per share. The shares have been rated ‘Buy’ by the firm. Drexel Hamilton said it Initiates Coverage on QEP Resources Inc, according to a research note issued on Jun 8, 2016. 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 -0.04 points or -0.21% at a volume of 24,62,197. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $19.49. The peak price level was also seen at $19.49 while the days lowest was $18.97. Finally the shares closed at $19.15. The 52-week high of the shares is $20.96 while the 52-week low is $8.54. According to the latest information available, the market cap of the company is $4,588 M.

QEP Resources Inc(QEP) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $333.70M. Analysts had an estimated revenue of $357.77M. Earnings per share were $-0.23. Analysts had estimated an EPS of $-0.37.

Several Insider Transactions has been reported to the SEC. On Jun 30, 2016, Charles B Stanley (CEO) purchased 16,763 shares at $17.85 per share price.Also, 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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