Williams Capital Downgrades QEP Resources (QEP) to Hold


In a report released today, Gabriele Sorbara from Williams Capital downgraded QEP Resources (QEP) to Hold, with a price target of $8.75. The company’s shares opened today at $8.42.

According to TipRanks.com, Sorbara ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -11.0% and a 32.3% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.

QEP Resources has an analyst consensus of Moderate Buy, with a price target consensus of $12.40.

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Based on QEP Resources’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $7.3 million. In comparison, last year the company earned revenue of $429 million and had a net profit of $150 million.

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QEP Resources, Inc. is a holding company, which engages in the exploration and production of oil and natural gas properties. It focuses in the Northern Region (primarily in North Dakota, Wyoming and Utah) and the Southern Region (primarily in Texas and Louisiana) geographical regions. The company was founded in 1922 and is headquartered in Denver, CO.

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