In a report released today, Gabriele Sorbara from Williams Capital reiterated a Buy rating on QEP Resources (QEP), with a price target of $15. The company’s shares opened today at $8.19.
According to TipRanks.com, Sorbara has 0 stars on 0-5 star ranking scale with an average return of -5.5% and a 35.4% success rate. Sorbara covers the Basic Materials sector, focusing on stocks such as Gulfport Energy Corp, Extraction Oil & Gas, and Oasis Petroleum Inc.
Currently, the analyst consensus on QEP Resources is a Strong Buy with an average price target of $16.33, a 99.4% upside from current levels. In a report issued on November 7, Oppenheimer also assigned a Buy rating to the stock.
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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 had a GAAP net loss of $3.3 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.
