Stocks to Watch For: QEP Resources, Inc. (NYSE:QEP)


QEP Resources, Inc. (NYSE:QEP) added 15.99% and closed its last session at $19.66. The stock has the market capitalization of $4.71 Billion with the total outstanding shares of 239.56 Million. QEP Resources, Inc.. has Analysts’ Mean Recommendation of 1.53 between the scale of 1 to 5 (1 represents Strong Buy and 5 means Sell). The stock currently has P/E of 0 for trailing twelve months while its Forward P/E is 0.

QEP Resources, Inc. (NYSE:QEP) touched its 52-Week High of $20.96 on Jun 8, 2016 while it’s 52-Week Low of $8.54 on Jan 20, 2016. The company currently has Return on Assets of -15.1 percent, Return on Equity of -31.3% and Return on Investment of -4.6 percent. The stock currently showing Weekly Volatility of 5.40%% and Monthly Volatility of 4.36% Percent with Average True Range of 0.91 and Beta of 1.89.

The 18 analysts offering 12-month price forecasts for QEP Resources Inc have a median target of 23.50, with a high estimate of 34.00 and a low estimate of 20.00. The median estimate represents a +19.53% increase from the last price of 19.66.

Press Release:

The Company on 3 November declared that it has reached agreement with one of its third-party midstream providers to resolve a commercial dispute and amend the agreement (the “Amendment”) under which the associated gas produced from the Company’s South Antelope acreage is purchased, gathered and processed (the “Existing Gas Purchase Agreement”). The Amendment extends the Existing Gas Purchase Agreement ten years beyond the original term, includes a fixed fee for services and provides for increased capacity. In addition, the parties have agreed to dismiss the arbitration proceedings and release each other from all claims arising under the Existing Gas Purchase Agreement.

At the end of the third quarter 2016, the Company had 23 gross operated horizontal wells on its South Antelope acreage waiting on completion. The Company expects to begin completing these wells during November 2016 and expects the completion activity of these wells to continue into early 2017. Due to the timing of the completions, the Company does not believe these wells will add material oil volumes in 2016, and as such, the Company is not revising oil, natural gas and NGL production guidance provided in its third quarter 2016 Earnings Release dated October 26, 2016.

Company Profile:

QEP Resources is a leading independent natural gas and oil exploration and production company. The Company’s operations are focused in the Rocky Mountain and Midcontinent regions of the United States. The Company also gathers, compresses, treats, and processes natural gas. QEP Resources, Inc. is based in Denver, Colorado.