Could QEP Resources, Inc. (QEP) Change Direction After This Bullish Double Top Chart Pattern

August 9, 2018 - By Billy Entrekin

Investors sentiment decreased to 0.9 in 2018 Q1. Its down 0.13, from 1.03 in 2017Q4. It dived, as 32 investors sold QEP Resources, Inc. shares while 91 reduced holdings. 46 funds opened positions while 65 raised stakes. 227.66 million shares or 9.75% more from 207.43 million shares in 2017Q4 were reported.
Vr Advisory Limited holds 88,100 shares or 0.45% of its portfolio. Gamco Investors Incorporated Et Al, a New York-based fund reported 24,000 shares. Swiss Bankshares invested 0% in QEP Resources, Inc. (NYSE:QEP). Bbva Compass Fincl Bank invested in 0.02% or 37,005 shares. Marshall Wace Llp owns 62,892 shares for 0.03% of their portfolio. Mutual Of America Cap Mgmt Limited Liability Co reported 196,228 shares. Suntrust Banks Inc owns 0.01% invested in QEP Resources, Inc. (NYSE:QEP) for 83,342 shares. Parallax Volatility Advisers L P invested in 0% or 610 shares. Aristotle Capital Boston Llc has 0.44% invested in QEP Resources, Inc. (NYSE:QEP) for 955,348 shares. Smith Asset Management Grp Inc L P reported 2,530 shares. 25,080 were reported by First Mercantile Tru Company. Fincl Bank Of America De holds 0% or 2.92 million shares in its portfolio. Louisiana State Employees Retirement Sys invested 0.03% in QEP Resources, Inc. (NYSE:QEP). Gru One Trading Limited Partnership, a Illinois-based fund reported 99,031 shares. South Dakota Council invested in 210,000 shares.

Since March 8, 2018, it had 1 insider buy, and 0 insider sales for $90,000 activity.

The chart of QEP Resources, Inc. (QEP) shows a double top with $10.24 target or 3.00 % above today’s $9.94 share price. The 8 months chart pattern indicates low risk for the $2.36B company. It was reported on Aug, 9 by Finviz.com. If the $10.24 price target is reached, the company will be worth $70.68M more. Double tops are rare but powerful chart patterns.

The stock decreased 3.78% or $0.39 during the last trading session, reaching $9.94. About 4.55 million shares traded or 5.72% up from the average. QEP Resources, Inc. (NYSE:QEP) has risen 16.36% since August 9, 2017 and is uptrending. It has outperformed by 3.79% the S&P500.

Analysts await QEP Resources, Inc. (NYSE:QEP) to report earnings on October, 24. They expect $-0.01 earnings per share, up 90.00 % or $0.09 from last year’s $-0.1 per share. After $0.06 actual earnings per share reported by QEP Resources, Inc. for the previous quarter, Wall Street now forecasts -116.67 % negative EPS growth.

QEP Resources, Inc. (NYSE:QEP) Ratings Coverage

Among 11 analysts covering QEP Resources (NYSE:QEP), 5 have Buy rating, 1 Sell and 5 Hold. Therefore 45% are positive. QEP Resources had 15 analyst reports since March 1, 2018 according to SRatingsIntel. As per Monday, June 11, the company rating was maintained by FBR Capital. The firm has “Hold” rating by SunTrust given on Monday, April 16. Stifel Nicolaus maintained QEP Resources, Inc. (NYSE:QEP) on Monday, April 23 with “Buy” rating. The stock has “Hold” rating by Stephens on Tuesday, April 24. The firm has “Hold” rating by FBR Capital given on Friday, March 9. Williams Capital Group maintained QEP Resources, Inc. (NYSE:QEP) rating on Thursday, April 26. Williams Capital Group has “Buy” rating and $1600 target. JP Morgan maintained the shares of QEP in report on Tuesday, April 24 with “Neutral” rating. Piper Jaffray maintained the stock with “Buy” rating in Wednesday, March 14 report. Williams Capital Group maintained it with “Buy” rating and $18.0 target in Thursday, March 1 report. Credit Suisse maintained the shares of QEP in report on Thursday, July 26 with “Underperform” rating.

Another recent and important QEP Resources, Inc. (NYSE:QEP) news was published by Fool.com which published an article titled: “Why QEP Resources Inc’s Stock Is Plunging Today” on July 26, 2018.

QEP Resources, Inc., through its subsidiaries, operates as a natural gas and crude oil exploration and production firm in the United States. The company has market cap of $2.36 billion. The firm conducts exploration and production activities in the Williston Basin in North Dakota, Permian Basin in western Texas; Pinedale Anticline in western Wyoming; Uinta Basin in eastern Utah; Haynesville/Cotton Valley in northwestern Louisiana; and other proven properties in Wyoming, Utah, and Colorado. It currently has negative earnings. As of December 31, 2016, it had estimated proved reserves of 731.4 MMboe.

QEP Resources, Inc. (NYSE:QEP) Institutional Positions Chart

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