What’s QEP Resources, Inc. (QEP) Upside After Forming Bullish Double Top Pattern?

August 9, 2018 - By Matthew Richard

Investors sentiment decreased to 0.9 in Q1 2018. Its down 0.13, from 1.03 in 2017Q4. It worsened, 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.
Price T Rowe Associates Md has invested 0% in QEP Resources, Inc. (NYSE:QEP). Hbk Investments Lp owns 419,153 shares. Nomura Hldgs reported 1.31M shares stake. Moreover, Brandywine Glob Mgmt Ltd Limited Liability Company has 0.03% invested in QEP Resources, Inc. (NYSE:QEP). Cornerstone owns 160 shares. 58,615 are owned by Federated Pa. Ubs Asset Americas owns 282,922 shares for 0% of their portfolio. New York-based Van Eck Associates has invested 0% in QEP Resources, Inc. (NYSE:QEP). Rafferty Asset Management Limited Liability Company owns 0.01% invested in QEP Resources, Inc. (NYSE:QEP) for 62,570 shares. Tudor Invest Et Al invested in 57,466 shares or 0.02% of the stock. Voya Mgmt Limited Co reported 0.04% in QEP Resources, Inc. (NYSE:QEP). Amundi Pioneer Asset Management accumulated 0% or 25,285 shares. Amalgamated Natl Bank has 0.01% invested in QEP Resources, Inc. (NYSE:QEP) for 46,009 shares. Jabre Cap Prns holds 0.05% or 24,000 shares in its portfolio. Moreover, Tocqueville Asset Management L P has 0% invested in QEP Resources, Inc. (NYSE:QEP).

Since March 8, 2018, it had 1 buying transaction, and 0 selling transactions for $90,000 activity.

The chart of QEP Resources, Inc. (QEP) shows a double top with $10.54 target or 6.00 % above today’s $9.94 share price. The 6 months chart pattern indicates low risk for the $2.36B company. It was reported on Aug, 9 by Finviz.com. If the $10.54 price target is reached, the company will be worth $141.36M 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 4.55M 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. BMO Capital Markets maintained it with “Buy” rating and $1100 target in Wednesday, April 11 report. Williams Capital Group maintained the stock with “Buy” rating in Thursday, April 26 report. The stock of QEP Resources, Inc. (NYSE:QEP) has “Buy” rating given on Monday, May 21 by Williams Capital Group. As per Friday, March 9, the company rating was maintained by FBR Capital. The stock has “Neutral” rating by JP Morgan on Tuesday, April 24. The rating was maintained by Piper Jaffray with “Buy” on Wednesday, March 14. Stifel Nicolaus maintained the shares of QEP in report on Monday, April 23 with “Buy” rating. Stephens maintained QEP Resources, Inc. (NYSE:QEP) rating on Tuesday, April 24. Stephens has “Hold” rating and $1200 target. Williams Capital Group maintained QEP Resources, Inc. (NYSE:QEP) on Thursday, March 1 with “Buy” rating. The firm has “Underperform” rating given on Thursday, July 26 by Credit Suisse.

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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