Big changes are happening at QEP Resources, Inc. (NYSE:QEP), which makes the stock worth watching today. The company is among the top losers of the stock market today, sinking -2.34% or (-0.18 points) to $7.72 from its previous close of $7.9. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 795369 contracts so far this session. QEP shares had a relatively better volume day versus average trading capacity of 3.96 million shares, but with a 0.24 billion float and a 4.91% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for QEP stock indicates that the average analyst price target is $9.94 per share. This means the stock has a potential increase of 28.76% from where the QEP share price has been trading recently which is between $7.695 and $7.92. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $8.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Were Hedge Funds Right About Flocking Into QEP Resources Inc (QEP) ?” and dated May 02, 2019.
During the recent trading session for QEP Resources, Inc. (NYSE:QEP), the company witnessed their stock rise $0.18 over a week and tumble down $-0.31 from the price 20 days ago. When compared to their established 52-week high of $13.77, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/10/18. The recent low of $5 stood for a -43.97% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.06 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for QEP Resources, Inc., the two-week RSI stands at 50.53. This figure suggests that QEP stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current QEP readings is similarly very revealing as it has a stochastic reading of 90.26% at this stage. This figure means that QEP share price today is being oversold.
Technical chart claims that QEP Resources, Inc. (QEP) would settle between $7.98/share to $8.06/share level. However, if the stock price goes below the $7.76 mark, then the market for QEP Resources, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $7.61 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.2. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at CapitalOne lowered their recommendation on shares of QEP from Overweight to Equal Weight in their opinion released on December 20. Stephens, analysts launched coverage of QEP Resources, Inc. (NYSE:QEP) stock with a Equal-Weight recommendation, according to their flash note issued to investors on December 06. Analysts at Credit Suisse released an upgrade from Underperform to Neutral for the stock, in a research note that dated back to November 20.
QEP equity has an average rating of 2.47, with the figure leaning towards a bullish end. 17 analysts who tracked the company were contacted by Reuters. Amongst them, 12 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated QEP Resources, Inc. (NYSE:QEP) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, QEP stock price is currently trading at 8.15X forward 12-month Consensus EPS estimates, and its P/S ratio is 1.31 while for the average stock in the same group, the multiple is 0.91.
QEP Resources, Inc. (QEP)’s current-quarter revenues are projected to climb by nearly -41.97% to hit $308940, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -36.25% from $1.93 billion to a noteworthy $1.23 billion. At the other end of the current quarter income statement, QEP Resources, Inc. is expected to see its adjusted earnings surge by roughly 16.67% to hit $0.07 per share. For the fiscal year, QEP’s earnings are projected to climb by roughly 364.71% to hit $0.45 per share.