QEP Resources, Inc.
 (QEP)

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  • Today, 2:37 PM
    • Whiting Petroleum (WLL -8.9%) may have received the toughest treatment from Moody's, but the ratings agency downgrades a total of eight of companies as part of a sweeping re-examination of oil and gas producers.
    • The ratings affected companies rated Ba, or the first tier of debt Moody’s considers risky enough to be a speculative investment.
    • While Moody's cut WLL's debt rating by five notches, SM Energy (SM -1.2%) and WPX Energy (WPX +3.5%) both fell four notches to B2 from Ba1, and cites the likelihood of a "dramatic increase in financial leverage in 2017” with SM's cut.
    • QEP Resources (QEP -0.5%) and Energen (EGN -11.6%) fell three notches to B1 from Ba1.
    • Unit Corp. (UNT +2%) fell two notches to B2 from Ba3, which Range Resources (RRC +0.7%) and Newfield Exploration (NFX +2.7%) both slipped to Ba3 from Ba1.
    • Ratings for Antero Resources (AR +2.7%) and Concho Resources (CXO +2.2%) were confirmed at Ba2 and Ba1, respectively.
    | Today, 2:37 PM | 2 Comments
  • Dec. 16, 2015, 2:31 PM
    • Moody's says it is reviewing 29 E&P companies from the U.S. and seven from Canada for a potential downgrade, saying the companies "will be stressed for a longer period with much lower cash flows, difficulty selling assets and limited capital markets access."
    • Based on the severity and potential duration of the industry challenges, Moody's expects many companies will be downgraded one notch and others could be lowered by more than one notch.
    • Yesterday, the ratings agency cut its oil and gas price assumptions in light of continuing oversupply in the global oil markets and the U.S. natural gas market.
    • Among the U.S. companies: APC, AR, APA, XEC, CXO, COP, CLR, DNR, EGN, EOG, EPE, EQT, HES, MRO, MUR, NFG, NFX, NBL, OXY, PXD, QEP, RRC, SM, SWN, UNT, WLL, WPX
    • From Canada: BTE, CNQ, OTCQX:COSWF, CVE, ECA, OTCPK:HUSKF, SU
    | Dec. 16, 2015, 2:31 PM | 36 Comments
  • Nov. 19, 2015, 12:55 PM
    • QEP Resources (QEP -2.1%) is lower despite Goldman Sachs' upgrade to Buy from Neutral with a $19 price target, as the firm thinks improved assets will drive oil growth.
    • QEP shares have consistently lagged peers by 20% over the past five years, but Goldman sees QEP outperforming going forward as its improved asset quality via acquisitions over the past few years should drive differentiated organic growth in 2016.
    • The firm believes investors will place a greater value on QEP’s historical strength - clean balance sheet and low cash flow multiples - in the current depressed commodity environment.
    | Nov. 19, 2015, 12:55 PM | 4 Comments
  • Oct. 28, 2015, 4:48 PM
    • QEP Resources (NYSE:QEP): Q3 EPS of $0.01 beats by $0.11.
    • Revenue of $536.7M (-41.0% Y/Y) misses by $103.1M.
    | Oct. 28, 2015, 4:48 PM
  • Oct. 27, 2015, 5:35 PM
  • Oct. 26, 2015, 4:23 PM
    • QEP Resources (NYSE:QEP) declares $0.02/share quarterly dividend, in line with previous.
    • Forward yield 0.56%
    • Payable Dec. 7; for shareholders of record Nov. 17; ex-div Nov. 13.
    | Oct. 26, 2015, 4:23 PM
  • Sep. 8, 2015, 2:56 PM
    • Energy E&P companies could suffer ~50% downside to 2017 consensus estimates, Cowen analysts say as they downgrade two-third of their portfolio coverage in the sector amid a weak oil price environment.
    • The firm cuts capital spending estimates for several names in the sector, which in turn cuts production and cash flow estimates, the firm says as it lowers its 2016 production and operating cash flow estimates by a respective 4% and 35% below consensus view; by 2017, it sees 10% downside to consensus production estimates and 51% downside to consensus cash flow estimates.
    • Downgraded to Underperform from Market Perform: BBG, BCEI, CWEI, DNR, NOG.
    • Downgraded to Market Perform from Outperform: CPE, FANG, PDCE, PE, SYRG.
    • Maintained at Market perform: AXAS, EGN
    • Maintained at Outperform: OAS, QEP, WLL
    | Sep. 8, 2015, 2:56 PM | 13 Comments
  • Aug. 25, 2015, 7:05 PM
    • Dividends of oil E&P companies such as Exxon Mobil (NYSE:XOM), Chevron (NYSE:CVX), Anadarko Petroleum (NYSE:APC) and Occidental Petroleum (NYSE:OXY) are “mostly safe" in the shaky commodity landscape despite Chesapeake Energy’s decision to suspend its payout, says Raymond James' Pavel Molchanov and his analyst team.
    • Although the firm projects only one company - APC - out of 18 to fully cover the 2016 dividend payout out of cash flow at strip pricing, dividends likely will not be cut since "all the companies that have a healthy balance sheet today should still have a healthy balance sheet at the end of 2016, even if they maintain the current dividend."
    • The only dividend payers with a current net debt/cap ratio above 50% are DNR and CRC - a red flag, but both companies’ dividend payouts represent quite small amounts of outlays relative to cash flow, the firm says, adding that the only companies whose leverage is likely to be lower at year-end 2016 than it was in Q2 2015 are HES and QEP.
    • Among large-caps, the highest current leverage is at APC, at 45%, and NBL, at 38%, while the companies with the lowest current leverage are CVX, OXY and XOM, all at 15% or lower.
    | Aug. 25, 2015, 7:05 PM | 87 Comments
  • Aug. 4, 2015, 2:59 PM
    • QEP Resources (QEP +4.2%) rallies after posting a surprise Q2 profit even as revenues fell by nearly a third compared with year-ago levels.
    • QEP's Q2 crude oil production gained 9% Q/Q, natural gas production rose 4% Q/Q, and natural gas liquids jumped 26%, boosted by a strong early performance of its first set of high-density infill development wells at South Antelope in the Williston Basin.
    • QEP upwardly revised its full-year production guidance to 297B-315B cfe from an earlier outlook for 291B-312B cfe, as expected oil production is now seen at 18M-19B bbl from an earlier 17M-18.5M bbl.
    • Prior to today's advance, the stock had lost slightly more than half its former value over the past 12 months.
    | Aug. 4, 2015, 2:59 PM
  • Aug. 3, 2015, 5:37 PM
    | Aug. 3, 2015, 5:37 PM
  • Aug. 3, 2015, 4:18 PM
    • QEP Resources (NYSE:QEP): Q2 EPS of $0.09 beats by $0.19.
    • Revenue of $608.6M (-31.4% Y/Y) beats by $51.68M.
    | Aug. 3, 2015, 4:18 PM
  • Aug. 2, 2015, 5:35 PM
  • Jul. 28, 2015, 5:50 AM
    • QEP Resources (NYSE:QEP) declares $0.02/share quarterly dividend, in line with previous.
    • Forward yield 0.62%
    • Payable Sept. 4; for shareholders of record Aug. 18; ex-div Aug. 14.
    | Jul. 28, 2015, 5:50 AM
  • Jun. 16, 2015, 5:45 PM
    • The strained finances at U.S. E&P shale companies caused by collapsing crude oil prices is well known, and some analysts say the pain may be compounded by a steep drop in prices for natural gas liquids caused by oversupply, partly due to infrastructure constraints.
    • SM Energy (NYSE:SM) said yesterday the price it is receiving for NGLs at the Mont Belvieu delivery point fell 36% Q/Q to $16.67/bbl and that the price declines would lower its 2015 total budgeted revenue by ~$25M while not affecting its drilling or production.
    • Barclays recently said Chesapeake Energy (NYSE:CHK) could see 2016 cash flow cut by up to 3% if NGL price weakness persists, while Range Resources (NYSE:RRC) may see its cash flow cut by up to 5%; APC, DVN, PXD, QEP, SWN, ECA and EOG also could see reduced cash flow related to NGL pricing, the firm said.
    • Analysts at Tudor Pickering have a more optimistic view and expect an NGL pricing recovery next year, as cresting U.S. nat gas and crude production looks to be flat-to-declining through 2016, giving U.S. infrastructure time to catch up; the firm upgrades SWN to Accumulate from Hold, with GPOR, MRD, COG, RICE and ECA as other top picks, and UPL and EQT recommended on weakness.
    • ETFs: UNG, UGAZ, DGAZ, BOIL, GAZ, KOLD, UNL, DCNG
    | Jun. 16, 2015, 5:45 PM | 32 Comments
  • May 11, 2015, 5:35 PM
    • QEP Resources (NYSE:QEP) declares $0.02/share quarterly dividend, in line with previous.
    • Forward yield 0.39%
    • Payable June 5; for shareholders of record May 26; ex-div May 21.
    | May 11, 2015, 5:35 PM
  • Apr. 29, 2015, 4:59 PM
    • QEP Resources (NYSE:QEP): Q1 EPS of -$0.05 beats by $0.25.
    • Revenue of $491.6M (-39.9% Y/Y) misses by $153.05M.
    | Apr. 29, 2015, 4:59 PM
Company Description
QEP Resources Inc is a holding company with two subsidiaries, which are engaged in oil and gas exploration and production and oil and gas marketing, operation of the Haynesville Gathering System and an underground gas storage facility.