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Last $18.50 USD
Change Today -0.61 / -3.19%
Volume 1.6M
As of 12:11 PM 05/28/15 All times are local (Market data is delayed by at least 15 minutes).

qep resources inc (QEP) Key Developments

QEP Resources, Inc. Declares Quarterly Cash Dividend, Payable on June 5, 2015

QEP Resources, Inc. announced that its Board of Directors approved a quarterly cash dividend of $0.02 per share of common stock, payable on June 5, 2015, to shareholders of record on May 26, 2015.

QEP Resources, Inc. Announces Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015; Updates Production and Capital Investment Guidance for the Year 2015; Reports Impairment Charges for the First Quarter Ended March 31, 2015

QEP Resources, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $491.6 million against $817.5 million a year ago. Operating loss was $128.6 million against operating income of $140.8 million a year ago. Loss before income taxes was $87.1 million against Income before income taxes of $20.9 million a year ago. Net loss from continuing operations was $55.6 million or $0.32 per basic and diluted share against net income from continuing operations of $12.7 million or $0.07 per basic and diluted share a year ago. Net loss was $55.6 million or $0.32 per basic and diluted share against net income of $39.7 million or $0.22 per basic and diluted share a year ago. Adjusted EBITDA was $222.8 million against $386.3 million a year ago. Net cash used in operating activities was $272.7 million against net cash provided by operating activities $322.4 million a year ago. Property, plant and equipment, including dry exploratory well expense were $342.1 million against $330.2 million a year ago. Adjusted net loss was $8.7 million against adjusted net income of $68.1 million a year ago. Diluted adjusted net loss per share was $0.05 against diluted adjusted net income per share of $0.38 a year ago. Adjusted net loss from continuing operations was $8.7 million against adjusted net income from continuing operations of $41.1 million a year ago. Diluted adjusted net loss from continuing operations per share was $0.05 against diluted adjusted net income from continuing operations per share $0.23 a year ago. The company announced total production of 75.2 bcfe for the first quarter ended March 31, 2015 against 73.7 bcfe for the same period a year ago. Average daily production was $835.6 MMcfe against 819.3 MMcfe for the same period a year ago. The company updated production and capital investment guidance for the year 2015. The company now expects total energy equivalent production of 291 bcfe to 312 bcfe compared to previous forecast of 278 bcfe to 313 bcfe. Total capital investment to be in the range of $900 million to $1,050 million compared to previous forecast of $900 million to $1,050 million. Updated oil production guidance for 2015 is a range of 17 million to 18.5 million barrels, the midpoint of which is up 0.25 million barrels from initial guidance midpoint. Updated guidance for NGL volumes is 4 million to 4.3 million barrels. The lower to upper end of the NGL range reflects slightly lower NGL recoveries using refrigeration processing rather than cryogenic processing. The company reported impairment charges from continuing operations of $20.0 million for the first quarter ended March 31, 2015 against $2.0 million a year ago.

QEP Resources, Inc. Proposes Amendments to its Certificate of Incorporation

QEP Resources, Inc. announced at its 2015 annual meeting of shareholders to be held on May 12, 2015, it will propose to amend the company's Certificate of Incorporation to declassify the Board of Directors and provide for the annual election of directors and to amend the company's Certificate of Incorporation to eliminate all supermajority voting provisions.

QEP Resources, Inc., Annual General Meeting, May 12, 2015

QEP Resources, Inc., Annual General Meeting, May 12, 2015., at 08:00 Mountain Daylight. Location: company's offices, Second Floor, 1050 17th Street. Agenda: To elect two directors to serve three-year terms until the 2018 annual meeting of shareholders, and until their successors are duly elected and qualified; to approve the compensation of the company's named executive officers; to ratify the appointment of PricewaterhouseCoopers LLP (PwC) as the company's independent auditor; to amend the company's certificate of incorporation to declassify the board of directors and provide for the annual election of directors; to amend the company's certificate of incorporation to eliminate all supermajority voting provisions; to propose the quantitative risk management reporting for hydraulic fracturing operations; and to transact such other business as may properly come before the meeting or any adjournment or postponement thereof.

QEP Resources, Inc. to Report Q1, 2015 Results on Apr 29, 2015

QEP Resources, Inc. announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on Apr 29, 2015

 

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QEP

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Valuation QEP Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.1x
Price/Book 0.9x
Price/Cash Flow 1.2x
TEV/Sales 0.3x
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