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Last $13.88 USD
Change Today +0.84 / 6.44%
Volume 6.4M
QEP On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 1:16 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

qep resources inc (QEP) Snapshot

Open
$13.21
Previous Close
$13.04
Day High
$14.55
Day Low
$13.21
52 Week High
09/2/14 - $35.91
52 Week Low
07/28/15 - $12.62
Market Cap
2.5B
Average Volume 10 Days
5.1M
EPS TTM
$0.52
Shares Outstanding
176.7M
EX-Date
08/14/15
P/E TM
27.0x
Dividend
$0.08
Dividend Yield
0.56%
Current Stock Chart for QEP RESOURCES INC (QEP)

qep resources inc (QEP) Related Businessweek News

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qep resources inc (QEP) Details

QEP Resources, Inc., through its subsidiaries, operates as an exploration and production company. The company acquires, explores, develops, and produces natural gas, oil, and natural gas liquids (NGLs) primarily in the Pinedale Anticline in western Wyoming; the Williston Basin in North Dakota; the Uinta Basin in eastern Utah; the Permian Basin in western Texas; the Haynesville/Cotton Valley in northwestern Louisiana; and other proven properties in Wyoming, Utah, and Colorado. As of December 31, 2014, it had estimated proved reserves of 3,931.9 Bcfe. The company markets and sells its products to various customers, including gas-marketing firms, industrial users, local-distribution companies, crude oil refiners, and remarketers. In addition, it markets and sells affiliate and third-party gas, oil, and NGLs in the Rocky Mountains and Midcontinent areas; and owns and operates an underground gas-storage reservoir in southwestern Wyoming. QEP Resources, Inc. is headquartered in Denver, Colorado.

765 Employees
Last Reported Date: 02/25/15

qep resources inc (QEP) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $844.8K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $558.4K
Executive Vice President of QEP Energy
Total Annual Compensation: $494.0K
Vice President and General Counsel
Total Annual Compensation: $343.5K
Senior Vice President of Business Development
Total Annual Compensation: $295.3K
Compensation as of Fiscal Year 2014.

qep resources inc (QEP) Key Developments

QEP Resources, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Operating Results for the Second Quarter Ended June 30, 2015; Revises Operating Guidance for the Full Year of 2015; Reports Impairment for the Second Quarter Ended June 30, 2015

QEP Resources, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s reported a net loss from continuing operations of $76.3 million, or $0.43 per diluted share compared with a net loss from continuing operations of $106.1 million, or $0.59 per diluted share, in the second quarter 2014. Net income or loss includes non-cash gains and losses associated with the change in the fair value of derivative instruments, gains and losses from asset sales, a non-cash pension curtailment expense and impairment charges. Excluding these items, the company's second quarter 2015 adjusted net income (a non-GAAP measure) was $16.0 million, or $0.09 per diluted share, compared with adjusted net income from continuing operations of $54.1 million, or $0.30 per diluted share, for the comparable 2014 period. The decrease in adjusted net income was due primarily to significantly lower average field-level prices for crude oil, natural gas and NGL, partially offset by higher crude oil volumes, lower production taxes and higher proceeds from realized commodity derivatives. Adjusted EBITDA was $279.4 million compared to $400.8 million a year ago. Adjusted net income was $16.0 million or $0.09 per diluted share, compared to $67.9 million or $0.38 per diluted share, a year ago. Total revenues were $608.6 million compared to $887.2 million a year ago. Operating loss was $16.7 million compared to $35.9 million a year ago. Loss from continuing operations before income taxes was $115.1 million compared to $168.0 million a year ago. Net loss was $76.3 or $0.43 per basic and diluted share, compared to $92.3 million or $0.51 per basic and diluted share, a year ago. For the six months, the company’s reported a net loss from continuing operations of $131.9 million, or $0.75 per diluted share compared with a net loss from continuing operations of $93.4 million, or $0.52 per diluted share a year ago. Adjusted net income from continuing operations was $7.3 million or $0.04 per diluted share compared to $95.2 million, or $0.53 per diluted share a year ago. Adjusted EBITDA was $502.2 million compared to $787.1 million a year ago. Adjusted net income was $7.3 million or $0.04 per diluted share, compared to $136.0 million or $0.76 per diluted share, a year ago. Total revenues were $1,100.2 million compared to $1,704.7 million a year ago. Operating loss was $145.3 million compared to operating income of $104.9 million a year ago. Loss from continuing operations before income taxes was $202.2 million compared to $147.1 million a year ago. Net loss was $131.9 or $0.75 per basic and diluted share, compared to $52.6 million or $0.29 per basic and diluted share, a year ago. Net cash used in operating activities was $2.6 million compared to net cash provided by operating activities of $860.3 million a year ago. Property, plant and equipment, including dry exploratory well expense was $651.36 million compared $779.0 million a year ago. The company reported operating results for the second quarter ended June 30, 2015. Crude oil production increased 9%, natural gas production increased 4% and NGL production increased 26% in the second quarter 2015 compared with the first quarter 2015. Net natural gas equivalent production increased by 8% to 80.9 Bcfe in the second quarter 2015 compared with 75.2 Bcfe in the first quarter 2015. The increase was due primarily to increased production in the Williston and Permian basins, partially offset by decreased Haynesville production. Average daily production was 889.0 MMcfe against 922.0 MMcfe a year ago. For the six months, the company reported total production of 156.1 Bcfe against 157.6 Bcfe a year ago. Average daily production was 862.4 MMcfe against 870.4 MMcfe a year ago. The company revised operating guidance for the full year of 2015. QEP Resources capital investment guidance to the range of $900 million to $1,050 million. The company expects capital investment in the second-half 2015 to decline from the first six months of 2015, as improved operational efficiencies are realized and lower service and supply costs are fully captured. The company reported impairment for the second quarter ended June 30, 2015. For the quarter, the company reported impairment of $0.5 million compared to $1.5 million a year ago.

QEP Resources to Shut Down Tulsa Office

QEP Resources announced that it will be shutting down its regional office in Tulsa. About 70 employees, most of them in technical jobs, work in the company's Tulsa office. Approximately half of those employees will be given relocation offers at the crude oil and natural gas exploration and production company's headquarters in Denver. Others will be laid off. Tulsa operations are expected to close by this fall. Employees who do not transfer will be eligible for severance, outplacement assistance and other transitional support.

QEP Resources, Inc. Declares Quarterly Cash Dividend, Payable on September 4, 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 September 4, 2015, to shareholders of record on August 18, 2015.

 

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