QEP Resources Inc (QEP)

[TRCPA]

It actually spiked to almost $2.50 after the Wells Fargo press release, as the economy also re-opened. That press release was highly significant.

The covid numbers have hurt in recent days, but this is also a highly profitable company during covid with its hedges, so it still should be at least $2-$3/share at fair value now.

Phase III vaccine trials are coming this month, along with additional therapeutics gaining a foothold.

But we Americans have to understand that we must take precautions in the meantime to keep the numbers down. I had a strong hunch that once the weather warmed up, people were going to be dropping their guard. Well, that's what happened. Now its time to get to following CDC guidelines.

Our neighbor to the north, Canada, is embarrassing us with the way they are handling things compared to us.

QEP foresaw a lot of this, fortunately, with their $56 hedges this year. So they should remain pretty strong even with the recent spike in cases.

[rhainswo]

I have no words for how this is down here it was 1.40 after last earnings report and that was when oil was half this price go figure

[TRCPA]

No doubt. Holding for about 6 months should yield about 6X to 7X current value. And once the virus is over, I think your $10 will be within reach.

In the meantime, any good news on the therapeutic or vaccination front will spike us from here.

The financing rework with Wells Fargo along with Q1 numbers tell me most of what I need to know.

[ngbl4dawin]

HUGE buying opportunity at these levels. This is all COVID related, if you can afford to hold until the vaccine in the fall/winter, you'll triple your investment MINIMUM. I see 10$ by 2021, there is a monsterous pent up demand for travel.

[TRCPA]

Hedgies are walking this one down for now. Q2 report coming inside a month. Expecting another profitable quarter during covid, hedged at $56/barrel.

[rhainswo]

You be well rewarded imho I made the mistake off getting out around 1 but I won't be doing that again

[conesa]

I ain’t going nowhere

[rhainswo]

Just need to be patience here remember same thing it was around .7 to 1for ages then out of nowhere shot up to 2.80 looks like the exact same thing happening here

[TRCPA]

You're not missing anything. This company is rock solid with excellent management and fundamentals. Hedgies are playing with it today, taking advantage of the recent covid outbreak.

[conesa]

Didn’t wells fargo just announced something positive. What the hell I’m I missing here?

[conesa]

Head and shoulders is good for a pleasant hair cleaning experience. Sorry baldies

[rhainswo]

Has this been made compliant now don't see any delisted Sign on it from my fidelity account

[rhainswo]

Looking like next leg adding more Monday

[TheGuy87]

No we are cash flow positive

[conesa]

Is QEP a likely for bankruptcy???????

[TuMaRu]

Honestly, that does not mean much these days. They not only play both sides (long/short, stocks/bonds) but often both sides of the same stock at the same time. Plus, there's any number of bankrupt companies that had huge institutional ownership, yet filed Ch. 11

Take the case of Diamond Offshore Drilling. Loews had around 45-50% ownership yet they took a loss and writeoff on their books when DO filed recently. Currently trades under DOFSQ. Instis along with all others were wiped out obviously.

[Radar02]

Looking at the TD Ameritrade summary page the Institutional holdings are increasing going up over the past several days now up to 91.67%.

[rhainswo]

I think qep is compliant as well big run here Tommorow imho

[interloper]

QEP is ready for a climb back to $2.40. Back in with a starter. Crude prices climb today because Russia is back in compliance with oil production cuts.

[MCIGGY]

There is still 3 months of summer left, time for everyone to consume as much as possible and leave your cars running 24/7.

[MCIGGY]

There is still 3 months of summer left, time for everyone to consume as much as possible and leave your cars running 24/7.

[conesa]

I’m inclined to believe that something like that is certainly posible. After all, what the hell is there to do other than to keep consolidating power. But the pandemic is not as effective of a weapon as they might have thought thou. Maybe to kill the economy but not to kill people. The numbers are not that large in comparison to the world population. But then again this may just be round one before perfection. Anyways... nothing to worry about fellas, we’ll be back soon enough. Time is a flat circle and the tail may very well the head. Amor Fati. Haha.

[TuMaRu]

Yes, that is their agenda - population control. Makes you wonder why they don't preach their junk in China and India, the real culprits behind the hypergrowth and responsible for maximum carbon emissions in the world. They want to build a consumer class in those places but want to reduce the West's population.

[MCIGGY]

It's all the climate change freaks, they want zero carbon and less people on earth, they also want to track and control everyone as slaves if you ask me.

[TuMaRu]

Agree with prior sentiments. They want to push their endless junk onto dimwitted conspicuous consumers and vaccines are just another "thing" to sell to the minions. Does anyone really need a new iPhone every 2 years, yet people who barely have $100 in their bank, tons of credit card debt and working for min wage will happily line up outside of Apple or Microsoft stores at midnight cause they have to have the latest "gadget", XBOX, tablet etc. These consumers are what the oligarchs are after -- keeping people in huge amounts of debts and therefore some form of permanent slavery. So it makes sense for them to favor certain industries whatever new-fangled thing they want to sell, e.g. electric cars by killing off the fossil fuel industry.

Never mind that NO ONE has given ANY thought to recycling the millions of dangerous lithium batteries these cars (and other gadgets) use. Can you imagine it will lead to 100X the worst levels and types of pollution the oil&gas sector ever caused? Who has any type of recycling program in place for the ever increasing junk our modern society creates and consumes as if there's no tomorrow? And to think that just 75-80 years ago many countries faced starvation and there were food shortages worldwide. Now everyone wants to create brand new middle class populations that can be tethered to the debt machine forever. Never will they be able to get off the treadmill unless they drop dead.

[conesa]

Why? What’s the purpose of that? A reset toward ESG or Nihilism?

[MCIGGY]

I think it's being used to destroy the world economy, and oil is part of that.

[realfast95]

QEP QEP Resources Wells Fargo Maintains Equal-Weight from 1.00 to 1.50

[TRCPA]

How do you know when a company is severely undervalued?

QEP reported a net profit of $367 million after tax in Q1, which included effects of covid over about 1/3 of that period.

And book value is about $3 billion.

Meanwhile, current market cap is less than $300 million.

Incredible.

[conesa]

You think COVID-19 is meant to destroy the oil industry?

[MCIGGY]

Fauci is a puppet of Bill Gates, the same guy trying to destroy the oil industry, not sure why anyone should believe a single word that comes out of his mouth, its completely bought and paid for, along with Dr.Faucis wife , she is also in the vaccine business. Conflict of interest?

[MCIGGY]

This is interesting.

India’s oil imports in May hit the lowest since October 2011 as refiners with brimming storage cut purchases after a continuous decline in fuel demand, preliminary data obtained from industry sources showed. In May, India imported 3.18 million barrels per day (bpd) of oil, a decline of about 31% from April, and about 26% from a year ago, the data showed. Data also showed that Oil from the Organization of the Petroleum Exporting Countries (OPEC) as a share of India’s imports fell to an all-time low of 71.3%, while the share of US oil hit a record high of nearly 8% in May.
I think US is getting cozy with India and could be good for US oil companies, probably bad for relations with other oil producing nations.

The oil markets had a mixed day today:

Crude Oil decreased 2.11 USD/BBL or -5.23% to 38.2600Brent decreased 2.18 USD/BBL or -5.11% to 40.4500Natural gas increased 0.004 USD/MMBtu or 0.25% to 1.6250Gasoline decreased 0.0882 USD/GAL or -6.78% to 1.2120Heating oil decreased 0.0446 USD/GAL or -3.71% to 1.1567

The above data was collected around 13.30 EST on Wednesday.

Top commodity gainers: Rice (0.64%), Coffee (0.31%), Live Cattle (0.40%), and Oat (0.33%)Top commodity losers: Gasoline (-6.78%), Crude Oil (-5.23%), Brent (-5.11%), and Lumber (-3.90%)

The above data was collected around 13:40 EST on Wednesday.

[conesa]

Isn’t 8 month an eternity?

[TRCPA]

Well, they did bottom line $367 million after tax in Q1 with their hedging. And their overall balance sheet is very strong. The recent 8K outlining the change in terms with Wells Fargo presents a hand in glove approach with their debt partners.

And if I'm not mistaken, the debt maturity that follows 2021 is in late 2022, not July.

So I see a bright future ahead for QEP. with its smart management. Covid obviously poses a problem if people in this country want to ignore it and its consequences. So I see some choppy waters ahead for the economy here and there until some people come to their senses on wearing masks and social distancing.

On the other hand, I'm in the Dr. Fauci camp that we will have a vaccine around about year end. He is the foremost authority on infectious diseases, and ghst has been his mantra.

And that will be a huge boost to oil and gas....especially for the good, solid companies like QEP. Hence, my prediction.

[TuMaRu]

So you don't think that the upcoming bond maturities in 8 months are a problem? QEP bonds maturing in Mar-2021 and also Jul-2022 and some analysts think they'll likely run out of liquidity even with the hedges on some of their production and cuts in CAPEX.

Seems as though any O&G company with near-term bonds due are facing a lot of trouble. Oasis just had its credit facility cut by 50% and so did Borr Drilling even though both serve different parts of the same sector. It remains to be seen how 2H 2020 turns out what with the ongoing COVID spikes and governors run amuck. NY-NJ-CT wants to quarantine travelers from the South while European Commission wants to entirely ban all Americans from traveling there! Weird times we live in.

[conesa]

I’m more of a Nietzsche kind of specimen... but “I Will” as opposed to “ I Shall” certainly check this out. Haha.

[MCIGGY]

It's all by design, called the Great reset,look it up, thisbis what the billionaires of the world are doing, they want to and have crashed the economy to rebuild it in the marxists way.

[conesa]

Sweet baby Jesus this COVID-19 did the #2 on all of us. Wear a mask cause it stinks.

[Radar02]

My bet it is Dilution.

[TRCPA]

I'M actually better at long term predictions. $7-$8 by year end, with vaccine. Hedgies occasionally get in the way of short-term calls. Covid will cause some rough patches in the economy in between.

[conesa]

Cthulhu release the damn krakennnnnnnn

[rhainswo]

Nice should start reflecting in qep price not staying down at this level for much longer

[conesa]

WTI once more over 40... nearly 41 now... Price is breaking “properly”... enough is enough, is time to release the kraken.

[rhainswo]

Yep holding it down on purpose so the big boys can load up they ain't fooling me

[MCIGGY]

Goldman sachs is at it again, downgrading a bunch of oil companies, the media is doing no one in oil any favors, we are at very low production amounts yet the media is saying because of the 2nd wave of the virus it balances out, it's all bs.

[rhainswo]

Expecting a huge run here soon look at that 13g if billionaires are buying I'm buying too no brainer here folks

[conesa]

WTI hit 40 for the third time... lets get this sucker moving

[conesa]

Right on mate. Great prediction! ?? lmfao

[TRCPA]

Agree. I see $2+ in the cards very shortly.

[rhainswo]

Oil just hit 40 expect a good run here Today