How These Basic Materials Stocks are Performing? -- QEP Resources, Spectra Energy, Genesis Energy, and Gulfmark Offshore

Aug 01, 2016, 07:55 ET from Chelmsford Park SA

NEW YORK, August 1, 2016 /PRNewswire/ -- attention is directed to four Basic Materials equities this morning, namely: QEP Resources Inc. (NYSE: QEP), Spectra Energy Corp. (NYSE: SE), Genesis Energy L.P. (NYSE: GEL), and Gulfmark Offshore Inc. (NYSE: GLF). On July 21st, 2016, research firm Charles Schwab reiterated its "Market Perform" industry rating to the basic materials space despite a weak start to the year, declining commodity prices, and lower demand in China. Register now and get full and free access to our downloadable research reports on these stocks at:

QEP Resources  

Last Friday at the close, shares in Denver, Colorado headquartered QEP Resources Inc. edged 4.48% higher at $18.20. The stock recorded a trading volume of 7.93 million shares, which was above its three months average volume of 5.21 million shares. The Company's shares have advanced 1.51% in the previous three months and 35.82% since the start of this year. The stock is trading above its 200-day moving average by 23.16%. Furthermore, shares of QEP Resources, which through its subsidiaries, operates as a natural gas and crude oil exploration and production company in the U.S., have a Relative Strength Index (RSI) of 54.01.

On July 28th, 216, QEP Resources reported a net loss of $197.0 million, or $0.90 per diluted share, for Q2 2016 compared to a net loss of $76.3 million, or $0.43 per diluted share, in Q2 2015. The company stated that adjusted EBITDA for Q2 2016 was $168.3 million as compared to adjusted EBITDA of $279.4 million in Q2 2015.

On July 21st, 2016, research firm FBR Capital initiated a 'Market Perform' rating on the Company's stock, issuing a target price of $19 per share. Access our complete research report on QEP for free at:

Spectra Energy  

Houston, Texas headquartered Spectra Energy Corp.'s stock finished Friday's session 0.33% lower at $35.97. A total volume of 9.55 million shares was traded, which was higher than their three months average volume of 4.09 million shares. The Company's shares have advanced 0.33% in the last one month, 16.53% over the previous three months, and 54.36% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 4.44% and 23.32%, respectively. Additionally, shares of Spectra Energy, which owns and operates a portfolio of natural gas-related energy assets in North America, have an RSI of 53.25.

On July 05th, 2016, Spectra Energy declared a quarterly cash dividend on its common stock of $0.405 per share, or $1.62 per share on an annualized basis. The company's dividend is payable on September 7th, 2016, to shareholders of record at the close of business on August 12th, 2016. The complimentary research report on SE can be downloaded at:

Genesis Energy  

Shares in Houston, Texas-based Genesis Energy L.P. ended the session 1.06% higher at $36.38 and with a total volume of 633,008 shares traded. The stock has gained 14.34% in the previous three months and 5.31% on an YTD basis. Shares of the Company, which operates in the midstream segment of the oil and gas industry, are trading above their 200-day moving average by 11.22%. Moreover, Genesis Energy's stock has an RSI of 40.82.

On July 18th, 2016, research firm Wells Fargo upgraded the Company's stock rating from 'Market Perform' to 'Outperform'.

On July 26th, 2016, Genesis Energy announced that its earnings for Q2 ended June 30th, 2016, will be released on August 3rd before the market opens. The company's Earnings Conference Call will be held on the same day at 1:00 p.m. central time. Register for free on and get access to the latest PDF format report on GEL at:

Gulfmark Offshore  

Houston, Texas-based Gulfmark Offshore Inc.'s stock recorded a trading volume of 466,204 shares and closed the day flat at $2.90. Shares of the Company, which provides offshore marine support and transportation services primarily to the companies involved in the offshore exploration and production of oil and natural gas, are trading 17.92% below their 50-day moving average. The stock has an RSI of 39.92.

On July 27th, 2016, Gulfmark offshore announced its Q2 2016 results. The company reported revenue of $30.5 million and a net loss of $47.6 million, or $1.90 per diluted share. During the quarter, the company reduced Bond Indenture debt by $49 million through open market purchases, generating a gain of over $25 million. Subsequent to quarter's end, Gulfmark offshore sold two Southeast Asia Vessels for total proceeds of $3.6 million. Download your free research report on GLF at:


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