Stock Alert: QEP Resources Surge 57% In Late Trade

(RTTNews) - Shares of QEP Resources Inc. (QEP) soared 57% to $1.13 in the extended trading session on April 30, after the company reported a turnaround to profit for the first quarter.

The company's Q1 net income was $367.4 million or $1.54 per share compared to a loss of $116.7 million or $0.49 per share in the first quarter 2019.

Adjusted net income was $48.4 million or $0.21 per share versus $34.1 million or $0.15 per share last year. Analysts polled by Thomson Reuters estimated breakeven per share for the quarter. Analysts' estimate typically exclude certain special items.

Total revenues declined to $225.8 million from $280.6 million generated a year ago.

The stock has been trading in the range of $0.26 - $8.17 for the past one year, and closed Wednesday's trade at $0.72, up 17 cents or 30.55%. QEP, further, gained 41 cents or 57.38% in the after-hours trading session.