QEP Resources Reports Second Quarter 2019 Financial and Operating Results
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QEP Resources (QEP) Completes Strategic Review Without a Sale, Enters Agreement with Elliott
August 7, 2019 7:19 AM EDTQEP Resources (NYSE: QEP) Board of Directors concluded its formal strategic alternatives review process without a sale. The company will remain an independent company and its go-forward strategy focuses on free cash flow, reducing leverage and returning capital to shareholders. Further, the company entered an agreement with activist invetor Elliott Management.
"QEP delivered solid performance in the second quarter, demonstrating significant progress on a number of fronts. The Company has completed its formal strategic review process and... More
QEP Resources (QEP) Misses Q2 EPS by 6c, to Move Forward as Independent Company
August 7, 2019 7:13 AM EDT(Updated - August 7, 2019 7:15 AM EDT)
QEP Resources (NYSE: QEP) reported Q2 EPS of ($0.04), $0.06 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $296.2 million versus the consensus estimate of $299.38 million.
QEPs Board of Directors concluded formal strategic alternatives... MoreQEP Resources (QEP) Announces Cooperation Agreement with Elliott Management
August 7, 2019 7:11 AM EDTQEP Resources, Inc. (NYSE: QEP) today announced that it has entered into a cooperation agreement with affiliates of Elliott Management Corporation (Elliott). Funds affiliated with Elliott beneficially own approximately 4.9% of the Companys common stock.
Board Enhancement
As part of the agreement and the ongoing refreshment of QEPs Board, the parties will work together to identify board nominees and to agree upon two new independent directors to be appointed to QEP's Board. The two new directors are expected to have strong operating backgrounds in unconventional development and are... More
