NEW YORK (TheStreet) -- QEP Resources (QEP) - Get Report stock is down 8.33% to $9.85 on heavy volume in afternoon trading on Monday after announcing a stock offering of 33 million shares. 

The company has priced its offering at $10 per share, and has granted underwriters an option to purchase as many as 4.95 million additional shares. 

QEP Resources expects to receive total gross proceeds of roughly $330 million, which it will put toward general corporate purposes such as reducing its debt load, acquiring properties and funding part of its exploration and production activities.

Based in Denver, QEP resources is engaged in two primary lines of business: oil and gas exploration and production (QEP Energy) and oil and gas marketing and an underground gas storage facility (QEP Marketing and other).

About 30.28 million shares of QEP Resources have been traded so far today, well above the company's average trading volume of roughly 5.29 million shares per day.

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D.

Qep Resources's weaknesses include its unimpressive growth in net income, disappointing return on equity, poor profit margins, weak operating cash flow and generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: QEP

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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