Ultra Petroleum (UPL) Stock Price Up 7.4%

Ultra Petroleum Corp (NASDAQ:UPL)’s share price rose 7.4% on Tuesday . The stock traded as high as $1.50 and last traded at $1.45. Approximately 2,604,297 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 4,077,697 shares. The stock had previously closed at $1.35.

Several equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Ultra Petroleum from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 15th. Capital One Financial lowered shares of Ultra Petroleum from an “equal weight” rating to an “underweight” rating in a report on Friday, August 10th. ValuEngine lowered shares of Ultra Petroleum from a “sell” rating to a “strong sell” rating in a report on Friday, September 7th. Finally, National Alliance Securities lowered shares of Ultra Petroleum from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has an average rating of “Sell” and an average target price of $1.63.

The company has a debt-to-equity ratio of -1.95, a quick ratio of 0.43 and a current ratio of 0.50. The firm has a market capitalization of $220.70 million, a price-to-earnings ratio of 0.72 and a beta of 0.63.

Ultra Petroleum (NASDAQ:UPL) last posted its earnings results on Thursday, August 9th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). The firm had revenue of $190.14 million during the quarter, compared to analyst estimates of $202.80 million. Ultra Petroleum had a negative return on equity of 21.81% and a negative net margin of 23.49%. On average, equities research analysts expect that Ultra Petroleum Corp will post 0.74 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc raised its holdings in Ultra Petroleum by 89.0% in the first quarter. Legal & General Group Plc now owns 92,482 shares of the company’s stock worth $385,000 after purchasing an additional 43,553 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Ultra Petroleum by 3.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 908,476 shares of the company’s stock worth $2,099,000 after acquiring an additional 32,221 shares during the period. Paloma Partners Management Co raised its holdings in shares of Ultra Petroleum by 137.3% during the second quarter. Paloma Partners Management Co now owns 647,798 shares of the company’s stock worth $1,496,000 after acquiring an additional 374,830 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ultra Petroleum during the first quarter worth $242,000. Finally, First Manhattan Co. raised its holdings in shares of Ultra Petroleum by 16.3% during the second quarter. First Manhattan Co. now owns 2,194,404 shares of the company’s stock worth $5,069,000 after acquiring an additional 307,900 shares during the period. Institutional investors own 90.61% of the company’s stock.

Ultra Petroleum Company Profile (NASDAQ:UPL)

Ultra Petroleum Corp., an independent oil and gas company, engages in the acquisition, exploration, development, operation, and production of oil and natural gas properties. Its principal business activities are developing its natural gas reserves in the Green River Basin of southwest Wyoming—the Pinedale and Jonah fields; and its oil reserves in the Uinta Basin in northeast Utah.

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