Ultra Petroleum (UPL) Trading 7.4% Higher

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

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

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

Ultra Petroleum (NASDAQ:UPL) last released its earnings results on Thursday, August 9th. The company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The business had revenue of $190.14 million during the quarter, compared to analysts’ expectations of $202.80 million. Ultra Petroleum had a negative return on equity of 21.81% and a negative net margin of 23.49%. As a group, analysts predict that Ultra Petroleum Corp will post 0.74 EPS for the current year.

Large investors have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its position in shares of Ultra Petroleum by 227.4% in the 2nd quarter. Jane Street Group LLC now owns 50,269 shares of the company’s stock worth $116,000 after buying an additional 89,712 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Ultra Petroleum in the 1st quarter worth about $242,000. IPG Investment Advisors LLC purchased a new stake in shares of Ultra Petroleum in the 2nd quarter worth about $254,000. Raffles Associates LP grew its position in shares of Ultra Petroleum by 50.0% in the 2nd quarter. Raffles Associates LP now owns 150,000 shares of the company’s stock worth $346,000 after buying an additional 50,000 shares during the period. Finally, Legal & General Group Plc grew its position in shares of Ultra Petroleum by 89.0% in the 1st quarter. Legal & General Group Plc now owns 92,482 shares of the company’s stock worth $385,000 after buying an additional 43,553 shares during the period. 90.61% of the stock is currently owned by hedge funds and other institutional investors.

About Ultra Petroleum (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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