First Manhattan Co. boosted its holdings in shares of Ultra Petroleum Corp (NASDAQ:UPL) by 26.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,809,180 shares of the company’s stock after buying an additional 374,124 shares during the period. First Manhattan Co. owned approximately 0.92% of Ultra Petroleum worth $1,103,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in UPL. JPMorgan Chase & Co. lifted its stake in shares of Ultra Petroleum by 57.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,342,209 shares of the company’s stock worth $1,503,000 after purchasing an additional 488,690 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Ultra Petroleum by 72.1% during the 3rd quarter. Hsbc Holdings PLC now owns 866,738 shares of the company’s stock worth $971,000 after purchasing an additional 363,074 shares during the last quarter. Paloma Partners Management Co lifted its stake in shares of Ultra Petroleum by 35.6% during the 3rd quarter. Paloma Partners Management Co now owns 878,200 shares of the company’s stock worth $984,000 after purchasing an additional 230,402 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in shares of Ultra Petroleum by 8.6% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 15,308,741 shares of the company’s stock worth $17,146,000 after purchasing an additional 1,212,158 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in Ultra Petroleum in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.
A number of equities research analysts have commented on UPL shares. Stifel Nicolaus set a $1.00 price target on Ultra Petroleum and gave the company a “hold” rating in a research note on Wednesday, February 20th. Zacks Investment Research upgraded Ultra Petroleum from a “sell” rating to a “hold” rating in a research note on Saturday, February 2nd. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Ultra Petroleum presently has a consensus rating of “Hold” and a consensus price target of $1.63.
In related news, insider J. Jay Jr. Stratton bought 80,000 shares of the company’s stock in a transaction that occurred on Thursday, April 11th. The shares were purchased at an average cost of $0.55 per share, with a total value of $44,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David W. Honeyfield bought 60,000 shares of the company’s stock in a transaction that occurred on Friday, March 29th. The shares were bought at an average cost of $0.61 per share, for a total transaction of $36,600.00. The disclosure for this purchase can be found here. Company insiders own 3.40% of the company’s stock.
Shares of NASDAQ:UPL opened at $0.55 on Wednesday. Ultra Petroleum Corp has a 52-week low of $0.53 and a 52-week high of $3.33. The stock has a market capitalization of $108.74 million, a PE ratio of 0.72 and a beta of 0.92.
Ultra Petroleum (NASDAQ:UPL) last announced its quarterly earnings data on Thursday, March 7th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. Ultra Petroleum had a negative return on equity of 13.76% and a net margin of 9.55%. The firm had revenue of $273.21 million during the quarter, compared to analysts’ expectations of $241.40 million. As a group, research analysts anticipate that Ultra Petroleum Corp will post 0.38 EPS for the current year.
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About Ultra Petroleum
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 Wyomingthe Pinedale and Jonah fields.
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