Ultra Petroleum Corp (NASDAQ:UPL) has been given an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold recommendation. Ultra Petroleum’s rating score has declined by 50% in the last 90 days as a result of various analysts’ ratings changes.
Brokers have set a twelve-month consensus price objective of $6.33 for the company and are forecasting that the company will post $0.24 earnings per share for the current quarter, according to Zacks. Zacks has also given Ultra Petroleum an industry rank of 36 out of 255 based on the ratings given to related companies.
A number of brokerages have recently commented on UPL. Stifel Nicolaus set a $3.00 target price on shares of Ultra Petroleum and gave the company a “buy” rating in a report on Tuesday, April 24th. Zacks Investment Research lowered Ultra Petroleum from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 25th. ValuEngine lowered Ultra Petroleum from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Capital One Financial lowered Ultra Petroleum from an “equal weight” rating to an “underweight” rating in a research report on Thursday, May 10th.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised 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 purchasing an additional 43,553 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Ultra Petroleum in the 1st quarter worth about $242,000. Barclays PLC raised its position in Ultra Petroleum by 114.1% in the 1st quarter. Barclays PLC now owns 132,429 shares of the company’s stock worth $552,000 after buying an additional 70,588 shares during the last quarter. Tibra Equities Europe Ltd raised its position in Ultra Petroleum by 219.8% in the 1st quarter. Tibra Equities Europe Ltd now owns 158,092 shares of the company’s stock worth $659,000 after buying an additional 108,656 shares during the last quarter. Finally, Freestone Capital Holdings LLC purchased a new position in Ultra Petroleum in the 1st quarter worth about $507,000.
Shares of UPL stock traded down $0.06 during mid-day trading on Friday, reaching $1.98. 3,001,600 shares of the company’s stock traded hands, compared to its average volume of 4,259,344. Ultra Petroleum has a 12 month low of $1.54 and a 12 month high of $11.73. The stock has a market cap of $400.02 million, a PE ratio of 0.98 and a beta of 2.00. The company has a current ratio of 0.57, a quick ratio of 0.50 and a debt-to-equity ratio of -1.93.
Ultra Petroleum (NASDAQ:UPL) last announced its earnings results on Thursday, May 10th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.01. Ultra Petroleum had a net margin of 35.07% and a negative return on equity of 24.19%. The firm had revenue of $225.37 million for the quarter, compared to analysts’ expectations of $215.70 million. sell-side analysts forecast that Ultra Petroleum will post 1.09 earnings per share for the current fiscal year.
Ultra Petroleum Company Profile
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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