Ultra Petroleum (NASDAQ:UPL) announced its earnings results on Thursday. The company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02, MarketWatch Earnings reports. The firm had revenue of $203.78 million during the quarter, compared to analyst estimates of $199.80 million. Ultra Petroleum had a negative net margin of 23.49% and a negative return on equity of 21.81%.
Shares of Ultra Petroleum stock traded down $0.02 during trading hours on Friday, reaching $1.54. 2,136,664 shares of the company’s stock were exchanged, compared to its average volume of 3,988,010. Ultra Petroleum has a fifty-two week low of $0.82 and a fifty-two week high of $10.18. The company has a market cap of $317.26 million, a price-to-earnings ratio of 0.76 and a beta of -0.60.
Several hedge funds have recently modified their holdings of UPL. Dimensional Fund Advisors LP raised its holdings in shares of Ultra Petroleum by 26.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,172,467 shares of the company’s stock valued at $13,229,000 after purchasing an additional 669,992 shares during the period. Legal & General Group Plc raised its holdings in Ultra Petroleum by 89.0% in the 1st quarter. Legal & General Group Plc now owns 92,482 shares of the company’s stock valued at $385,000 after acquiring an additional 43,553 shares during the period. First Manhattan Co. raised its holdings in Ultra Petroleum by 16.3% in the 2nd quarter. First Manhattan Co. now owns 2,194,404 shares of the company’s stock valued at $5,069,000 after acquiring an additional 307,900 shares during the period. SG Americas Securities LLC raised its holdings in Ultra Petroleum by 2,751.5% in the 2nd quarter. SG Americas Securities LLC now owns 1,267,394 shares of the company’s stock valued at $2,928,000 after acquiring an additional 1,222,948 shares during the period. Finally, IPG Investment Advisors LLC bought a new position in Ultra Petroleum in the 2nd quarter valued at about $254,000. 90.69% of the stock is currently owned by institutional investors.
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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; and its oil reserves in the Uinta Basin in northeast Utah.
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