Ultra Petroleum (UPL) Stock Rating Upgraded by Zacks Investment Research

Ultra Petroleum (NASDAQ:UPL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Ultra Petroleum Corp. is an energy company. It engaged in domestic natural gas and oil exploration, development and production. Ultra Petroleum Corp. is based in Houston, United States. “

Several other equities analysts have also recently weighed in on the company. ValuEngine cut Ultra Petroleum from a “sell” rating to a “strong sell” rating in a report on Friday, September 7th. Capital One Financial cut Ultra Petroleum from an “equal weight” rating to an “underweight” rating in a report on Friday, August 10th. Finally, National Alliance Securities downgraded shares of Ultra Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $1.63.

Shares of NASDAQ UPL opened at $1.55 on Wednesday. The stock has a market capitalization of $305.43 million, a PE ratio of 0.76 and a beta of -0.60. Ultra Petroleum has a fifty-two week low of $0.82 and a fifty-two week high of $10.18.

Ultra Petroleum (NASDAQ:UPL) last announced its quarterly earnings data on Thursday, November 8th. The company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $203.78 million during the quarter, compared to analysts’ expectations of $199.80 million. Ultra Petroleum had a negative return on equity of 18.50% and a net margin of 16.40%. On average, sell-side analysts expect that Ultra Petroleum will post 0.73 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Disciplined Growth Investors Inc. MN lifted its stake in Ultra Petroleum by 8.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 15,308,741 shares of the company’s stock valued at $17,146,000 after purchasing an additional 1,212,158 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Ultra Petroleum by 22.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,881,003 shares of the company’s stock worth $8,965,000 after acquiring an additional 708,536 shares during the last quarter. First Manhattan Co. lifted its position in Ultra Petroleum by 10.1% during the third quarter. First Manhattan Co. now owns 2,415,459 shares of the company’s stock worth $2,705,000 after acquiring an additional 221,055 shares during the last quarter. Wolverine Asset Management LLC lifted its position in Ultra Petroleum by 75.5% during the second quarter. Wolverine Asset Management LLC now owns 1,540,069 shares of the company’s stock worth $3,557,000 after acquiring an additional 662,727 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Ultra Petroleum by 57.3% during the third quarter. JPMorgan Chase & Co. now owns 1,342,209 shares of the company’s stock worth $1,503,000 after acquiring an additional 488,690 shares during the last quarter. Institutional investors and hedge funds own 86.46% of the company’s stock.

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 Wyoming—the Pinedale and Jonah fields; and its oil reserves in the Uinta Basin in northeast Utah.

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