Zacks: Ultra Petroleum Corp. (NASDAQ:UPLC) Given Average Rating of “Hold” by Brokerages

Ultra Petroleum Corp. (NASDAQ:UPLC) has been assigned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating. Ultra Petroleum’s rating score has improved by 25% from three months ago as a result of a number of analysts’ ratings changes.

Brokerages have set a twelve-month consensus price objective of $0.90 for the company and are expecting that the company will post ($0.08) EPS for the current quarter, according to Zacks. Zacks has also assigned Ultra Petroleum an industry rank of 194 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded shares of Ultra Petroleum from a “sell” rating to a “hold” rating in a report on Friday.

In related news, CFO David W. Honeyfield purchased 300,000 shares of Ultra Petroleum stock in a transaction on Monday, August 19th. The shares were bought at an average cost of $0.13 per share, for a total transaction of $39,000.00. Following the acquisition, the chief financial officer now owns 360,000 shares in the company, valued at approximately $46,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders acquired 547,000 shares of company stock worth $85,180.

NASDAQ UPLC remained flat at $$0.27 on Friday. 944,772 shares of the company’s stock were exchanged, compared to its average volume of 2,586,821. Ultra Petroleum has a one year low of $0.08 and a one year high of $2.04.

Ultra Petroleum (NASDAQ:UPLC) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $155.41 million during the quarter, compared to the consensus estimate of $179.80 million.

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.

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