Traders Purchase Large Volume of Ultra Petroleum Corp. Put Options (UPL)
Shares of Ultra Petroleum Corp. (NYSE:UPL) was the recipient of some unusual options trading on Monday. Investors acquired 8,165 put options on the stock, Analyst Ratings.Net reports. This represents an increase of approximately 965% compared to the average daily volume of 767 put options.
A number of analysts have recently weighed in on UPL shares. Analysts at Canaccord Genuity initiated coverage on shares of Ultra Petroleum Corp. (NYSE:UPL) in a research note to investors on Tuesday, August 20th. They set a “hold” rating and a $22.00 price target on the stock. Separately, analysts at Jefferies Group downgraded shares of Ultra Petroleum Corp. (NYSE:UPL) from a “hold” rating to an “underperform” rating in a research note to investors on Tuesday, August 13th. Finally, analysts at Deutsche Bank raised their price target on shares of Ultra Petroleum Corp. (NYSE:UPL) from $21.00 to $22.00 in a research note to investors on Wednesday, August 7th.
Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Ultra Petroleum Corp. has a consensus rating of “Hold” and a consensus price target of $22.44.
Shares of Ultra Petroleum Corp. (NYSE:UPL) opened at 20.25 on Tuesday. Ultra Petroleum Corp. has a 1-year low of $15.26 and a 1-year high of $24.52. The stock has a 50-day moving average of $21. and a 200-day moving average of $20.81. The company’s market cap is $3.098 billion.
Ultra Petroleum Corp. (NYSE:UPL) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $436.99 million for the quarter, compared to the consensus estimate of $234.98 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 53.5% on a year-over-year basis. On average, analysts predict that Ultra Petroleum Corp. will post $1.67 earnings per share for the current fiscal year.
Ultra Petroleum Corp. (NYSE:UPL) is an independent oil and gas company engaged in the development, production, operation, exploration and acquisition of oil and natural gas properties.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.