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Shares of Ultra Petroleum Corp. (NYSE:UPL) saw some unusual options trading on Monday. Stock traders bought 9,955 call options on the stock, American Banking & Market News reports. This is an increase of 290% compared to the typical daily volume of 2,555 call options.

A number of research firms have recently commented on UPL. Analysts at Raymond James upgraded shares of Ultra Petroleum Corp. from a “market perform” rating to an “outperform” rating in a research note on Monday, April 7th. They now have a $36.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Ultra Petroleum Corp. in a research note on Friday, April 4th. They now have a $30.00 price target on the stock. Finally, analysts at ISI Group upgraded shares of Ultra Petroleum Corp. from a “cautious” rating to a “neutral” rating in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $26.44.

Shares of Ultra Petroleum Corp. (NYSE:UPL) traded up 1.16% on Monday, hitting $29.72. The stock had a trading volume of 3,238,987 shares. Ultra Petroleum Corp. has a one year low of $18.22 and a one year high of $29.52. The stock has a 50-day moving average of $26.41 and a 200-day moving average of $22.67. The company has a market cap of $4.547 billion and a P/E ratio of 19.08.

Ultra Petroleum Corp. (NYSE:UPL) last announced its earnings results on Thursday, February 20th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $228.50 million. On average, analysts predict that Ultra Petroleum Corp. will post $2.39 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.

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