Ultra Petroleum Corp. Short Interest Down 7.9% in April (UPL)
Shares of Ultra Petroleum Corp. (NYSE:UPL) were the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 30,599,799 shares, a drop of 7.9% from the April 15th total of 33,240,288 shares, Analyst Ratings News reports. Approximately 20.7% of the shares of the stock are short sold. Based on an average daily volume of 4,043,488 shares, the days-to-cover ratio is presently 7.6 days.
A number of analysts have recently weighed in on UPL shares. Analysts at Sterne Agee upgraded shares of Ultra Petroleum Corp. from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 21st. They now have a $35.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Barclays upgraded shares of Ultra Petroleum Corp. from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 20th. They now have a $23.00 price target on the stock, up previously from $18.00. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.56.
Ultra Petroleum Corp. (NYSE:UPL) opened at 26.03 on Monday. Ultra Petroleum Corp. has a 52-week low of $18.22 and a 52-week high of $31.43. The stock has a 50-day moving average of $28.49 and a 200-day moving average of $24.10. The company has a market cap of $3.986 billion and a price-to-earnings ratio of 12.62.
Ultra Petroleum Corp. (NYSE:UPL) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.66 by $0.04. The company had revenue of $326.30 million for the quarter, compared to the consensus estimate of $290.60 million. During the same quarter last year, the company posted $0.38 earnings per share. Ultra Petroleum Corp.’s revenue was up 44.6% compared to the same quarter last year. On average, analysts predict that Ultra Petroleum Corp. will post $2.91 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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