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Research analysts at Howard Weil boosted their price objective on shares of Ultra Petroleum Corp. (NYSE:UPL) from $30.00 to $34.00 in a report released on Thursday. The firm currently has a “sector perform” rating on the stock. Howard Weil’s price target suggests a potential upside of 23.46% from the stock’s previous close.

Ultra Petroleum Corp. (NYSE:UPL) opened at 27.54 on Thursday. 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 $28.21 and a 200-day moving average of $26.08. The company has a market cap of $4.217 billion and a P/E ratio of 13.17.

Ultra Petroleum Corp. (NYSE:UPL) last posted its quarterly earnings results 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 $2.94 earnings per share for the current fiscal year.

A number of other firms have also recently commented on UPL. Analysts at Zacks upgraded shares of Ultra Petroleum Corp. from a “neutral” rating to an “outperform” rating in a research note on Monday, June 16th. They now have a $31.00 price target on the stock. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. Ultra Petroleum Corp. has an average rating of “Hold” and a consensus price target of $29.20.

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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