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Ultra Petroleum Corp. (NYSE:UPL) was upgraded by Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating in a research note issued on Friday, reports.

UPL has been the subject of a number of other recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Ultra Petroleum Corp. in a research note on Monday, August 4th. They now have a $24.00 price target on the stock, up previously from $21.00. Separately, analysts at RBC Capital cut their price target on shares of Ultra Petroleum Corp. from $30.00 to $27.00 in a research note on Friday, August 1st. Finally, analysts at Tudor Pickering upgraded shares of Ultra Petroleum Corp. from a “trim” rating to a “hold” rating in a research note on Friday, August 1st. Ten investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $29.27.

Shares of Ultra Petroleum Corp. (NYSE:UPL) opened at 23.11 on Friday. 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 $25.49 and a 200-day moving average of $26.48. The company has a market cap of $3.541 billion and a price-to-earnings ratio of 11.43.

Ultra Petroleum Corp. (NYSE:UPL) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.52 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.53 by $0.01. The company had revenue of $296.10 million for the quarter, compared to the consensus estimate of $275.60 million. During the same quarter last year, the company posted $0.47 earnings per share. Ultra Petroleum Corp.’s revenue was up 13.3% compared to the same quarter last year. Analysts expect that Ultra Petroleum Corp. will post $2.74 EPS 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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