Ultra Petroleum Corp (NYSE:UPL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.

According to Zacks, “Ultra Petroleum Corp. is an energy company. It engaged in domestic natural gas and oil exploration, development and production. Ultra Petroleum Corp. is based in Houston, United States. “

Separately, Stifel Nicolaus upgraded Ultra Petroleum Corp from a “hold” rating to a “buy” rating in a research report on Monday, June 12th.

Shares of Ultra Petroleum Corp (UPL) traded down 4.620% during mid-day trading on Wednesday, hitting $10.425. The stock had a trading volume of 1,610,709 shares. The firm has a 50 day moving average of $11.31 and a 200-day moving average of $11.28. Ultra Petroleum Corp has a one year low of $9.54 and a one year high of $12.39. The stock’s market cap is $2.05 billion.

Ultra Petroleum Corp (NYSE:UPL) last announced its quarterly earnings data on Wednesday, May 3rd. The oil and gas exploration company reported $1.49 EPS for the quarter. The company had revenue of $220.96 million for the quarter. Equities research analysts expect that Ultra Petroleum Corp will post $2.80 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the company. ICON Advisers increased its position in shares of Ultra Petroleum Corp by 107.5% in the third quarter. ICON Advisers now owns 1,126,100 shares of the oil and gas exploration company’s stock worth $7,196,000 after buying an additional 583,300 shares during the last quarter. Russell Frank Co increased its position in shares of Ultra Petroleum Corp by 524.4% in the fourth quarter. Russell Frank Co now owns 1,193,338 shares of the oil and gas exploration company’s stock worth $2,912,000 after buying an additional 1,002,232 shares during the last quarter. First Trust Advisors LP increased its position in shares of Ultra Petroleum Corp by 99.2% in the fourth quarter. First Trust Advisors LP now owns 1,904,494 shares of the oil and gas exploration company’s stock worth $4,761,000 after buying an additional 948,340 shares during the last quarter. Oxford Asset Management bought a new position in shares of Ultra Petroleum Corp during the fourth quarter worth approximately $2,305,000. Finally, CI Investments Inc. increased its position in shares of Ultra Petroleum Corp by 28.6% in the fourth quarter. CI Investments Inc. now owns 12,673,233 shares of the oil and gas exploration company’s stock worth $31,683,000 after buying an additional 2,815,000 shares during the last quarter.

About Ultra Petroleum Corp

Ultra Petroleum Corp. (Ultra) is an oil and gas company. The Company is engaged in the development, production, operation, exploration and acquisition of oil and natural gas properties. Its principal business activities are developing its natural gas reserves in the Green River Basin of southwest Wyoming-the Pinedale and Jonah fields, its oil reserves in the Uinta Basin in northeast Utah and its natural gas reserves in the north-central Pennsylvania area of the Appalachian Basin.

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