Ultra Petroleum (NASDAQ:UPL) was downgraded by equities research analysts at National Alliance Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, The Fly reports.
A number of other research analysts have also issued reports on UPL. Stifel Nicolaus set a $3.00 target price on shares of Ultra Petroleum and gave the company a “buy” rating in a research note on Tuesday, April 24th. Zacks Investment Research lowered shares of Ultra Petroleum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 25th. ValuEngine lowered shares of Ultra Petroleum from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, Capital One Financial lowered shares of Ultra Petroleum from an “equal weight” rating to an “underweight” rating in a research report on Thursday, May 10th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $1.63.
Ultra Petroleum stock opened at $1.26 on Friday. The firm has a market cap of $344.84 million, a PE ratio of 0.62 and a beta of 1.04. The company has a current ratio of 0.57, a quick ratio of 0.50 and a debt-to-equity ratio of -1.93. Ultra Petroleum has a 1-year low of $1.08 and a 1-year high of $10.18.
Ultra Petroleum (NASDAQ:UPL) last posted its earnings results on Thursday, August 9th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Ultra Petroleum had a net margin of 35.07% and a negative return on equity of 24.19%. research analysts expect that Ultra Petroleum will post 0.9 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its position in shares of Ultra Petroleum by 3.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 908,476 shares of the company’s stock valued at $2,099,000 after acquiring an additional 32,221 shares in the last quarter. IPG Investment Advisors LLC acquired a new stake in shares of Ultra Petroleum during the 2nd quarter valued at about $254,000. SG Americas Securities LLC boosted its position in shares of Ultra Petroleum by 2,751.5% during the 2nd quarter. SG Americas Securities LLC now owns 1,267,394 shares of the company’s stock valued at $2,928,000 after acquiring an additional 1,222,948 shares in the last quarter. First Manhattan Co. boosted its position in shares of Ultra Petroleum by 16.3% during the 2nd quarter. First Manhattan Co. now owns 2,194,404 shares of the company’s stock valued at $5,069,000 after acquiring an additional 307,900 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ultra Petroleum during the 1st quarter valued at about $242,000.
About Ultra Petroleum
Ultra Petroleum Corp., an independent oil and gas company, engages in the acquisition, exploration, development, operation, and production 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; and its oil reserves in the Uinta Basin in northeast Utah.
Featured Story: Are analyst ratings accurate?
Receive News & Ratings for Ultra Petroleum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ultra Petroleum and related companies with MarketBeat.com's FREE daily email newsletter.