Ultra Petroleum Corp (UPL) Short Interest Update

Ultra Petroleum Corp (NASDAQ:UPL) saw a significant increase in short interest in April. As of April 30th, there was short interest totalling 33,014,468 shares, an increase of 6.9% from the April 15th total of 30,893,846 shares. Based on an average daily trading volume, of 1,478,488 shares, the days-to-cover ratio is presently 22.3 days. Approximately 17.2% of the shares of the stock are short sold.

Shares of UPL stock opened at $0.39 on Friday. The stock has a market capitalization of $77.18 million, a P/E ratio of 0.51 and a beta of 0.69. Ultra Petroleum has a 12 month low of $0.36 and a 12 month high of $2.42.

Ultra Petroleum (NASDAQ:UPL) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. The firm had revenue of $271.46 million during the quarter, compared to analyst estimates of $279.00 million. Ultra Petroleum had a negative return on equity of 11.65% and a net margin of 8.35%. Analysts anticipate that Ultra Petroleum will post 0.37 EPS for the current year.

A number of analysts recently commented on UPL shares. Stifel Nicolaus set a $1.00 price objective on Ultra Petroleum and gave the stock a “hold” rating in a research report on Wednesday, February 20th. Zacks Investment Research upgraded Ultra Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $1.63.

In other Ultra Petroleum news, insider J. Jay Jr. Stratton bought 80,000 shares of the stock in a transaction dated Thursday, April 11th. The stock was bought at an average cost of $0.55 per share, for a total transaction of $44,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David W. Honeyfield bought 60,000 shares of the stock in a transaction dated Friday, March 29th. The stock was acquired at an average price of $0.61 per share, with a total value of $36,600.00. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new stake in Ultra Petroleum in the fourth quarter worth about $38,000. Wambolt & Associates LLC acquired a new stake in Ultra Petroleum in the first quarter worth about $35,000. Rhumbline Advisers boosted its holdings in Ultra Petroleum by 38.0% during the fourth quarter. Rhumbline Advisers now owns 234,865 shares of the company’s stock worth $178,000 after buying an additional 64,730 shares during the last quarter. Squarepoint Ops LLC bought a new position in Ultra Petroleum during the fourth quarter worth about $79,000. Finally, SG Americas Securities LLC bought a new position in Ultra Petroleum during the fourth quarter worth about $80,000. Hedge funds and other institutional investors own 73.05% of the company’s stock.

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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.

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