Zacks: Ultra Petroleum Corp (UPL) Receives Consensus Recommendation of “Sell” from Brokerages

Shares of Ultra Petroleum Corp (NASDAQ:UPL) have been assigned a consensus broker rating score of 4.00 (Sell) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation and one has issued a hold recommendation on the company.

Brokerages have set a 12-month consensus price target of $1.30 for the company and are expecting that the company will post $0.09 earnings per share for the current quarter, according to Zacks. Zacks has also given Ultra Petroleum an industry rank of 59 out of 256 based on the ratings given to related companies.

Separately, Stifel Nicolaus set a $1.00 price target on shares of Ultra Petroleum and gave the company a “hold” rating in a report on Wednesday, February 20th.

In other Ultra Petroleum news, insider David W. Honeyfield acquired 60,000 shares of Ultra Petroleum stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider J. Jay Jr. Stratton acquired 80,000 shares of Ultra Petroleum stock in a transaction that occurred on Thursday, April 11th. The stock was acquired at an average cost of $0.55 per share, with a total value of $44,000.00. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Wambolt & Associates LLC bought a new stake in Ultra Petroleum during the first quarter worth about $35,000. Squarepoint Ops LLC acquired a new position in shares of Ultra Petroleum during the fourth quarter worth approximately $79,000. IPG Investment Advisors LLC lifted its position in shares of Ultra Petroleum by 1,200.0% during the first quarter. IPG Investment Advisors LLC now owns 130,000 shares of the company’s stock worth $79,000 after purchasing an additional 120,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Ultra Petroleum during the fourth quarter worth approximately $80,000. Finally, Spark Investment Management LLC lifted its position in shares of Ultra Petroleum by 208.5% during the first quarter. Spark Investment Management LLC now owns 269,900 shares of the company’s stock worth $164,000 after purchasing an additional 182,400 shares in the last quarter. 70.97% of the stock is owned by institutional investors and hedge funds.

NASDAQ UPL traded up $0.01 on Wednesday, hitting $0.38. 10,838 shares of the stock were exchanged, compared to its average volume of 1,547,191. Ultra Petroleum has a 52-week low of $0.36 and a 52-week high of $2.42. The stock has a market cap of $72.93 million, a price-to-earnings ratio of 0.50 and a beta of 0.61.

Ultra Petroleum (NASDAQ:UPL) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.14 earnings per share for the quarter, hitting the consensus estimate of $0.14. Ultra Petroleum had a net margin of 8.35% and a negative return on equity of 11.65%. The firm had revenue of $271.46 million for the quarter, compared to analysts’ expectations of $279.00 million. On average, equities research analysts expect that Ultra Petroleum will post 0.36 earnings per share for the current fiscal year.

Ultra Petroleum Company Profile

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.

Further Reading: Commodities

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