Zacks: Brokerages Set $1.20 Price Target for Ultra Petroleum Corp (NASDAQ:UPL)

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

Analysts have set a 12-month consensus price target of $1.20 for the company and are anticipating that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also assigned Ultra Petroleum an industry rank of 164 out of 256 based on the ratings given to related companies.

Separately, Zacks Investment Research raised shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Saturday, July 13th.

UPL remained flat at $$0.19 during midday trading on Friday. 1,936,298 shares of the company’s stock traded hands, compared to its average volume of 6,003,071. Ultra Petroleum has a 12-month low of $0.16 and a 12-month high of $2.04. The stock has a market cap of $38.09 million, a PE ratio of 0.25 and a beta of -0.05. The stock has a 50 day moving average of $0.28.

Ultra Petroleum (NASDAQ:UPL) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.14 earnings per share for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $279.00 million. As a group, analysts predict that Ultra Petroleum will post 0.2 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Ultra Petroleum by 3.1% during the fourth quarter. BlackRock Inc. now owns 12,266,878 shares of the company’s stock worth $9,326,000 after acquiring an additional 370,548 shares in the last quarter. First Manhattan Co. increased its position in shares of Ultra Petroleum by 26.1% during the first quarter. First Manhattan Co. now owns 1,809,180 shares of the company’s stock worth $1,103,000 after acquiring an additional 374,124 shares in the last quarter. Norges Bank bought a new stake in shares of Ultra Petroleum during the fourth quarter worth about $199,000. Geode Capital Management LLC increased its position in shares of Ultra Petroleum by 13.5% during the fourth quarter. Geode Capital Management LLC now owns 2,072,925 shares of the company’s stock worth $1,575,000 after acquiring an additional 246,147 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Ultra Petroleum by 55.9% during the fourth quarter. Millennium Management LLC now owns 966,466 shares of the company’s stock worth $735,000 after acquiring an additional 346,450 shares in the last quarter. 70.93% of the stock is owned by hedge funds and other institutional investors.

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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