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Zacks: Ultra Petroleum Corp (UPL) Given Consensus Recommendation of “Sell” by Brokerages

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

Brokerages have set a 12-month consensus target price of $1.50 for the company and are predicting that the company will post $0.11 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Ultra Petroleum an industry rank of 243 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised Ultra Petroleum from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Disciplined Growth Investors Inc. MN grew its stake in Ultra Petroleum by 8.6% in the third quarter. Disciplined Growth Investors Inc. MN now owns 15,308,741 shares of the company’s stock worth $17,146,000 after purchasing an additional 1,212,158 shares in the last quarter. Ibex Investors LLC bought a new position in Ultra Petroleum in the third quarter worth approximately $1,087,000. Dimensional Fund Advisors LP grew its stake in Ultra Petroleum by 22.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,881,003 shares of the company’s stock worth $8,965,000 after purchasing an additional 708,536 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Ultra Petroleum by 57.3% in the third quarter. JPMorgan Chase & Co. now owns 1,342,209 shares of the company’s stock worth $1,503,000 after purchasing an additional 488,690 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Ultra Petroleum by 72.1% in the third quarter. Hsbc Holdings PLC now owns 866,738 shares of the company’s stock worth $971,000 after purchasing an additional 363,074 shares in the last quarter. 83.36% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ UPL traded down $0.08 during trading hours on Thursday, hitting $0.91. 3,101,100 shares of the company were exchanged, compared to its average volume of 3,262,607. Ultra Petroleum has a 52 week low of $0.56 and a 52 week high of $8.70. The stock has a market capitalization of $196.09 million, a P/E ratio of 0.45 and a beta of 0.97.

Ultra Petroleum (NASDAQ:UPL) last issued its quarterly earnings data on Thursday, November 8th. The company reported $0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Ultra Petroleum had a negative return on equity of 18.50% and a net margin of 16.40%. The company had revenue of $203.78 million for the quarter, compared to analysts’ expectations of $199.80 million. As a group, equities analysts predict that Ultra Petroleum will post 0.73 EPS for the current 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; and its oil reserves in the Uinta Basin in northeast Utah.

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