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Ultra Petroleum Corp (UPL) Shares Sold by BlackRock Inc.

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BlackRock Inc. cut its stake in shares of Ultra Petroleum Corp (NASDAQ:UPL) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,896,330 shares of the company’s stock after selling 38,917 shares during the quarter. BlackRock Inc. owned about 6.04% of Ultra Petroleum worth $13,326,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in UPL. Dimensional Fund Advisors LP grew its holdings in shares of Ultra Petroleum by 22.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,881,003 shares of the company’s stock valued at $8,965,000 after buying an additional 708,536 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Ultra Petroleum by 57.3% in the third quarter. JPMorgan Chase & Co. now owns 1,342,209 shares of the company’s stock valued at $1,503,000 after purchasing an additional 488,690 shares during the last quarter. Millennium Management LLC purchased a new stake in Ultra Petroleum in the second quarter valued at $648,000. First Manhattan Co. boosted its holdings in Ultra Petroleum by 10.1% in the third quarter. First Manhattan Co. now owns 2,415,459 shares of the company’s stock valued at $2,705,000 after purchasing an additional 221,055 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in Ultra Petroleum by 227.4% in the second quarter. Jane Street Group LLC now owns 50,269 shares of the company’s stock valued at $116,000 after purchasing an additional 89,712 shares during the last quarter. 83.34% of the stock is currently owned by hedge funds and other institutional investors.

UPL stock opened at $0.73 on Wednesday. Ultra Petroleum Corp has a 52-week low of $0.56 and a 52-week high of $8.15. The stock has a market cap of $152.04 million, a PE ratio of 0.36 and a beta of 0.97.

Ultra Petroleum (NASDAQ:UPL) last posted its earnings results on Thursday, November 8th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. Ultra Petroleum had a net margin of 16.40% and a negative return on equity of 18.50%. The business had revenue of $203.78 million for the quarter, compared to analyst estimates of $199.80 million. As a group, research analysts predict that Ultra Petroleum Corp will post 0.73 earnings per share for the current year.

Separately, Zacks Investment Research raised shares of Ultra Petroleum from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $1.63.

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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.

Featured Story: How are Outstanding Shares Different from Authorized Shares?

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Institutional Ownership by Quarter for Ultra Petroleum (NASDAQ:UPL)

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