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Ultra Petroleum (UPL) Stock Rating Upgraded by Zacks Investment Research

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Ultra Petroleum (NASDAQ:UPL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.

According to Zacks, “Ultra Petroleum Corp. is an energy company. It engaged in domestic natural gas and oil exploration, development and production. Ultra Petroleum Corp. is based in Houston, United States. “

Shares of NASDAQ:UPL opened at $0.72 on Friday. Ultra Petroleum has a 52 week low of $0.56 and a 52 week high of $6.38. The company has a market capitalization of $141.39 million, a price-to-earnings ratio of 0.35 and a beta of 0.91.

Ultra Petroleum (NASDAQ:UPL) last announced its quarterly earnings data on Thursday, November 8th. The company reported $0.17 EPS for the quarter, beating the Zacks’ 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 company had revenue of $203.78 million for the quarter, compared to the consensus estimate of $199.80 million. As a group, equities research analysts anticipate that Ultra Petroleum will post 0.69 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new stake in shares of Ultra Petroleum in the 4th quarter valued at approximately $38,000. SG Americas Securities LLC purchased a new position in shares of Ultra Petroleum in the 4th quarter valued at $80,000. Jane Street Group LLC grew its position in shares of Ultra Petroleum by 227.4% in the 2nd quarter. Jane Street Group LLC now owns 50,269 shares of the company’s stock valued at $116,000 after buying an additional 89,712 shares during the last quarter. Rhumbline Advisers grew its position in shares of Ultra Petroleum by 38.0% in the 4th quarter. Rhumbline Advisers now owns 234,865 shares of the company’s stock valued at $178,000 after buying an additional 64,730 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Ultra Petroleum in the 2nd quarter valued at $648,000. 83.34% of the stock is currently owned by 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; and its oil reserves in the Uinta Basin in northeast Utah.

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