Ultra Petroleum Corp (UPL) Given $1.65 Consensus Target Price by Analysts

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

Brokers have set a 1-year consensus target price of $1.65 for the company and are predicting that the company will post $0.12 earnings per share for the current quarter, according to Zacks. Zacks has also given Ultra Petroleum an industry rank of 234 out of 256 based on the ratings given to related companies.

A number of research analysts have commented on the company. ValuEngine lowered Ultra Petroleum from a “sell” rating to a “strong sell” rating in a research report on Friday, September 7th. Zacks Investment Research raised Ultra Petroleum from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st.

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC grew its holdings in shares of Ultra Petroleum by 227.4% during the 2nd quarter. Jane Street Group LLC now owns 50,269 shares of the company’s stock worth $116,000 after acquiring an additional 89,712 shares during the period. Millennium Management LLC purchased a new position in shares of Ultra Petroleum during the 2nd quarter worth approximately $648,000. Hsbc Holdings PLC grew its holdings in shares of Ultra Petroleum by 72.1% during the 3rd quarter. Hsbc Holdings PLC now owns 866,738 shares of the company’s stock worth $971,000 after acquiring an additional 363,074 shares during the period. Paloma Partners Management Co grew its holdings in shares of Ultra Petroleum by 35.6% during the 3rd quarter. Paloma Partners Management Co now owns 878,200 shares of the company’s stock worth $984,000 after acquiring an additional 230,402 shares during the period. Finally, BlueMountain Capital Management LLC purchased a new position in shares of Ultra Petroleum during the 2nd quarter worth approximately $1,054,000. Hedge funds and other institutional investors own 83.36% of the company’s stock.

UPL opened at $0.89 on Wednesday. The company has a market cap of $149.78 million, a price-to-earnings ratio of 0.44 and a beta of 0.98. Ultra Petroleum has a one year low of $0.56 and a one year high of $9.19.

Ultra Petroleum (NASDAQ:UPL) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $203.78 million during the quarter, compared to analyst estimates of $199.80 million. Ultra Petroleum had a negative return on equity of 18.50% and a net margin of 16.40%. On average, equities research analysts forecast that Ultra Petroleum will post 0.74 earnings per share for the current fiscal year.

About Ultra Petroleum

Ultra Petroleum Corp. engages in the development, production, operation, exploration, and acquisition of oil and natural gas properties. It focuses on developing a tight gas sand trend located in the Green River Basin of southwest Wyoming; and assessing, exploring, and developing its position in the Marcellus Shale and other horizons located in the north-central Pennsylvania area of the Appalachian Basin of Pennsylvania.

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