Ultra Petroleum (UPL) Shares Gap Up to $0.67

Ultra Petroleum Corp (NASDAQ:UPL) gapped up before the market opened on Tuesday . The stock had previously closed at $0.68, but opened at $0.67. Ultra Petroleum shares last traded at $0.69, with a volume of 24734 shares changing hands.

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

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The stock has a market capitalization of $132.03 million, a price-to-earnings ratio of 0.34 and a beta of 0.91.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its position in Ultra Petroleum by 3.1% in the fourth quarter. BlackRock Inc. now owns 12,266,878 shares of the company’s stock worth $9,326,000 after buying an additional 370,548 shares during the period. SG Americas Securities LLC acquired a new stake in Ultra Petroleum in the fourth quarter worth $80,000. Rhumbline Advisers increased its position in Ultra Petroleum by 38.0% in the fourth quarter. Rhumbline Advisers now owns 234,865 shares of the company’s stock worth $178,000 after buying an additional 64,730 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Ultra Petroleum in the fourth quarter worth $38,000. Finally, Disciplined Growth Investors Inc. MN grew its stake in shares of 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. 82.91% of the stock is currently owned by hedge funds and other institutional investors.

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Ultra Petroleum Company Profile (NASDAQ:UPL)

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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