ValuEngine downgraded shares of Ultra Petroleum (NASDAQ:UPL) from a sell rating to a strong sell rating in a research report sent to investors on Friday.

UPL has been the subject of a number of other reports. Zacks Investment Research lowered Ultra Petroleum from a strong-buy rating to a hold rating in a research report on Saturday, July 7th. Capital One Financial lowered Ultra Petroleum from an equal weight rating to an underweight rating in a research report on Thursday, May 10th. National Alliance Securities lowered Ultra Petroleum from a buy rating to a hold rating in a research report on Friday, August 10th. Finally, Stifel Nicolaus lowered Ultra Petroleum from a buy rating to a hold rating and decreased their target price for the company from $3.00 to $1.00 in a research report on Friday, May 25th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Ultra Petroleum currently has an average rating of Hold and an average target price of $1.63.

Shares of NASDAQ UPL opened at $1.09 on Friday. The company has a debt-to-equity ratio of -1.95, a current ratio of 0.50 and a quick ratio of 0.43. The firm has a market cap of $227.60 million, a price-to-earnings ratio of 0.54 and a beta of 0.59. Ultra Petroleum has a twelve month low of $0.92 and a twelve month high of $10.18.

Ultra Petroleum (NASDAQ:UPL) last issued its earnings results on Thursday, August 9th. The company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.01). The firm had revenue of $190.14 million for the quarter, compared to the consensus estimate of $202.80 million. Ultra Petroleum had a negative net margin of 23.49% and a negative return on equity of 21.81%. research analysts expect that Ultra Petroleum will post 0.79 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in UPL. Disciplined Growth Investors Inc. MN raised its position in shares of Ultra Petroleum by 1,120.6% in the 1st quarter. Disciplined Growth Investors Inc. MN now owns 13,118,105 shares of the company’s stock worth $54,321,000 after acquiring an additional 12,043,389 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Ultra Petroleum by 2,751.5% in the 2nd quarter. SG Americas Securities LLC now owns 1,267,394 shares of the company’s stock worth $2,928,000 after acquiring an additional 1,222,948 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Ultra Petroleum by 32.6% in the 1st quarter. Victory Capital Management Inc. now owns 4,337,148 shares of the company’s stock worth $18,085,000 after acquiring an additional 1,065,441 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ultra Petroleum by 22.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,881,003 shares of the company’s stock worth $8,965,000 after acquiring an additional 708,536 shares in the last quarter. Finally, Wolverine Asset Management LLC raised its position in shares of Ultra Petroleum by 75.5% in the 2nd quarter. Wolverine Asset Management LLC now owns 1,540,069 shares of the company’s stock worth $3,557,000 after acquiring an additional 662,727 shares in the last quarter. 90.62% of the stock is owned by hedge funds and other institutional investors.

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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