Ultra Petroleum Corp (UPL) Short Interest Up 7.0% in August
Ultra Petroleum Corp (NASDAQ:UPL) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 36,571,635 shares, a growth of 7.0% from the August 15th total of 34,189,528 shares. Based on an average daily volume of 2,588,145 shares, the days-to-cover ratio is presently 14.1 days. Currently, 18.9% of the company’s shares are short sold.
Shares of UPL stock opened at $1.18 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 stock has a market capitalization of $242.38 million, a PE ratio of 0.58 and a beta of 0.59. Ultra Petroleum has a one year low of $0.92 and a one year high of $10.18.
Ultra Petroleum (NASDAQ:UPL) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $190.14 million during 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%. sell-side analysts expect that Ultra Petroleum will post 0.79 earnings per share for the current fiscal year.
Several analysts have weighed in on the company. Capital One Financial cut Ultra Petroleum from an “equal weight” rating to an “underweight” rating in a report on Friday, August 10th. Zacks Investment Research raised Ultra Petroleum from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 6th. Stifel Nicolaus cut Ultra Petroleum from a “buy” rating to a “hold” rating and lowered their price target for the company from $3.00 to $1.00 in a research note on Friday, May 25th. ValuEngine cut Ultra Petroleum from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. Finally, National Alliance Securities cut Ultra Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $1.63.
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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