First Manhattan Co. Sells 980,403 Shares of Ultra Petroleum Corp (UPL)
First Manhattan Co. reduced its stake in shares of Ultra Petroleum Corp (NASDAQ:UPL) by 40.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,435,056 shares of the company’s stock after selling 980,403 shares during the period. First Manhattan Co. owned 0.73% of Ultra Petroleum worth $1,090,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Disciplined Growth Investors Inc. MN grew its position 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 valued at $17,146,000 after purchasing an additional 1,212,158 shares during the last quarter. Ibex Investors LLC acquired a new stake in shares of Ultra Petroleum in the third quarter valued at about $1,087,000. Dimensional Fund Advisors LP grew its position in shares of Ultra Petroleum by 22.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,881,003 shares of the company’s stock valued at $8,965,000 after purchasing an additional 708,536 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Ultra Petroleum by 57.3% in the third quarter. JPMorgan Chase & Co. now owns 1,342,209 shares of the company’s stock valued at $1,503,000 after purchasing an additional 488,690 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Ultra Petroleum by 72.1% in the third quarter. Hsbc Holdings PLC now owns 866,738 shares of the company’s stock valued at $971,000 after purchasing an additional 363,074 shares during the last quarter. Institutional investors own 82.82% of the company’s stock.
Separately, Zacks Investment Research raised Ultra Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. Ultra Petroleum presently has a consensus rating of “Hold” and an average target price of $1.63.
Ultra Petroleum (NASDAQ:UPL) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Ultra Petroleum had a negative return on equity of 18.50% and a net margin of 16.40%. The company had revenue of $203.78 million for the quarter, compared to the consensus estimate of $199.80 million. Sell-side analysts predict that Ultra Petroleum Corp will post 0.69 EPS for the current year.
Ultra Petroleum 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 Wyomingthe Pinedale and Jonah fields; and its oil reserves in the Uinta Basin in northeast Utah.
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