Zacks Investment Research Lowers Ultra Petroleum Corp (UPL) to Strong Sell

Zacks Investment Research downgraded shares of Ultra Petroleum Corp (NYSE:UPL) from a hold rating to a strong sell rating in a research note released on Friday morning.

According to Zacks, “Ultra Petroleum Corp. is an energy company. It engaged in domestic natural gas and oil exploration, development and production. Ultra Petroleum Corp. is based in Houston, United States. “

Separately, KLR Group initiated coverage on shares of Ultra Petroleum Corp in a report on Tuesday, August 29th. They issued a buy rating and a $14.00 price target on the stock.

Ultra Petroleum Corp (NYSE:UPL) opened at $8.41 on Friday. Ultra Petroleum Corp has a fifty-two week low of $0.16 and a fifty-two week high of $8.75.

Ultra Petroleum Corp (NYSE:UPL) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas exploration company reported $0.40 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.05). The business had revenue of $217.63 million for the quarter, compared to analysts’ expectations of $209.20 million.

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In other Ultra Petroleum Corp news, major shareholder Fir Tree Inc. bought 1,323,900 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were purchased at an average price of $7.81 per share, for a total transaction of $10,339,659.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 6,018,620 shares of company stock worth $48,152,106.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. OxFORD Asset Management LLP acquired a new stake in shares of Ultra Petroleum Corp during the 3rd quarter worth approximately $373,000. Dimensional Fund Advisors LP acquired a new stake in shares of Ultra Petroleum Corp during the 3rd quarter worth approximately $16,235,000. Moneta Group Investment Advisors LLC acquired a new stake in shares of Ultra Petroleum Corp during the 3rd quarter worth approximately $213,000. Brandes Investment Partners LP acquired a new stake in shares of Ultra Petroleum Corp during the 3rd quarter worth approximately $103,000. Finally, Tiedemann Wealth Management LLC boosted its position in shares of Ultra Petroleum Corp by 482.8% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 140,899 shares of the oil and gas exploration company’s stock worth $281,000 after acquiring an additional 116,721 shares in the last quarter.

About Ultra Petroleum Corp

Ultra Petroleum Corp. (Ultra) is an oil and gas company. The Company is engaged in the development, production, operation, exploration and acquisition 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, its oil reserves in the Uinta Basin in northeast Utah and its natural gas reserves in the north-central Pennsylvania area of the Appalachian Basin.

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