Ultra Petroleum (UPL) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Ultra Petroleum (NASDAQ:UPL) issued its earnings results on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02, MarketWatch Earnings reports. Ultra Petroleum had a negative net margin of 23.49% and a negative return on equity of 21.81%. The business had revenue of $203.78 million during the quarter, compared to analysts’ expectations of $199.80 million.

Ultra Petroleum stock traded down $0.03 during trading hours on Friday, reaching $1.53. 72,368 shares of the stock were exchanged, compared to its average volume of 3,287,412. The company has a market cap of $317.26 million, a P/E ratio of 0.74 and a beta of -0.60. Ultra Petroleum has a 52-week low of $0.82 and a 52-week high of $10.18.

A number of institutional investors have recently made changes to their positions in UPL. SG Americas Securities LLC raised its position in Ultra Petroleum by 2,751.5% during the 2nd quarter. SG Americas Securities LLC now owns 1,267,394 shares of the company’s stock worth $2,928,000 after buying an additional 1,222,948 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in Ultra Petroleum by 7.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 14,096,583 shares of the company’s stock worth $32,355,000 after buying an additional 978,478 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Ultra Petroleum by 22.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,881,003 shares of the company’s stock worth $8,965,000 after buying an additional 708,536 shares during the last quarter. Wolverine Asset Management LLC raised its position in Ultra Petroleum by 75.5% during the 2nd quarter. Wolverine Asset Management LLC now owns 1,540,069 shares of the company’s stock worth $3,557,000 after buying an additional 662,727 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Ultra Petroleum by 57.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,342,209 shares of the company’s stock worth $1,503,000 after buying an additional 488,690 shares during the last quarter. Institutional investors own 90.69% of the company’s stock.

A number of brokerages recently weighed in on UPL. Zacks Investment Research upgraded shares of Ultra Petroleum from a “sell” rating to a “hold” rating in a research note on Tuesday, July 24th. National Alliance Securities cut shares of Ultra Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Capital One Financial cut shares of Ultra Petroleum from an “equal weight” rating to an “underweight” rating in a research note on Friday, August 10th. Finally, ValuEngine cut shares of Ultra Petroleum from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company has a consensus rating of “Sell” and an average price target of $1.63.

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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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Earnings History for Ultra Petroleum (NASDAQ:UPL)

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