Ultra Petroleum Corp (UPL) Stock Rating Lowered by Zacks Investment Research

Ultra Petroleum Corp (NYSE:UPL) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.

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 began coverage on shares of Ultra Petroleum Corp in a research report on Tuesday, August 29th. They issued a “buy” rating and a $14.00 target price for the company.

Shares of Ultra Petroleum Corp (NYSE UPL) opened at $8.65 on Friday. Ultra Petroleum Corp has a 12-month low of $0.16 and a 12-month high of $8.75.

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

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In other Ultra Petroleum Corp news, major shareholder Fir Tree Inc. purchased 100,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were acquired at an average price of $8.00 per share, for a total transaction of $800,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought a total of 6,018,620 shares of company stock worth $48,152,106 in the last 90 days.

Institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. bought a new position in shares of Ultra Petroleum Corp during the 2nd quarter valued at $102,000. Woodstock Corp bought a new position in shares of Ultra Petroleum Corp during the 2nd quarter valued at $112,000. Financial Advisory Group bought a new position in shares of Ultra Petroleum Corp during the 2nd quarter valued at $112,000. Cetera Investment Advisers bought a new position in shares of Ultra Petroleum Corp during the 2nd quarter valued at $122,000. Finally, Keybank National Association OH bought a new position in shares of Ultra Petroleum Corp during the 2nd quarter valued at $136,000.

Ultra Petroleum Corp Company Profile

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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