Ultra Petroleum Corp (UPL) Shares Bought by First Manhattan Co.

First Manhattan Co. raised its holdings in Ultra Petroleum Corp (NASDAQ:UPL) by 26.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,809,180 shares of the company’s stock after purchasing an additional 374,124 shares during the quarter. First Manhattan Co.’s holdings in Ultra Petroleum were worth $1,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Disciplined Growth Investors Inc. MN grew its stake 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 buying an additional 1,212,158 shares in the last quarter. BlackRock Inc. grew its stake in Ultra Petroleum by 3.1% during the 4th quarter. BlackRock Inc. now owns 12,266,878 shares of the company’s stock worth $9,326,000 after purchasing an additional 370,548 shares in the last quarter. Geode Capital Management LLC grew its stake in Ultra Petroleum by 13.5% during the 4th quarter. Geode Capital Management LLC now owns 2,072,925 shares of the company’s stock worth $1,575,000 after purchasing an additional 246,147 shares in the last quarter. JPMorgan Chase & Co. grew its stake 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 purchasing an additional 488,690 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Ultra Petroleum by 46.9% during the 4th quarter. Hsbc Holdings PLC now owns 1,273,364 shares of the company’s stock worth $968,000 after purchasing an additional 406,626 shares in the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

Shares of UPL stock opened at $0.55 on Wednesday. The company has a market cap of $108.74 million, a PE ratio of 0.72 and a beta of 0.92. Ultra Petroleum Corp has a 12-month low of $0.53 and a 12-month high of $3.33.

Ultra Petroleum (NASDAQ:UPL) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. The business had revenue of $273.21 million for the quarter, compared to analysts’ expectations of $241.40 million. Ultra Petroleum had a negative return on equity of 13.76% and a net margin of 9.55%. As a group, research analysts anticipate that Ultra Petroleum Corp will post 0.38 earnings per share for the current year.

Several research analysts have recently issued reports on UPL shares. Stifel Nicolaus set a $1.00 price objective on Ultra Petroleum and gave the stock a “hold” rating in a research report on Wednesday, February 20th. Zacks Investment Research raised Ultra Petroleum from a “sell” rating to a “hold” rating in a research note on Saturday, February 2nd. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $1.63.

In other news, insider David W. Honeyfield bought 60,000 shares of the business’s stock in a transaction that occurred on Friday, March 29th. The shares were acquired at an average cost of $0.61 per share, with a total value of $36,600.00. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider J. Jay Jr. Stratton bought 80,000 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was purchased at an average cost of $0.55 per share, for a total transaction of $44,000.00. The disclosure for this purchase can be found here. Corporate insiders own 3.40% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Ultra Petroleum (NASDAQ:UPL)

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