An issue of Ultra Petroleum Corp (NASDAQ:UPL) debt fell 2.2% as a percentage of its face value during trading on Wednesday. The high-yield debt issue has a 6.875% coupon and is set to mature on April 15, 2022. The debt is now trading at $47.25 and was trading at $51.50 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.
A number of research analysts recently commented on UPL shares. Zacks Investment Research cut Ultra Petroleum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 15th. Capital One Financial cut Ultra Petroleum from an “equal weight” rating to an “underweight” rating in a research note on Friday, August 10th. ValuEngine cut Ultra Petroleum from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. Finally, National Alliance Securities cut Ultra Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock presently has a consensus rating of “Sell” and a consensus price target of $1.63.
NASDAQ UPL traded down $0.29 during trading on Wednesday, hitting $0.98. 8,904,400 shares of the company’s stock traded hands, compared to its average volume of 4,091,278. The company has a quick ratio of 0.43, a current ratio of 0.50 and a debt-to-equity ratio of -1.95. Ultra Petroleum Corp has a 12-month low of $0.92 and a 12-month high of $10.18. The firm has a market cap of $244.35 million, a price-to-earnings ratio of 0.52 and a beta of 0.59.
Ultra Petroleum (NASDAQ:UPL) last posted its quarterly earnings results on Thursday, August 9th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Ultra Petroleum had a negative net margin of 23.49% and a negative return on equity of 21.81%. The business had revenue of $190.14 million for the quarter, compared to analysts’ expectations of $202.80 million. equities analysts expect that Ultra Petroleum Corp will post 0.74 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of UPL. Disciplined Growth Investors Inc. MN boosted its position in Ultra Petroleum by 1,120.6% during the first quarter. Disciplined Growth Investors Inc. MN now owns 13,118,105 shares of the company’s stock valued at $54,321,000 after buying an additional 12,043,389 shares during the period. SG Americas Securities LLC boosted its position in Ultra Petroleum by 2,751.5% during the second quarter. SG Americas Securities LLC now owns 1,267,394 shares of the company’s stock valued at $2,928,000 after buying an additional 1,222,948 shares during the period. Dimensional Fund Advisors LP boosted its position in Ultra Petroleum by 22.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,881,003 shares of the company’s stock valued at $8,965,000 after buying an additional 708,536 shares during the period. Wolverine Asset Management LLC boosted its position in Ultra Petroleum by 75.5% during the second quarter. Wolverine Asset Management LLC now owns 1,540,069 shares of the company’s stock valued at $3,557,000 after buying an additional 662,727 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Ultra Petroleum by 1,007.2% during the first quarter. BNP Paribas Arbitrage SA now owns 642,015 shares of the company’s stock valued at $2,677,000 after buying an additional 584,028 shares during the period. Institutional investors and hedge funds own 90.61% of the company’s stock.
Ultra Petroleum Company Profile (NASDAQ:UPL)
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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