An issue of Ultra Petroleum Corp (NASDAQ:UPL) bonds rose 1.3% as a percentage of their face value during trading on Thursday. The high-yield issue of debt has a 6.875% coupon and will mature on April 15, 2022. The bonds in the issue are now trading at $48.50 and were trading at $51.25 one week ago. Price changes in a company’s bonds in credit markets often predict parallel changes in its stock price.
UPL has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Ultra Petroleum from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 15th. Capital One Financial lowered shares of Ultra Petroleum from an “equal weight” rating to an “underweight” rating in a research note on Friday, August 10th. ValuEngine lowered shares of Ultra Petroleum from a “sell” rating to a “strong sell” rating in a research note on Friday, September 7th. Finally, National Alliance Securities lowered shares of Ultra Petroleum from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Ultra Petroleum currently has a consensus rating of “Sell” and a consensus price target of $1.63.
NASDAQ:UPL traded down $0.04 during midday trading on Thursday, hitting $0.93. 6,634,900 shares of the company were exchanged, compared to its average volume of 4,104,914. Ultra Petroleum Corp has a fifty-two week low of $0.82 and a fifty-two week high of $10.18. The company has a debt-to-equity ratio of -1.95, a current ratio of 0.50 and a quick ratio of 0.43. The firm has a market capitalization of $250.26 million, a P/E ratio of 0.44 and a beta of 0.59.
Ultra Petroleum (NASDAQ:UPL) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.01). Ultra Petroleum had a negative return on equity of 21.81% and a negative net margin of 23.49%. The company had revenue of $190.14 million for the quarter, compared to analyst estimates of $202.80 million. sell-side analysts anticipate that Ultra Petroleum Corp will post 0.74 EPS for the current year.
Institutional investors have recently modified their holdings of the business. Jane Street Group LLC grew its position in Ultra Petroleum by 227.4% during the 2nd quarter. Jane Street Group LLC now owns 50,269 shares of the company’s stock worth $116,000 after purchasing an additional 89,712 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Ultra Petroleum during the 1st quarter worth $242,000. Legal & General Group Plc grew its position in Ultra Petroleum by 89.0% during the 1st quarter. Legal & General Group Plc now owns 92,482 shares of the company’s stock worth $385,000 after purchasing an additional 43,553 shares during the last quarter. IPG Investment Advisors LLC purchased a new position in Ultra Petroleum during the 2nd quarter worth $254,000. Finally, Freestone Capital Holdings LLC purchased a new position in Ultra Petroleum during the 1st quarter worth $507,000. 90.61% of the stock is currently owned by institutional investors.
About Ultra Petroleum (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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