Brokerages Expect Ultra Petroleum Corp (UPL) to Announce $0.14 EPS

Ultra Petroleum Corp (NASDAQ:UPL) has been given a consensus broker rating score of 4.00 (Sell) from the two analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation and one has issued a hold recommendation on the company.

Brokerages have set a 1 year consensus target price of $1.40 for the company and are anticipating that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also given Ultra Petroleum an industry rank of 38 out of 256 based on the ratings given to related companies.

UPL has been the topic of several recent analyst reports. Stifel Nicolaus set a $1.00 target price on shares of Ultra Petroleum and gave the stock a “hold” rating in a research report on Wednesday, February 20th. Zacks Investment Research upgraded shares of Ultra Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd.

Shares of UPL opened at $0.40 on Friday. Ultra Petroleum has a twelve month low of $0.40 and a twelve month high of $2.74. The stock has a market cap of $82.98 million, a price-to-earnings ratio of 0.53 and a beta of 0.69.

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

In other Ultra Petroleum news, insider J. Jay Jr. Stratton purchased 80,000 shares of the stock in a transaction dated Thursday, April 11th. The shares were acquired at an average cost of $0.55 per share, for a total transaction of $44,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David W. Honeyfield purchased 60,000 shares of the stock in a transaction dated Friday, March 29th. The stock was acquired at an average price of $0.61 per share, for a total transaction of $36,600.00. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in UPL. FNY Investment Advisers LLC purchased a new position in shares of Ultra Petroleum during the fourth quarter valued at approximately $38,000. Wambolt & Associates LLC purchased a new position in shares of Ultra Petroleum during the first quarter valued at approximately $35,000. Squarepoint Ops LLC purchased a new position in shares of Ultra Petroleum during the fourth quarter valued at approximately $79,000. SG Americas Securities LLC purchased a new position in shares of Ultra Petroleum during the fourth quarter valued at approximately $80,000. Finally, Rhumbline Advisers lifted its stake in shares of Ultra Petroleum by 38.0% during the fourth quarter. Rhumbline Advisers now owns 234,865 shares of the company’s stock valued at $178,000 after buying an additional 64,730 shares during the period. Institutional investors and hedge funds own 75.32% of the company’s stock.

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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