Ultra Petroleum Corp (NYSE:UPL) major shareholder Fir Tree Inc. bought 1,549,899 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were acquired at an average price of $7.85 per share, for a total transaction of $12,166,707.15. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Fir Tree Inc. also recently made the following trade(s):

  • On Wednesday, August 23rd, Fir Tree Inc. bought 3,044,821 shares of Ultra Petroleum Corp stock. The shares were acquired at an average price of $8.16 per share, for a total transaction of $24,845,739.36.

Ultra Petroleum Corp (UPL) opened at 7.86 on Thursday. The company has a 50-day moving average price of $9.47 and a 200 day moving average price of $10.45. The company has a market cap of $1.42 billion and a PE ratio of 1.76. Ultra Petroleum Corp has a 12-month low of $7.37 and a 12-month high of $13.60.

Ultra Petroleum Corp (NYSE:UPL) last released its quarterly earnings results on Wednesday, August 9th. The oil and gas exploration company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.10. The business had revenue of $212.66 million during the quarter, compared to analyst estimates of $226.80 million. On average, analysts forecast that Ultra Petroleum Corp will post $1.28 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Woodstock Corp bought a new position in shares of Ultra Petroleum Corp during the second quarter worth about $112,000. Aperio Group LLC bought a new position in shares of Ultra Petroleum Corp during the second quarter worth about $162,000. Russell Investments Group Ltd. bought a new position in shares of Ultra Petroleum Corp during the second quarter worth about $4,783,000. Acadian Asset Management LLC bought a new position in shares of Ultra Petroleum Corp during the second quarter worth about $5,245,000. Finally, Parkwood LLC bought a new position in shares of Ultra Petroleum Corp during the second quarter worth about $461,000.

Several equities analysts recently issued reports on the company. KLR Group assumed coverage on Ultra Petroleum Corp in a report on Tuesday. They issued a “buy” rating and a $14.00 price target on the stock. Zacks Investment Research cut Ultra Petroleum Corp from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Stifel Nicolaus upgraded Ultra Petroleum Corp from a “hold” rating to a “buy” rating in a report on Monday, June 12th.

About Ultra Petroleum Corp

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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