Ultra Petroleum Corp (UPL) Major Shareholder Purchases $10,339,659.00 in Stock
Ultra Petroleum Corp (NYSE:UPL) major shareholder Fir Tree Inc. acquired 1,323,900 shares of Ultra Petroleum Corp stock in a transaction dated Thursday, August 31st. The shares were purchased at an average price of $7.81 per share, with a total value of $10,339,659.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more 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 Monday, August 28th, Fir Tree Inc. acquired 1,549,899 shares of Ultra Petroleum Corp stock. The shares were purchased at an average price of $7.85 per share, with a total value of $12,166,707.15.
- On Wednesday, August 23rd, Fir Tree Inc. acquired 3,044,821 shares of Ultra Petroleum Corp stock. The shares were purchased at an average price of $8.16 per share, with a total value of $24,845,739.36.
Shares of Ultra Petroleum Corp (NYSE:UPL) traded down 0.89% during midday trading on Thursday, hitting $7.79. The stock had a trading volume of 4,601,618 shares. The stock’s 50-day moving average price is $9.18 and its 200 day moving average price is $10.34. Ultra Petroleum Corp has a 52 week low of $7.37 and a 52 week high of $13.60. The company has a market cap of $1.41 billion and a price-to-earnings ratio of 1.75.
Ultra Petroleum Corp (NYSE:UPL) last issued its quarterly earnings results on Wednesday, August 9th. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by $0.10. The firm had revenue of $212.66 million for the quarter, compared to the consensus estimate of $226.80 million. On average, equities analysts forecast that Ultra Petroleum Corp will post $1.28 earnings per share for the current year.
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Several large investors have recently modified their holdings of the company. Parkwood LLC bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at about $461,000. Woodstock Corp bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at about $112,000. Monarch Partners Asset Management LLC bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at about $10,238,000. Russell Investments Group Ltd. bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at about $4,783,000. Finally, Strs Ohio bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at about $1,202,000.
A number of equities research analysts have recently issued reports on UPL shares. Zacks Investment Research cut Ultra Petroleum Corp from a “buy” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Stifel Nicolaus upgraded Ultra Petroleum Corp from a “hold” rating to a “buy” rating in a report on Monday, June 12th. Finally, KLR Group started coverage on Ultra Petroleum Corp in a report on Tuesday. They set a “buy” rating and a $14.00 price objective for the company.
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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