Prudential Financial Inc. Acquires New Stake in Ultra Petroleum Corp (UPL)
Prudential Financial Inc. acquired a new position in shares of Ultra Petroleum Corp (NYSE:UPL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 300,150 shares of the oil and gas exploration company’s stock, valued at approximately $3,257,000. Prudential Financial Inc. owned 0.15% of Ultra Petroleum Corp at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of UPL. Sei Investments Co. acquired a new position in shares of Ultra Petroleum Corp during the second quarter worth about $102,000. Woodstock Corp acquired a new position in shares of Ultra Petroleum Corp during the second quarter worth about $112,000. Aperio Group LLC acquired a new position in shares of Ultra Petroleum Corp during the second quarter worth about $162,000. SG Americas Securities LLC acquired a new position in shares of Ultra Petroleum Corp during the second quarter worth about $214,000. Finally, BNP Paribas Arbitrage SA acquired a new position in shares of Ultra Petroleum Corp during the second quarter worth about $257,000.
In related news, major shareholder Fir Tree Inc. acquired 100,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was purchased at an average cost of $8.00 per share, with a total value of $800,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have acquired a total of 6,018,620 shares of company stock valued at $48,152,106 over the last three months.
Ultra Petroleum Corp (NYSE:UPL) opened at 8.59 on Friday. Ultra Petroleum Corp has a 12 month low of $7.37 and a 12 month high of $13.60. The company’s 50-day moving average price is $8.41 and its 200 day moving average price is $10.14. The firm has a market capitalization of $1.55 billion and a PE ratio of 1.93.
Ultra Petroleum Corp (NYSE:UPL) last issued its quarterly earnings data on Wednesday, August 9th. The oil and gas exploration company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.10). The business had revenue of $212.66 million during the quarter, compared to analysts’ expectations of $226.80 million. On average, equities research analysts predict that Ultra Petroleum Corp will post $2.15 earnings per share for the current year.
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Several research analysts have recently weighed in on UPL shares. KLR Group started coverage on Ultra Petroleum Corp in a research report on Tuesday, August 29th. They set a “buy” rating and a $14.00 price objective for the company. Zacks Investment Research raised Ultra Petroleum Corp from a “sell” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, July 26th. Finally, Stifel Nicolaus raised Ultra Petroleum Corp from a “hold” rating to a “buy” rating in a research report on Monday, June 12th.
Ultra Petroleum Corp Profile
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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