Ultra Petroleum Corp (UPL) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS
Ultra Petroleum Corp (NYSE:UPL) posted its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05), Bloomberg Earnings reports. The firm had revenue of $217.63 million during the quarter, compared to analyst estimates of $209.20 million.
Ultra Petroleum Corp (UPL) opened at $8.46 on Thursday. Ultra Petroleum Corp has a fifty-two week low of $0.16 and a fifty-two week high of $8.75.
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In related news, major shareholder Fir Tree Inc. purchased 100,000 shares of Ultra Petroleum Corp stock in a transaction dated Friday, September 1st. The shares were acquired at an average price of $8.00 per share, for a total transaction of $800,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last quarter, insiders have bought 6,018,620 shares of company stock worth $48,152,106.
Several research analysts have recently commented on UPL shares. KLR Group started coverage on Ultra Petroleum Corp in a report on Tuesday, August 29th. They set a “buy” rating and a $14.00 price target on the stock. Zacks Investment Research upgraded Ultra Petroleum Corp from a “sell” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, July 26th.
Ultra Petroleum Corp Company 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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