Akanthos Capital Management LLC Has $4.19 Million Stake in Ultra Petroleum Corp (UPLMQ)
Akanthos Capital Management LLC grew its position in Ultra Petroleum Corp (OTCMKTS:UPLMQ) by 286.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 483,449 shares of the energy company’s stock after acquiring an additional 358,449 shares during the period. Ultra Petroleum Corp accounts for approximately 6.7% of Akanthos Capital Management LLC’s investment portfolio, making the stock its 4th biggest position. Akanthos Capital Management LLC owned 0.32% of Ultra Petroleum Corp worth $4,192,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. bought a new position in shares of Ultra Petroleum Corp in the 2nd quarter valued at $139,044,000. PointState Capital LP bought a new position in Ultra Petroleum Corp during the 2nd quarter worth $56,965,000. Numeric Investors LLC bought a new position in Ultra Petroleum Corp during the 2nd quarter worth $42,298,000. Northern Trust Corp bought a new position in Ultra Petroleum Corp during the 2nd quarter worth $35,624,000. Finally, Harris Associates L P bought a new position in Ultra Petroleum Corp during the 2nd quarter worth $31,767,000. Institutional investors own 9.41% of the company’s stock.
Several research analysts recently issued reports on the company. Zacks Investment Research lowered Ultra Petroleum Corp from a “hold” rating to a “strong sell” rating in a research report on Friday, November 10th. KLR Group initiated coverage on Ultra Petroleum Corp in a report on Tuesday, August 29th. They set a “buy” rating and a $14.00 price target for the company.
Ultra Petroleum Corp (OTCMKTS:UPLMQ) last issued its earnings results on Tuesday, November 7th. The energy company reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.05). The firm had revenue of $217.63 million during the quarter, compared to the consensus estimate of $209.20 million.
In related news, major shareholder Fir Tree Inc. purchased 100,000 shares of the business’s stock in a transaction on Friday, September 1st. The stock was acquired at an average price of $8.00 per share, for a total transaction of $800,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 6,018,620 shares of company stock valued at $48,152,106 in the last quarter. Company insiders own 3.40% of the company’s stock.
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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