“Ultra Petroleum Corp.” (UPL) Bonds Drop 2.3% During Trading
An issue of “Ultra Petroleum Corp.” (NASDAQ:UPL) debt fell 2.3% as a percentage of its face value during trading on Friday. The debt issue has a 7.125% coupon and is set to mature on April 15, 2025. The debt is now trading at $73.25 and was trading at $74.00 last week. Price moves in a company’s debt in credit markets sometimes anticipate parallel moves in its share price.
UPL has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of “Ultra Petroleum Corp.” from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Monday, March 26th. Zacks Investment Research upgraded shares of “Ultra Petroleum Corp.” from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st.
Shares of “Ultra Petroleum Corp.” stock opened at $2.63 on Friday. “Ultra Petroleum Corp.” has a 52-week low of $2.56 and a 52-week high of $12.39. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of -1.83. The company has a market capitalization of $516.39 and a P/E ratio of 1.01.
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About “Ultra Petroleum Corp.”
Ultra Petroleum Corp., an independent oil and gas company, engages in the acquisition, exploration, development, operation, and production 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; and its oil reserves in the Uinta Basin in northeast Utah.
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