Zacks Investment Research Upgrades Ultra Petroleum (NASDAQ:UPLC) to Hold

Ultra Petroleum (NASDAQ:UPLC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Ultra Petroleum Corp. is an energy company. It engaged in domestic natural gas and oil exploration, development and production. Ultra Petroleum Corp. is based in Houston, United States. “

NASDAQ:UPLC remained flat at $$0.27 during midday trading on Friday. 315,367 shares of the company traded hands, compared to its average volume of 2,596,151. Ultra Petroleum has a 12-month low of $0.08 and a 12-month high of $2.04.

Ultra Petroleum (NASDAQ:UPLC) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The company had revenue of $155.41 million for the quarter, compared to analyst estimates of $179.80 million.

In related news, CFO David W. Honeyfield purchased 300,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were purchased at an average cost of $0.13 per share, for a total transaction of $39,000.00. Following the purchase, the chief financial officer now directly owns 360,000 shares of the company’s stock, valued at $46,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 547,000 shares of company stock worth $85,180 over the last quarter.

Ultra Petroleum Company Profile

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.

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