Ultra Petroleum Corp. (NASDAQ:UPL).
On April 28 the stock rating was downgraded from “” to “Neutral” with a current price target of $1.50 in a report issued by Ladenburg Thalmann. On February 19 the company was downgraded to “Hold” from “Buy” by Johnson Rice.
On February 19 the company was changed to a “Sell” according to a KLR Group report which is down from the previous “Buy” rating. On February 18, 2016 Drexel Hamilton started coverage with an initial rating of “Hold”.
January 29 investment analysts at Barclays held the company rating at “Underweight” and lowered the price expectation from $2.00 to $1.00.
In the market the company is trading down from yesterday’s close of $11.6. Shares are trading at $11.49 which is just a bit higher than $11.46, the 50 day moving average and just a bit higher than the 200 day moving average of $11.43. The 50 day moving average was up $0.03 and the 200 day average moved up $0.06.
Ultra Petroleum Corp. (Ultra), launched on November 14, 1979, is an oil and gas company. The Company is involved 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. The Company conducts its operations in the United States. The Company focuses on sands of the upper Cretaceous Lance Pool in the Pinedale and Jonah fields. The Lance Pool includes sands of the Lance formation at depths between approximately 8,000 and 12,000 feet and the Mesaverde formation at depths between approximately 12,000 and 14,000 feet..
As of the latest earnings report the EPS was $-0.16 and is projected to be $2.81 for the current year with 197,099,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.47 with next year’s EPS projected to be $2.76.