Ultra Petroleum (NASDAQ:UPLC) Upgraded to “Hold” at Zacks Investment Research

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Ultra Petroleum (NASDAQ:UPLC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a 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. “

Ultra Petroleum stock traded down $0.01 during trading hours on Friday, reaching $0.26. The stock had a trading volume of 35,322 shares, compared to its average volume of 2,565,084. Ultra Petroleum has a 52 week low of $0.08 and a 52 week high of $2.04.

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

In other Ultra Petroleum news, CFO David W. Honeyfield purchased 300,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was bought at an average cost of $0.13 per share, with a total value of $39,000.00. Following the transaction, the chief financial officer now directly owns 360,000 shares in the company, valued at approximately $46,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders bought 547,000 shares of company stock valued at $85,180.

About Ultra Petroleum

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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