Ultra Petroleum Corp (NYSE:UPL) major shareholder Fir Tree Inc. bought 1,323,900 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were acquired at an average cost of $7.81 per share, with a total value of $10,339,659.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Fir Tree Inc. also recently made the following trade(s):

  • On Monday, August 28th, Fir Tree Inc. acquired 1,549,899 shares of Ultra Petroleum Corp stock. The stock was purchased at an average cost of $7.85 per share, with a total value of $12,166,707.15.
  • On Wednesday, August 23rd, Fir Tree Inc. acquired 3,044,821 shares of Ultra Petroleum Corp stock. The stock was purchased at an average cost of $8.16 per share, with a total value of $24,845,739.36.

Ultra Petroleum Corp (NYSE:UPL) opened at 8.13 on Friday. Ultra Petroleum Corp has a 12 month low of $7.37 and a 12 month high of $13.60. The stock has a market capitalization of $1.47 billion and a price-to-earnings ratio of 1.82. The stock’s 50 day moving average is $9.11 and its 200-day moving average is $10.32.

Ultra Petroleum Corp (NYSE:UPL) last issued its quarterly earnings data on Wednesday, August 9th. The oil and gas exploration company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.10. The company had revenue of $212.66 million during the quarter, compared to analysts’ expectations of $226.80 million. On average, equities research analysts expect that Ultra Petroleum Corp will post $1.28 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. purchased a new stake in shares of Ultra Petroleum Corp during the second quarter valued at $102,000. Financial Advisory Group bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at approximately $112,000. Woodstock Corp bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at approximately $112,000. Cetera Investment Advisers bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at approximately $122,000. Finally, Keybank National Association OH bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at approximately $136,000.

UPL has been the topic of a number of recent analyst reports. KLR Group initiated coverage on shares of Ultra Petroleum Corp in a research report on Tuesday. They issued a “buy” rating and a $14.00 target price on the stock. Zacks Investment Research cut shares of Ultra Petroleum Corp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus raised shares of Ultra Petroleum Corp from a “hold” rating to a “buy” rating in a research report on Monday, June 12th.

Ultra Petroleum Corp Company Profile

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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