Northern Trust Corp Purchases New Holdings in Ultra Petroleum Corp (UPL)
Northern Trust Corp purchased a new stake in Ultra Petroleum Corp (NYSE:UPL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,283,261 shares of the oil and gas exploration company’s stock, valued at approximately $35,624,000. Northern Trust Corp owned approximately 1.67% of Ultra Petroleum Corp as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Prudential Financial Inc. purchased a new stake in shares of Ultra Petroleum Corp in the 2nd quarter valued at about $3,257,000. Parkwood LLC purchased a new stake in shares of Ultra Petroleum Corp in the 2nd quarter valued at about $461,000. Woodstock Corp purchased a new stake in shares of Ultra Petroleum Corp in the 2nd quarter valued at about $112,000. Rhumbline Advisers purchased a new stake in shares of Ultra Petroleum Corp in the 2nd quarter valued at about $2,570,000. Finally, Monarch Partners Asset Management LLC purchased a new stake in shares of Ultra Petroleum Corp in the 2nd quarter valued at about $10,238,000.
In other Ultra Petroleum Corp news, major shareholder Fir Tree Inc. acquired 1,549,899 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was purchased at an average price of $7.85 per share, with a total value of $12,166,707.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders bought 6,018,620 shares of company stock valued at $48,152,106.
Several analysts have weighed in on UPL shares. Zacks Investment Research cut Ultra Petroleum Corp from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. KLR Group started coverage on Ultra Petroleum Corp in a report on Tuesday, August 29th. They issued a “buy” rating and a $14.00 price target on the stock.
Shares of Ultra Petroleum Corp (UPL) opened at 8.11 on Friday. The firm has a 50 day moving average price of $8.41 and a 200 day moving average price of $9.91. Ultra Petroleum Corp has a 12-month low of $0.85 and a 12-month high of $12.39. The stock has a market cap of $1.47 billion and a PE ratio of 1.82.
Ultra Petroleum Corp (NYSE:UPL) last released its quarterly earnings data on Wednesday, August 9th. The oil and gas exploration company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.10). The firm had revenue of $212.66 million during the quarter, compared to analysts’ expectations of $226.80 million. On average, equities analysts expect that Ultra Petroleum Corp will post $2.13 EPS for the current year.
About Ultra Petroleum Corp
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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