Zacks Investment Research upgraded shares of Ultra Petroleum Corp (NYSE:UPL) from a sell rating to a buy rating in a research note published on Wednesday morning. Zacks Investment Research currently has $12.00 price objective on the oil and gas exploration company’s stock.

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. “

Separately, Stifel Nicolaus raised shares of Ultra Petroleum Corp from a hold rating to a buy rating in a research report on Monday, June 12th.

Shares of Ultra Petroleum Corp (NYSE:UPL) opened at 10.61 on Wednesday. Ultra Petroleum Corp has a 52 week low of $0.85 and a 52 week high of $12.39. The firm’s market capitalization is $2.09 billion. The stock has a 50 day moving average price of $10.48 and a 200 day moving average price of $10.97.

Ultra Petroleum Corp (NYSE:UPL) last announced its quarterly earnings results on Wednesday, May 3rd. The oil and gas exploration company reported $1.49 earnings per share for the quarter. The business had revenue of $220.96 million for the quarter. Equities analysts forecast that Ultra Petroleum Corp will post $1.71 earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in UPL. Woodstock Corp acquired a new stake in shares of Ultra Petroleum Corp during the second quarter worth $112,000. Aperio Group LLC acquired a new stake in shares of Ultra Petroleum Corp during the second quarter worth $162,000. Parkwood LLC acquired a new stake in shares of Ultra Petroleum Corp during the second quarter worth $461,000. Spark Investment Management LLC acquired a new stake in shares of Ultra Petroleum Corp during the second quarter worth $813,000. Finally, Strs Ohio acquired a new stake in shares of Ultra Petroleum Corp during the second quarter worth $1,202,000.

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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