Ultra Petroleum Corp (NASDAQ:UPL) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 36,571,635 shares, an increase of 7.0% from the August 15th total of 34,189,528 shares. Approximately 18.9% of the shares of the company are sold short. Based on an average trading volume of 2,588,145 shares, the days-to-cover ratio is presently 14.1 days.

Shares of NASDAQ UPL opened at $1.16 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.43 and a debt-to-equity ratio of -1.95. The stock has a market cap of $248.29 million, a PE ratio of 0.57 and a beta of 0.59. Ultra Petroleum has a 52-week low of $0.92 and a 52-week high of $10.18.

Ultra Petroleum (NASDAQ:UPL) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The company had revenue of $190.14 million for the quarter, compared to analysts’ expectations of $202.80 million. Ultra Petroleum had a negative net margin of 23.49% and a negative return on equity of 21.81%. equities research analysts forecast that Ultra Petroleum will post 0.79 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of UPL. Jane Street Group LLC boosted its holdings in shares of Ultra Petroleum by 227.4% in the second quarter. Jane Street Group LLC now owns 50,269 shares of the company’s stock worth $116,000 after buying an additional 89,712 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ultra Petroleum in the first quarter worth approximately $242,000. IPG Investment Advisors LLC purchased a new position in shares of Ultra Petroleum in the second quarter worth approximately $254,000. Raffles Associates LP boosted its holdings in shares of Ultra Petroleum by 50.0% in the second quarter. Raffles Associates LP now owns 150,000 shares of the company’s stock worth $346,000 after buying an additional 50,000 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Ultra Petroleum by 89.0% in the first quarter. Legal & General Group Plc now owns 92,482 shares of the company’s stock worth $385,000 after buying an additional 43,553 shares during the last quarter. 90.62% of the stock is currently owned by institutional investors.

A number of analysts have recently issued reports on UPL shares. Zacks Investment Research downgraded shares of Ultra Petroleum from a “strong-buy” rating to a “hold” rating in a report on Saturday, July 7th. National Alliance Securities downgraded shares of Ultra Petroleum from a “buy” rating to a “hold” rating in a report on Friday, August 10th. ValuEngine downgraded shares of Ultra Petroleum from a “sell” rating to a “strong sell” rating in a report on Friday, September 7th. Stifel Nicolaus downgraded shares of Ultra Petroleum from a “buy” rating to a “hold” rating and dropped their price target for the company from $3.00 to $1.00 in a report on Friday, May 25th. Finally, Capital One Financial downgraded shares of Ultra Petroleum from an “equal weight” rating to an “underweight” rating in a report on Friday, August 10th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Ultra Petroleum has a consensus rating of “Hold” and a consensus target price of $1.63.

Ultra Petroleum Company Profile

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; and its oil reserves in the Uinta Basin in northeast Utah.

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