Ultra Petroleum Corp (UPL) Major Shareholder Acquires $24,845,739.36 in Stock

Ultra Petroleum Corp (NYSE:UPL) major shareholder Fir Tree Inc. acquired 3,044,821 shares of Ultra Petroleum Corp stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average price of $8.16 per share, for a total transaction of $24,845,739.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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Shares of Ultra Petroleum Corp (UPL) opened at 7.86 on Friday. The stock has a 50 day moving average price of $9.47 and a 200 day moving average price of $10.45. The stock has a market capitalization of $1.42 billion and a P/E ratio of 1.76. Ultra Petroleum Corp has a 12 month low of $7.37 and a 12 month high of $13.60.

Ultra Petroleum Corp (NYSE:UPL) last released 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 for the quarter, compared to analyst estimates of $226.80 million. On average, analysts anticipate that Ultra Petroleum Corp will post $1.28 EPS for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. purchased a new stake in Ultra Petroleum Corp during the second quarter worth approximately $102,000. Woodstock Corp purchased a new stake in Ultra Petroleum Corp during the second quarter worth approximately $112,000. Financial Advisory Group purchased a new stake in Ultra Petroleum Corp during the second quarter worth approximately $112,000. Cetera Investment Advisers purchased a new stake in Ultra Petroleum Corp during the second quarter worth approximately $122,000. Finally, Keybank National Association OH purchased a new stake in Ultra Petroleum Corp during the second quarter worth approximately $136,000.

UPL has been the topic of several recent research reports. Zacks Investment Research downgraded Ultra Petroleum Corp from a “buy” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Stifel Nicolaus upgraded 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.