Ultra Petroleum Corp. (UPL) is Downgraded by Ladenburg Thalmann to Neutral

Ultra Petroleum Corp. (UPL) was Downgraded by Ladenburg Thalmann to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Ladenburg Thalmann advised their investors in a research report released on Apr 28, 2016.

Many Wall Street Analysts have commented on Ultra Petroleum Corp.. Ultra Petroleum Corp. was Downgraded by Johnson Rice to ” Hold” on Feb 19, 2016. Ultra Petroleum Corp. was Initiated by Drexel Hamilton to “Hold” on Feb 18, 2016.

On the company’s financial health, Ultra Petroleum Corp. reported $-0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Feb 18, 2016. Analyst had a consensus of $-0.16. The company had revenue of $189.30 million for the quarter, compared to analysts expectations of $200.91 million. The company’s revenue was down -40.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.62 EPS.

Ultra Petroleum Corp. opened for trading at $0.52 and hit $0.5476 on the upside on Wednesday, eventually ending the session at $0.4801, with a gain of 3.56% or 0.0165 points. The heightened volatility saw the trading volume jump to 1,07,02,280 shares. Company has a market cap of $74 M.

Ultra Petroleum Corp. (Ultra) is an independent oil and gas company. The Company is engaged in the development production operation exploration and acquisition of oil and natural gas properties. The Company operates in 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. The Company holds interest in the producing and non-producing properties in the Pinedale field in Sublette County Wyoming (the SWEPI Properties). The SWEPI Properties consists of approximately 19600 net mineral acres in Wyoming and associated oil and gas production.

Ultra Petroleum Corp.

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