Elliott Management Corp Buys New Holdings in Ultra Petroleum Corp (NYSE:UPL)

Elliott Management Corp purchased a new stake in Ultra Petroleum Corp (NYSE:UPL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 250,000 shares of the oil and gas exploration company’s stock, valued at approximately $2,713,000. Elliott Management Corp owned 0.13% of Ultra Petroleum Corp as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. acquired a new position in Ultra Petroleum Corp in the second quarter valued at approximately $139,044,000. PointState Capital LP bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at approximately $56,965,000. Numeric Investors LLC bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at approximately $42,298,000. Northern Trust Corp bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at approximately $35,624,000. Finally, Harris Associates L P bought a new stake in shares of Ultra Petroleum Corp during the second quarter valued at approximately $31,767,000.

Ultra Petroleum Corp (NYSE:UPL) traded up 0.25% during midday trading on Tuesday, hitting $8.17. The stock had a trading volume of 127,272 shares. The company has a market cap of $1.48 billion and a P/E ratio of 1.83. Ultra Petroleum Corp has a 12 month low of $7.37 and a 12 month high of $12.39. The firm’s 50-day moving average price is $8.43 and its 200 day moving average price is $9.98.

Ultra Petroleum Corp (NYSE:UPL) last announced its quarterly earnings data on Wednesday, August 9th. The oil and gas exploration company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.10). The business had revenue of $212.66 million during the quarter, compared to analyst estimates of $226.80 million. On average, analysts expect that Ultra Petroleum Corp will post $2.13 earnings per share for the current fiscal year.

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Several research firms have recently commented on UPL. Zacks Investment Research upgraded Ultra Petroleum Corp from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 27th. KLR Group began coverage on Ultra Petroleum Corp in a report on Tuesday, August 29th. They set a “buy” rating and a $14.00 price objective for the company.

In related news, major shareholder Fir Tree Inc. acquired 1,549,899 shares of the stock in a transaction on Monday, August 28th. The stock was acquired at an average price of $7.85 per share, for a total transaction of $12,166,707.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 6,018,620 shares of company stock valued at $48,152,106 in the last quarter.

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.

Institutional Ownership by Quarter for Ultra Petroleum Corp (NYSE:UPL)

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