An issue of “Ultra Petroleum Corp.” (NASDAQ:UPL) debt rose 2.5% as a percentage of its face value during trading on Thursday. The debt issue has a 7.125% coupon and is set to mature on April 15, 2025. The bonds in the issue are now trading at $75.50 and were trading at $75.00 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its stock price.

UPL has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on “Ultra Petroleum Corp.” from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Monday, March 26th. Zacks Investment Research raised “Ultra Petroleum Corp.” from a “sell” rating to a “hold” rating in a research note on Wednesday, March 21st.

UPL stock traded down $0.28 during midday trading on Thursday, hitting $2.98. The stock had a trading volume of 5,897,779 shares, compared to its average volume of 3,916,377. The stock has a market cap of $620.46 and a price-to-earnings ratio of 1.47. “Ultra Petroleum Corp.” has a 52-week low of $2.84 and a 52-week high of $12.39. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of -1.83.

“Ultra Petroleum Corp.” (NASDAQ:UPL) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.09. The company had revenue of $240.63 million for the quarter, compared to analysts’ expectations of $227.00 million. “Ultra Petroleum Corp.” had a negative return on equity of 29.81% and a net margin of 19.86%. equities research analysts expect that “Ultra Petroleum Corp.” will post 1.04 earnings per share for the current fiscal year.

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About “Ultra Petroleum Corp.”

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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