Shares of Ultra Petroleum Corp (NASDAQ:UPL) traded down 6.4% during trading on Wednesday . The stock traded as low as $0.43 and last traded at $0.44. 1,243,427 shares changed hands during trading, a decline of 31% from the average session volume of 1,801,825 shares. The stock had previously closed at $0.47.

Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Ultra Petroleum from a “sell” rating to a “hold” rating in a research report on Saturday, February 2nd. Stifel Nicolaus set a $1.00 price target on shares of Ultra Petroleum and gave the company a “hold” rating in a research report on Wednesday, February 20th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $1.63.

The stock has a market cap of $87.68 million, a PE ratio of 0.58 and a beta of 0.69.

Ultra Petroleum (NASDAQ:UPL) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14. Ultra Petroleum had a net margin of 8.35% and a negative return on equity of 11.65%. The business had revenue of $271.46 million during the quarter, compared to the consensus estimate of $279.00 million. Analysts anticipate that Ultra Petroleum Corp will post 0.37 EPS for the current year.

In other Ultra Petroleum news, insider David W. Honeyfield purchased 60,000 shares of Ultra Petroleum stock in a transaction that occurred on Friday, March 29th. The stock was acquired at an average price of $0.61 per share, with a total value of $36,600.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider J. Jay Jr. Stratton acquired 80,000 shares of the company’s stock in a transaction on Thursday, April 11th. The shares were bought at an average price of $0.55 per share, for a total transaction of $44,000.00. The disclosure for this purchase can be found here. Company insiders own 1.80% of the company’s stock.

Large investors have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in Ultra Petroleum during the 4th quarter valued at $38,000. Wambolt & Associates LLC bought a new position in Ultra Petroleum during the 1st quarter valued at $35,000. Squarepoint Ops LLC bought a new position in Ultra Petroleum during the 4th quarter valued at $79,000. SG Americas Securities LLC bought a new position in Ultra Petroleum during the 4th quarter valued at $80,000. Finally, IPG Investment Advisors LLC lifted its stake in Ultra Petroleum by 1,200.0% during the 1st quarter. IPG Investment Advisors LLC now owns 130,000 shares of the company’s stock valued at $79,000 after acquiring an additional 120,000 shares in the last quarter. Institutional investors and hedge funds own 75.43% of the company’s stock.

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Ultra Petroleum Company Profile (NASDAQ:UPL)

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.

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