The stock of Ultra Petroleum Corp. (NYSE:UPL) hit a new 52-week low and has $2.47 target or 10.00% below today’s $2.74 share price. The 6 months bearish chart indicates high risk for the $485.81 million company. The 1-year low was reported on Dec, 12 by Barchart.com. If the $2.47 price target is reached, the company will be worth $48.58M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 13.56% or $0.43 on December 11, hitting $2.74. About 6.19M shares traded hands or 71.94% up from the average. Ultra Petroleum Corp. (NYSE:UPL) has declined 82.93% since May 11, 2015 and is downtrending. It has underperformed by 78.51% the S&P500.
Out of 16 analysts covering Ultra Petroleum Corp. (NYSE:UPL), 4 rate it “Buy”, 2 “Sell”, while 13 “Hold”. This means 21% are positive. Ultra Petroleum Corp. was the topic in 14 analyst reports since July 21, 2015 according to StockzIntelligence Inc.
According to Zacks Investment Research, “Ultra Petroleum is an independent, exploration and production company focused on developing its long life natural gas reserves in the Green River Basin of Wyoming, and oil reserves in Bohai Bay, offshore China.” Get a free copy of the Zacks research report on Ultra Petroleum Corp. (UPL).
The institutional sentiment decreased to 0.78 in Q3 2015. Its down 0.35, from 1.13 in 2015Q2. The ratio dived, as 48 funds sold all Ultra Petroleum Corp. shares owned while 62 reduced positions. 20 funds bought stakes while 66 increased positions. They now own 133.53 million shares or 5.21% less from 140.87 million shares in 2015Q2.
Arga Investment Management Lp holds 9.09% of its portfolio in Ultra Petroleum Corp. for 4.97 million shares. Socratic Fund Management L.P. owns 150,000 shares or 8.01% of their US portfolio. Moreover, Elm Ridge Management Llc has 1.49% invested in the company for 1.60 million shares. The Minnesota-based Disciplined Growth Investors Inc Mn has invested 0.9% in the stock. Ci Investments Inc., a Ontario - Canada-based fund reported 9.86 million shares.
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