Ultra Petroleum (NYSE: UPL) received a number of price target changes and ratings updates during the last week:
- Ultra Petroleum had its price target lowered by analysts at Barclays Capital from $12.00 to $11.00. They now have an “underweight” rating on the stock.
- Ultra Petroleum had its price target lowered by analysts at Deutsche Bank from $22.00 to $18.00. They now have a “hold” rating on the stock.
- Ultra Petroleum had its price target lowered by analysts at Jefferies Group to $15.00. They wrote, “Reducing PT to $15 from $20 on reserve update. We are not assuming the restoration of written-off PUDs because of downward bias to long-term gas deck and the low level of current E&D spending. On the bright side, balance sheet should not deteriorate in the near term as UPL should be largely selffunding as it waits out a natural gas recovery.”
- Ultra Petroleum had its price target lowered by analysts at Global Hunter Securities from $21.00 to $18.00.
- Ultra Petroleum had its price target lowered by analysts at Jefferies & Co. from $20.00 to $15.00. They now have a “hold” rating on the stock.
Ultra Petroleum opened at 17.24 on Wednesday. Ultra Petroleum has a 1-year low of $15.26 and a 1-year high of $25.62. The stock’s 50-day moving average is currently $17.7. The company’s market cap is $2.636 billion.
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.
