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Stock Roundup: Ultra Petroleum Corp. (NASDAQ: UPL)

Michael Hunt

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On Friday, Shares of Ultra Petroleum Corp. (NASDAQ: UPL) showed the bullish trend with a higher momentum of 0.56% and ended its trading session at $1.79. The company traded total volume of 4,910,169 shares as contrast to its average volume of 4.54M shares. The company has a market value of $350.80M and about 195.98M shares outstanding.

Ultra Petroleum Corp. (UPL) declares financial and operating results for the quarter ended March 31, 2018.

First Quarter 2018 Financial Results

During the first quarter of 2018, total revenues increased 2% to $225.40M as contrast to $221.00M during the first quarter of 2017. The Company’s production of natural gas and oil was 72.30B cubic feet equivalent (Bcfe), a boost of 13% over the first quarter of 2017, with 68.20B cubic feet (Bcf) of natural gas and 677.8 thousand barrels (MBbls) of oil and condensate.

Ultra Petroleum’s stated net income was $47.50M, or $0.24 per diluted share. Ultra stated adjusted net income of $55.30M, or $0.28 per diluted share for the quarter ended March 31, 2018.

The Company offered net profit margin of 35.10% while its gross profit margin was 67.10%. ROE was recorded as -28.30%. The stock, as of recent close, has shown the weekly downbeat performance of -5.79% which was maintained at -80.24% in this year.

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I am Michael Hunt and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind irnpost.com with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Basic Materials” category.

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