For the second quarter Ultra Petroleum reported earnings of 52 cents a share, missing the Capital IQ Consensus Estimate of 53 cents a share by 1 cent. Revenue rose 13.3% from the year-ago quarter to $296.1 million, above analysts' estimates of $273.95 million.
The company produced 58.5 billion cubic feet equivalent (Bcfe) of natural gas and oil in the quarter. Ultra Petroleum expects production of 60 Bcfe to 62 Bcfe for the third quarter, and 243 Bcfe to 250Bcfe for the full year.
TheStreet Ratings team rates ULTRA PETROLEUM CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ULTRA PETROLEUM CORP (UPL) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good."