Ultra Petroleum Corp.
(UPL) posted adjusted second-quarter earnings of 52 cents per share, topping the Zacks Consensus Estimate by 15.6%.

Total operating revenues plunged 57.7% to $130.3 million on account of a slump in prices.

Ultra Petroleum’s average realized price on natural gas declined 68.1% to $2.71 per thousand cubic feet (Mcf).

The company continues to expect full-year production guidance between 172 and 177 billion cubic feet equivalent (Bcfe).

The Zacks Consensus Estimate for the full-year has edged up a penny over the past month to $1.62 per share. The most accurate estimate is even bullish at $1.69 per share.

UPL, a Zacks #3 Rank (“Hold”) stock, has gained nearly 2% on heavier-than-usual volume of approximately 2.9 million, compared to the average daily volume of about 1.8 million.

“UPL” Free Stock Analysis: Buy? Sell? Hold?
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