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Why You Shouldn’t Bet Against Ultra Petroleum (UPLMQ) Stock

Zacks

One stock that might be an intriguing choice for investors right now is Ultra Petroleum Corporation UPLMQ. This is because this security in the Oil & Gas – U.S. Exploration and Production space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.

This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Oil & Gas – U.S. Exploration and Production space as it currently has a Zacks Industry Rank of 61 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.

Meanwhile, Ultra Petroleum is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.

ULTRA PETRO CP Price and Consensus

ULTRA PETRO CP Price and Consensus | ULTRA PETRO CP Quote


In fact, over the past month, though current quarter estimates have remained flat at 33 cents per share, current year estimates have risen from 68 cents per share to 77 cents per share. This has helped UPLMQ to earn a Zacks Rank #1 (Strong Buy), further underscoring the company’s solid position. You can see the complete list of today’s Zacks #1 Rank stocks here.

So, if you are looking for a decent pick in a strong industry, consider Ultra Petroleum. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.

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