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Ultra Petroleum -10% as Stifel downgrades, citing weak natural gas outlook

May 25, 2018 3:24 PM ETUltra Petroleum Corp. (UPL) StockUPLCQBy: Carl Surran, SA News Editor17 Comments
  • Shares of Ultra Petroleum (UPL -10.5%) are buckling under the combined weight of crashing crude oil prices and an analyst downgrade, tumbling to a new 52-week low.
  • Stifel downgraded shares to Hold from Buy with a $1 price target, slashed from $3, with analyst Michael Scialla citing deteriorating long-term natural gas fundamentals.
  • Scialla says supply growth for nat gas appears set to outpace incremental demand from liquefied natural gas exports, Mexican exports and industrial sources.

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