In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Ultra Petroleum Corp. (NASDAQ:UPL) reported that Blue Ridge Capital has picked up 6,530,464 of common stock as of 2017-05-15.
The acquisition brings the aggregate amount owned by Blue Ridge Capital to a total of 6,530,464 representing less than 3.31% stake in the company.
For those not familiar with the company, Ultra Petroleum Corp. is an independent exploration and production company focused on developing its long-life natural gas reserves in the Green River Basin of Wyoming – the Pinedale and Jonah Fields. In addition, Ultra Petroleum currently has an oil development project underway in the Uinta Basin, Three Rivers area in Utah. Maintaining natural gas optionality, Ultra has a position in the heart of the Marcellus shale in the Appalachian Basin of Pennsylvania.
A glance at Ultra Petroleum Corp. (NASDAQ:UPL)’s key stats reveals a current market capitalization of 2.37 Billion based on 197.10 Million shares outstanding and a price at last close of $11.78 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2013-04-01, Shaw picked up 3,000 at a purchase price of $19.47. This brings their total holding to 15,898 as of the date of the filing.
On the sell side, the most recent transaction saw Nance unload 11,300 shares at a sale price of $18.50. This brings their total holding to 9,427.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Ultra Petroleum Corp. (NASDAQ:UPL) as things move forward to see if its progress aligns with these transactions.
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