Why Ultra Petroleum Corp.'s Stock Plunged Nearly 24% in August [The Motley Fool]
ULTRA PETROLEUM CORP COMMON (UPL)
Last ultra petroleum corp common earnings: 5/9 06:00 am
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ultrapetroleum.com
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Source: The Motley Fool
The natural gas driller continued to confound investors. Matthew DiLallo ( TMFmd19 ) Sep 4, 2018 at 1:07PM What happened Shares of Ultra Petroleum Corp. ( NASDAQ:UPL ) continued to sell off in August, falling another 23.8% last month, pushing its year-to-date decline to a stunning 85.5%. Driving the most recent plunge was its disappointing second-quarter report. So what Ultra Petroleum cratered after reporting second-quarter results that came in below analyst expectations. Overall, the natural gas producer earned $34 million, or $0.17 per share, of adjusted net income, which was $0.03 per share lower than the consensus estimate. The culprit was production, which didn't meet expectations due to the poor performance of several newly drilled horizontal wells in the Pinedale formation of Wyoming. Image source: Getty Images. As a result
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