Ultra Petroleum (UPL) added to the Conviction List.
Source: http://www.agustingonzalez.com/my_weblog/2008/03/ultra-petroleum.htmlPosted on Saturday, March 1st, 2008 | In Current Market News, Stocks to Watch
I have decided to add an oil name to the conviction list: Ultra Petroleum Corp (ticker symbol, UPL).
Ultra Petroleum Corp. engages in the development, production, operation, exploration, and acquisition of oil and natural gas properties primarily in the Green River Basin, southwest Wyoming and Bohai Bay, offshore China. It primarily focuses on the development and expansion of a tight gas sand project located in the Green River Basin in southwest Wyoming. As of December 31, 2006, the company owned interests in approximately 79,566 net acres in Wyoming; and 124,591 net acres in Pennsylvania. Ultra Petroleum Corp. was founded in 1979 and is based in Houston, Texas.
UPL announced earnings on Feb. 20th and they were steller! UPL reported Q4 EPS of 70c vs. consensus of 32c per share. They also reported Q4 revenues $162M vs. consensus estimates of $156M. Jefferies & Co. believes the company will likely raise 2008 production guidance. Subsequently, the firm raised their target price from $80 to $88 and maintained a "Buy" rating on the stock.
Powerpoint slide put together by UPL execs discussing highlights can be found HERE. More on UPL later…
Last 5 posts by Agustin Gonzalez
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 About Agustin Gonzalez (http://agcapitalmgt.com/)
Agustin Gonzalez is Founder/Portfolio Manager of AG Capital Management in Dallas, Texas. He trades primarily domestic equities and options for his clients. Prior to starting his own firm, he advised high-net-worth clients in investment strategy and portfolio management at Merrill Lynch Global Private Client Group. Mr. Gonzalez attended the United States Air Force Academy between 1994 and 1997 before receiving an Honorable Discharge. He then graduated with a Bachelor of Science (BS) in Management Science in 2000 from the Southern Methodist University's School of Engineering and Applied Sciences in Dallas, Texas. He is also near completion of his Masters in Business Administration (MBA) from the Southern Methodist University's Cox School of Business with a dual concentration in Financial Consulting and Corporate Finance. |
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