Call Help Lines
954-785-1121

>>> UPGRADE YOUR MEMBERSHIP NOW AND GET IT ALL - CLICK HERE
CANSLIM.net Stock Bulletins - UPL
02/16/05   CANSLIM.net
 

STOCK BULLETIN
    
"Since 1996, Providing Essential Services for the CANSLIM Investor"

Wednesday, February 16th, 2005 | 2:00 PM

 

 
Ultra Petroleum Corp

- Frank Testa   

Ticker Symbol: UPL Industry Group:
Oil & Gas – US Exploration & Production
Shares Outstanding: 75.0 Million
Price: $55.43 (02/15/05 close) Day's Volume:
534,200 (
02/15/05 close)
Shares in Float:  69.8 Million
52 Week High: $56.49 50-Day Average Volume:
815,800
Up/Down Volume Ratio: 1.2
Pivot Point: $53.25 (12/16/04 high plus $0.10) Pivot Point +5% =
Max Buy Price:
$55.91
Web Address: ultrapetroleum.com


Financials | StockTalk | News | Chart | SEC | Zacks Reports     Chart courtesy www.stockcharts.com

 Quarterly Comparisons Versus The Year Earlier

Quarter:

03/31/04 

06/30/04

09/30/04 

12/31/04 

Earnings:

0.25 vs 0.11

+127%

0.23 vs. 0.10

+130%

0.35 vs. 0.13

+169%

0.53 vs. 0.24

+121%

Sales ($Mil):

48.6 vs. 24.7

+ 97%

46.1 vs 23.5

+96%

66.4 vs. 29.3

+127%

96.9 vs 44.2

+119%

Profile: Ultra Petroleum Corp. is an independent oil and gas company engaged in the development, production, operation, exploration and acquisition of oil and gas properties. The Company's operations are focused primarily in the Green River Basin of southwest Wyoming and Bohai Bay, offshore China.  The company is a member of the highly ranked Oil & Gas – US Exploration & Production group, ranked in the top 5% of the 197 industry groups tracked by IBD for relative performance for the past six months.  Financially, the company has been growing revenues at a strong pace, up +112% to $258 million over the past year, generating a +134% jump in earnings per share to $1.36 for the fiscal year 2004. Its strong earnings history helps it claim the highest possible EPS rank, and it has been a fixture in the IBD 100 list.  In 2005, Wall Street is forecasting earnings to rise an additional 32% to $1.78 per share. The company’s board has approved a 2-for-1 stock split subject to shareholder approval.

What to Look For and Look Out For: One quick caveat - this is not a new name to attentive CANSLIM fans, and it has already managed a solid run that has lasted nearly two years. Some analysts note that late-stage bases can be more failure-prone.  We advise letting the stock's price/volume action dictate your action as there is no way to predict the longevity of this leader’s run.  Additional gains on heavy volume would be a nice reassurance, and progress into new high ground may likely prompt additional buyers and help it build more upward momentum - do not buy if it gets too extended.  Declines on above average volume leading to any technical deterioration of the upward trend would be serious warning flags to watch out for.  A 7-8% stop loss order should be seriously considered if you have any problems with your sell discipline. 

Technical Analysis: Since breaking out on April 28, 2003 from the $10 level (see a 2-year chart), shares of UPL have skyrocketed more than five-fold. The stock has comfortably traded above its steadily rising 200-day moving average (the red line) during its ascent, but pullbacks from time-to-time violated its 50-day moving average line.  Following its January 18th gap up gains on above average volume that lifted it over its 50 DMA, notice how that important short-term average acted like a springboard during the January 31st and February 7th sessions - the stock bounced off this key support line giving a sign of institutional demand as it reversed from losses to end each day with gains and near its intraday highs. You might also notice an earlier reversal session on December 8th, when UPL fell to an intraday low of $43.38 before the bulls wrestled control by session’s end to propel the stock to a gain on above average volume.  Then its December 14th gap up gains came on a whopping 2.3 million shares as it hurtled above its 50 DMA.  It blasted above the pivot point identified above on February 9th as volume spiked up more than 50%+ above average.  That action could be considered a technical buy signal even before it reached a new 52-week high of $56.49 as trading rose 43%+ above the average daily volume on February 11th.  It has since been holding its ground, and the small retreat came on light volume, signaling patience by current holders and not a rush to the exits. 

Comments contained in the body of this report are technical opinions only. The material herein has been obtained from sources believed to be reliable and accurate, however, its accuracy and completeness cannot be guaranteed. Our firm, employees, and customers may effect transactions, including transactions contrary to any recommendation herein, or have positions in the securities mentioned herein or options with respect thereto. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities.

This is a service provided by CANSLIM.net News to all current paying subscribers of CANSLIM.net News and CANSLIM.net Stock Alert Reports. We are interested in hearing your feedback. Direct your questions or comments to jamest@canslim.net.  More information on any issues is available by request, just call 1-800-965-8307.  Information contained herein is believed accurate but not warranted.  CANSLIM.net is not an investment advisor, hence it does not endorse or recommend any securities or other investments. Any recommendation contained in this report may not be suitable for all investors and it is not to be deemed an offer or solicitation on our part with respect to the purchase or sale of any securities.

© Copyright 2005, http://www.canslim.net/. All rights reserved and protected by the copyright laws of the United States and Canada and by international treaties. CAN SLIM (written here as "CANSLIM" or "Canslim:) is a registered trademark of William O'Neil + Co.  CANSLIM.net is not owned nor affiliated with William O'Neil + Co. or any of their subsidiaries including The Investor's Business Daily newspaper.

 

About : Frank E. Testa
Frank E. Testa has earned his Chartered Market Technician (CMT) designation and is a Director & Chief Technical Analyst at Ipreo. Frank is a devoted practitioner of the CAN SLIM® methodology and a regular contributor to CANSLIM.net. In addition, Frank is the author of "Candlesticks: Shedding the Light on Pattern Analysis" and developer of the Power Point and Figure Charting Method that was published in "The Journal of Technical Analysis." Frank can be reached at Frank.Testa@ipreo.com.
You can contact Frank E. Testa at frank.testa@cap-bridge.com

 
The information and writings made avaialable by individuals that successfully passed the  CAN SLIM® Masters Program are their own.  Copyright © 1996-2024 Gruneisen Growth Corp. All rights reserved. Protected by the copyright laws of the United States and Canada and by international treaties. 


Kenneth J. Gruneisen founded Gruneisen Growth Corp. (2003), which prior to May 11, 2015, operated CANSLIM.net and CANSLIM.com both under license from Data Analysis Inc. / Investor's Business Daily. Kenneth has passed the CAN SLIM® Master's Exam. Gruneisen Growth Corp. now continues over two decades of fact based market analysis via FactBasedInvesting.com.

Copyright © 1996-2024 Gruneisen Growth Corp. All rights reserved. Protected by the copyright laws of the United States and Canada and by international treaties

Privacy Policy | Terms of Use | Contact Us