The HR/FB ratio being down to luck has nothing to do with being a ground ball pitcher - it's not the amount of home runs allowed, it's the ratio of home runs to flyballs. If the ratio is 10% then 1 in 10 of all flyballs will end up being home runs - currently only 1 in 25 of Ubaldos flyballs are leaving the park and this simply won't continue. Similarly with his BABIP - it is a
random statistic which I presume is normally distributed and should revert closer to the MLB mean of .300.
As to his ERA for the rest of this season, the best estimate is that it will equal his current xFIP which was 3.61 going into today's game (and probably increased after today's outing). The ZiPS model predicts a 3.74 ERA for the rest of the season to give him a season end record of 22-7 with a 2.64 ERA.