Unit Corp. (UNT) Trading Up 13.7%
Shares of Unit Corp. (NYSE:UNT) were up 13.7% during trading on Tuesday . The stock traded as high as $16.01 and last traded at $15.86, with a volume of 480,690 shares. The stock had previously closed at $13.95.
Several analysts recently commented on UNT shares. KLR Group lowered Unit Corp. from a “buy” rating to an “accumulate” rating and dropped their target price for the stock from $16.00 to $15.00 in a report on Thursday, May 26th. National Securities reaffirmed a “buy” rating and set a $18.00 target price on shares of Unit Corp. in a report on Monday, May 9th. Seaport Global Securities reaffirmed a “buy” rating and set a $22.00 target price on shares of Unit Corp. in a report on Friday, June 24th. Zacks Investment Research raised Unit Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, March 16th. Finally, Raymond James Financial Inc. raised Unit Corp. from a “market perform” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a report on Friday, May 6th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Unit Corp. currently has a consensus rating of “Buy” and an average target price of $19.75.
The stock has a 50-day moving average price of $15.43 and a 200 day moving average price of $11.21. The firm’s market cap is $764.12 million.
Unit Corp. (NYSE:UNT) last issued its quarterly earnings results on Thursday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.01. The business earned $136.20 million during the quarter, compared to the consensus estimate of $157.08 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The firm’s revenue for the quarter was down 46.6% on a year-over-year basis. Analysts forecast that Unit Corp. will post ($0.94) EPS for the current fiscal year.
Other hedge funds and institutional investors have modified their holdings of the company. GSA Capital Partners LLP raised its position in shares of Unit Corp. by 17.1% in the fourth quarter. GSA Capital Partners LLP now owns 91,113 shares of the company’s stock worth $1,112,000 after buying an additional 13,278 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Unit Corp. by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 93,351 shares of the company’s stock worth $1,139,000 after buying an additional 1,600 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Unit Corp. by 11.5% in the fourth quarter. California Public Employees Retirement System now owns 266,658 shares of the company’s stock worth $3,253,000 after buying an additional 27,500 shares in the last quarter. Guinness Asset Management Ltd raised its position in shares of Unit Corp. by 3.4% in the fourth quarter. Guinness Asset Management Ltd now owns 276,823 shares of the company’s stock worth $3,377,000 after buying an additional 9,229 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of Unit Corp. during the fourth quarter worth $8,483,000.
Unit Corporation is an oil and natural gas contract drilling company. The Company has operations in the exploration and production and mid-stream areas. The Company operates through three segments: Oil and Natural Gas, Contract Drilling and Mid-Stream. It is primarily engaged in the exploration, development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing and treating of natural gas.
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