Unit Corp. (NYSE:UNT) shares fell 9% on Monday . The stock traded as low as $12.37 and last traded at $12.49, with a volume of 628,627 shares. The stock had previously closed at $13.73.

Several brokerages have weighed in on UNT. Raymond James Financial Inc. raised shares of Unit Corp. from a “market perform” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a report on Friday, May 6th. KLR Group lowered shares of Unit Corp. from a “buy” rating to an “accumulate” rating and decreased their price objective for the stock from $16.00 to $15.00 in a report on Thursday, May 26th. National Securities reaffirmed a “buy” rating and issued a $18.00 price target on shares of Unit Corp. in a report on Monday, May 9th. Finally, Seaport Global Securities reaffirmed a “buy” rating and issued a $22.00 price target on shares of Unit Corp. in a report on Friday, June 24th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $19.75.

The stock’s market cap is $636.59 million. The firm’s 50 day moving average is $15.34 and its 200 day moving average is $11.38.

Unit Corp. (NYSE:UNT) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.01. The company earned $136.20 million during the quarter, compared to analyst estimates of $157.08 million. The business’s quarterly revenue was down 46.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.08 earnings per share. Analysts predict that Unit Corp. will post ($1.00) earnings per share for the current year.

A number of hedge funds recently modified their holdings of UNT. Victory Capital Management Inc. boosted its stake in shares of Unit Corp. by 27.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,142,702 shares of the company’s stock worth $26,141,000 after buying an additional 465,075 shares during the period. Cibc World Markets Corp acquired a new stake in Unit Corp. during the fourth quarter valued at $8,483,000. Guinness Asset Management Ltd boosted its stake in Unit Corp. by 3.4% in the fourth quarter. Guinness Asset Management Ltd now owns 276,823 shares of the company’s stock valued at $3,377,000 after buying an additional 9,229 shares during the last quarter. California Public Employees Retirement System boosted its stake in Unit Corp. by 11.5% in the fourth quarter. California Public Employees Retirement System now owns 266,658 shares of the company’s stock valued at $3,253,000 after buying an additional 27,500 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Unit Corp. by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 93,351 shares of the company’s stock valued at $1,139,000 after buying an additional 1,600 shares during the last quarter.

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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