Unit Corp. (NYSE:UNT)’s share price dropped 8.2% during mid-day trading on Monday . The stock traded as low as $11.18 and last traded at $11.48, with a volume of 455,298 shares changing hands. The stock had previously closed at $12.50.

UNT has been the topic of several recent analyst reports. KLR Group downgraded shares of Unit Corp. from a “buy” rating to an “accumulate” rating and reduced their price objective for the company from $16.00 to $15.00 in a research note on Thursday, May 26th. Zacks Investment Research raised shares of Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Saturday. Seaport Global Securities reissued a “buy” rating and set a $22.00 price objective on shares of Unit Corp. in a research note on Friday, June 24th. National Securities reissued a “buy” rating and set a $18.00 price objective on shares of Unit Corp. in a research note on Monday, May 9th. Finally, 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 on the stock in a research note on Friday, May 6th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.88.

The company’s market capitalization is $580.54 million. The company has a 50-day moving average of $14.96 and a 200 day moving average of $11.42.

Unit Corp. (NYSE:UNT) last released its earnings results on Thursday, May 5th. The company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.01. The business had revenue of $136.20 million for the quarter, compared to analysts’ expectations of $157.08 million. The company’s revenue for the quarter was down 46.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. On average, equities research analysts expect that Unit Corp. will post ($0.87) EPS for the current fiscal year.

Other institutional investors have made changes to their positions in the company. Cibc World Markets Corp acquired a new position in shares of Unit Corp. during the fourth quarter valued at about $8,483,000. Guinness Asset Management Ltd boosted 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 valued at $3,377,000 after buying an additional 9,229 shares in the last quarter. Victory Capital Management Inc. boosted its position 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 valued at $26,141,000 after buying an additional 465,075 shares in the last quarter. GSA Capital Partners LLP boosted 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 valued at $1,112,000 after buying an additional 13,278 shares in the last quarter. Finally, California Public Employees Retirement System boosted 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 valued at $3,253,000 after buying an additional 27,500 shares in 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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