Unit Corp. (NYSE:UNT) dropped 8.2% during mid-day trading on Monday . The company 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 subject of a number of research reports. Seaport Global Securities reiterated a “buy” rating and set a $22.00 price target on shares of Unit Corp. in a research report on Friday, June 24th. Zacks Investment Research upgraded shares of Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Saturday. KLR Group downgraded shares of Unit Corp. from a “buy” rating to an “accumulate” rating and reduced their price target for the company from $16.00 to $15.00 in a research report on Thursday, May 26th. National Securities reiterated a “buy” rating and set a $18.00 price target on shares of Unit Corp. in a research report on Monday, May 9th. Finally, Raymond James Financial Inc. upgraded shares of Unit Corp. from a “market perform” rating to a “strong-buy” rating and set a $20.00 price target for the company in a research report on Friday, May 6th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $19.88.

The stock has a 50-day moving average of $14.72 and a 200 day moving average of $11.53. The company’s market capitalization is $616.54 million.

Unit Corp. (NYSE:UNT) last issued its quarterly 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 company had revenue of $136.20 million for 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 period in the previous year, the business posted $0.08 EPS. Analysts predict that Unit Corp. will post ($0.87) earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System increased its stake 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 valued at $1,139,000 after buying an additional 1,600 shares during the period. California Public Employees Retirement System increased 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 worth $3,253,000 after buying an additional 27,500 shares during the last quarter. GSA Capital Partners LLP increased its stake in 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 during the last quarter. Victory Capital Management Inc. increased its stake in 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 last quarter. Finally, Guinness Asset Management Ltd increased 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 worth $3,377,000 after buying an additional 9,229 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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