Unit Corp. (UNT) Shares Up 11.9%
Unit Corp. (NYSE:UNT) shot up 11.9% during trading on Monday . The company traded as high as $14.78 and last traded at $14.24, with a volume of 714,118 shares trading hands. The stock had previously closed at $12.72.
Several research firms recently issued reports on UNT. Zacks Investment Research raised shares of Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Saturday, July 30th. National Securities reissued a “buy” rating and set a $18.00 price target on shares of Unit Corp. in a report on Monday, May 9th. Seaport Global Securities reissued a “buy” rating and set a $22.00 price target on shares of Unit Corp. in a report on Friday, June 24th. KLR Group cut shares of Unit Corp. from a “buy” rating to an “accumulate” rating and cut their price target for the stock from $16.00 to $15.00 in a report on Thursday, May 26th. 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 target for the company in a report on Friday, May 6th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Unit Corp. has a consensus rating of “Buy” and a consensus target price of $19.88.
The company’s market capitalization is $703.54 million. The stock’s 50-day moving average price is $14.30 and its 200 day moving average price is $11.71.
Unit Corp. (NYSE:UNT) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. The company had revenue of $138.30 million for the quarter, compared to analyst estimates of $131.05 million. During the same period in the prior year, the business earned ($0.12) earnings per share. Unit Corp.’s revenue was down 35.5% on a year-over-year basis. Equities analysts anticipate that Unit Corp. will post ($0.84) EPS for the current year.
Several hedge funds and institutional investors have bought and sold shares of UNT. GSA Capital Partners LLP raised its position in 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 during the period. California Public Employees Retirement System raised its position 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 period. Finally, Victory Capital Management Inc. raised its position 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 valued at $26,141,000 after buying an additional 465,075 shares during the period.
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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