Unit Corp. (UNT) Trading Up 6.8%
Unit Corp. (NYSE:UNT) rose 6.8% during trading on Monday . The stock traded as high as $15.90 and last traded at $15.85, with a volume of 483,512 shares. The stock had previously closed at $14.84.
UNT has been the subject of several analyst reports. KLR Group lowered Unit Corp. from a “buy” rating to an “accumulate” rating and reduced their price objective for the stock from $16.00 to $15.00 in a research note on Thursday, May 26th. Zacks Investment Research upgraded Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Saturday, July 30th. Seaport Global Securities restated a “buy” rating and issued a $22.00 price objective on shares of Unit Corp. in a research note on Friday, June 24th. National Securities restated a “buy” rating and issued a $18.00 price objective on shares of Unit Corp. in a research note on Monday, May 9th. Finally, Raymond James Financial Inc. upgraded Unit Corp. from a “market perform” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research note on Friday, May 6th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $18.57.
The stock’s market capitalization is $801.90 million. The firm has a 50-day moving average of $14.04 and a 200 day moving average of $11.80.
Unit Corp. (NYSE:UNT) last issued its earnings results on Thursday, August 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. During the same period last year, the business earned ($0.12) EPS. The business had revenue of $138.30 million for the quarter, compared to analysts’ expectations of $131.05 million. The company’s revenue for the quarter was down 35.5% on a year-over-year basis. On average, analysts expect that Unit Corp. will post ($0.84) earnings per share for the current fiscal year.
Several hedge funds and institutional investors have modified their holdings of the company. River Road Asset Management LLC boosted its position in shares of Unit Corp. by 48.2% in the fourth quarter. River Road Asset Management LLC now owns 294,359 shares of the company’s stock valued at $3,591,000 after buying an additional 95,741 shares during the period. GSA Capital Partners LLP boosted 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 worth $1,112,000 after buying an additional 13,278 shares during the last quarter. Finally, California Public Employees Retirement System boosted 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 worth $3,253,000 after buying an additional 27,500 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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