Unit Corp. (NYSE:UNT) gapped up before the market opened on Thursday . The stock had previously closed at $15.92, but opened at $16.09. Unit Corp. shares last traded at $17.06, with a volume of 416,153 shares traded.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Saturday, July 30th. National Securities restated a “buy” rating and set a $18.00 target price on shares of Unit Corp. in a research report on Monday, May 9th. Seaport Global Securities restated a “buy” rating and set a $22.00 target price on shares of Unit Corp. in a research report on Friday, June 24th. 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 research report on Thursday, May 26th. 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 objective on the stock in a research report on Friday, May 6th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Unit Corp. presently has a consensus rating of “Buy” and an average price target of $18.57.

The stock’s 50-day moving average price is $14.11 and its 200-day moving average price is $12.04. The stock’s market cap is $894.61 million.

Unit Corp. (NYSE:UNT) last issued its earnings results 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 earned $138.30 million during the quarter, compared to analyst estimates of $131.05 million. Unit Corp.’s quarterly revenue was down 35.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.12) earnings per share. Equities research analysts predict that Unit Corp. will post ($0.77) earnings per share for the current year.

Other large investors recently modified their holdings of the company. California Public Employees Retirement System raised its stake 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. River Road Asset Management LLC raised its stake 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Unit Corp. by 92.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 111,950 shares of the company’s stock valued at $1,366,000 after buying an additional 53,750 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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