Unit Corp. (UNT) Shares Down 3.3%
Unit Corp. (NYSE:UNT)’s share price dropped 3.3% during mid-day trading on Monday . The company traded as low as $16.62 and last traded at $16.79, with a volume of 686,141 shares trading hands. The stock had previously closed at $17.37.
UNT has been the topic of a number of analyst reports. KLR Group cut shares of Unit Corp. from a “buy” rating to an “accumulate” rating and decreased their price objective for the company from $16.00 to $15.00 in a research report on Thursday, May 26th. Zacks Investment Research upgraded 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 report 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 report 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 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 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 given a strong buy rating to the company. Unit Corp. currently has an average rating of “Buy” and an average target price of $18.57.
The company’s market cap is $870.92 million. The firm’s 50 day moving average price is $14.13 and its 200 day moving average price is $12.12.
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 Zacks’ consensus estimate of ($0.22) by $0.07. During the same quarter in the prior year, the company posted ($0.12) EPS. The company had revenue of $138.30 million for the quarter, compared to the consensus estimate of $131.05 million. Unit Corp.’s revenue was down 35.5% compared to the same quarter last year. On average, equities research analysts forecast that Unit Corp. will post ($0.77) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Unit Corp. stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Unit Corp. (NYSE:UNT) by 92.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,950 shares of the company’s stock after buying an additional 53,750 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of Unit Corp. worth $1,366,000 at the end of the most recent reporting 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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