Shares of Unit Corp. (NYSE:UNT) rose 3.4% during mid-day trading on Tuesday . The company traded as high as $17.57 and last traded at $17.48, with a volume of 346,735 shares trading hands. The stock had previously closed at $16.91.

UNT has been the subject of a number of research reports. Raymond James Financial Inc. upgraded 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. KLR Group lowered Unit Corp. from a “buy” rating to an “accumulate” rating and lowered their target price for the stock from $16.00 to $15.00 in a report on Thursday, May 26th. Seaport Global Securities restated a “buy” rating and set a $22.00 target price on shares of Unit Corp. in a report on Friday, June 24th. National Securities restated a “buy” rating and set a $18.00 target price on shares of Unit Corp. in a report on Monday, May 9th. Finally, Zacks Investment Research upgraded Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a report on Saturday, July 30th. One equities research 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. currently has a consensus rating of “Buy” and a consensus price target of $18.57.

The firm’s market cap is $868.34 million. The stock has a 50-day moving average price of $14.30 and a 200 day moving average price of $12.20.

Unit Corp. (NYSE:UNT) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.07. During the same quarter in the prior year, the business earned ($0.12) EPS. The firm had revenue of $138.30 million for the quarter, compared to analyst estimates of $131.05 million. The firm’s quarterly revenue was down 35.5% on a year-over-year basis. On average, analysts anticipate that Unit Corp. will post ($0.77) EPS for the current year.

A hedge fund recently raised its stake in Unit Corp. stock. California Public Employees Retirement System boosted its position in Unit Corp. (NYSE:UNT) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,658 shares of the company’s stock after buying an additional 27,500 shares during the period. California Public Employees Retirement System owned 0.53% of Unit Corp. worth $3,253,000 at the end of the most recent 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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