Unit Corp. (UNT) Shares Down 1.8%
Unit Corp. (NYSE:UNT) dropped 1.8% during trading on Monday . The stock traded as low as $15.75 and last traded at $15.93, with a volume of 224,513 shares changing hands. The stock had previously closed at $16.22.
UNT has been the topic of several recent research reports. KLR Group upped their price target on shares of Unit Corp. from $17.00 to $19.00 and gave the company an “accumulate” rating in a report on Friday, September 2nd. Seaport Global Securities reaffirmed a “buy” rating and issued a $22.00 price target on shares of Unit Corp. in a report on Friday, June 24th. Finally, Zacks Investment Research raised shares of Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Saturday, July 30th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Unit Corp. has a consensus rating of “Buy” and a consensus target price of $19.14.
The stock’s market capitalization is $789.54 million. The firm has a 50-day moving average price of $16.00 and a 200 day moving average price of $13.57.
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, beating the Zacks’ consensus estimate of ($0.22) by $0.07. Unit Corp. had a negative net margin of 95.26% and a negative return on equity of 2.41%. The business had revenue of $138.30 million for the quarter, compared to analyst estimates of $131.05 million. During the same period last year, the business earned ($0.12) EPS. The company’s revenue was down 35.5% on a year-over-year basis. Analysts expect that Unit Corp. will post ($0.68) EPS for the current year.
Several large investors have recently made changes to their positions in UNT. Aperio Group LLC raised its stake in shares of Unit Corp. by 19.2% in the first quarter. Aperio Group LLC now owns 30,511 shares of the company’s stock worth $269,000 after buying an additional 4,917 shares during the last quarter. Virginia Retirement System purchased a new stake in shares of Unit Corp. during the first quarter worth $487,000. Prudential Financial Inc. raised its stake in shares of Unit Corp. by 37.7% in the first quarter. Prudential Financial Inc. now owns 161,000 shares of the company’s stock worth $1,418,000 after buying an additional 44,100 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Unit Corp. by 2.5% in the first quarter. BlackRock Fund Advisors now owns 3,402,546 shares of the company’s stock worth $29,976,000 after buying an additional 82,521 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Unit Corp. by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 652,822 shares of the company’s stock worth $5,751,000 after buying an additional 21,783 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.
About Unit Corp.
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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