Unit Corp. (UNT) Trading Up 2.7%
Shares of Unit Corp. (NYSE:UNT) were up 2.7% during trading on Tuesday . The company traded as high as $11.78 and last traded at $11.59, with a volume of 478,137 shares changing hands. The stock had previously closed at $11.29.
A number of analysts recently commented on UNT shares. 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 report on Friday, May 6th. KLR Group cut Unit Corp. from a “buy” rating to an “accumulate” rating and reduced their price objective for the company from $16.00 to $15.00 in a research report on Thursday, May 26th. Seaport Global Securities reiterated a “buy” rating and set 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 target on shares of Unit Corp. in a research 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 price target for the company in a research report on Saturday. One equities research 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 stock. The stock currently has an average rating of “Buy” and an average price target of $19.88.
The stock has a 50 day moving average of $14.72 and a 200-day moving average of $11.53. The firm’s market capitalization is $596.48 million.
Unit Corp. (NYSE:UNT) last posted its quarterly earnings data on Thursday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.01. The firm earned $136.20 million during the quarter, compared to analysts’ expectations of $157.08 million. Unit Corp.’s quarterly revenue was down 46.6% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. On average, equities analysts forecast that Unit Corp. will post ($0.87) EPS for the current fiscal year.
Other hedge funds have bought and sold shares of the company. Cibc World Markets Corp acquired a new stake in Unit Corp. during the fourth quarter worth $8,483,000. Guinness Asset Management Ltd boosted its stake in Unit Corp. by 3.4% in the fourth quarter. Guinness Asset Management Ltd now owns 276,823 shares of the company’s stock worth $3,377,000 after buying an additional 9,229 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Unit Corp. by 27.7% in the fourth quarter. Victory Capital Management Inc. now owns 2,142,702 shares of the company’s stock worth $26,141,000 after buying an additional 465,075 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of 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 in the last quarter. Finally, California Public Employees Retirement System boosted 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 worth $3,253,000 after buying an additional 27,500 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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