Unit Corp. (UNT) Trading Up 3.4%
Shares of Unit Corp. (NYSE:UNT) were up 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.
A number of analysts recently issued reports 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 on the stock in a research note on Friday, May 6th. Seaport Global Securities reiterated a “buy” rating and set a $22.00 price objective on shares of Unit Corp. in a research note on Friday, June 24th. Zacks Investment Research upgraded Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Saturday, July 30th. KLR Group lowered 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 note on Thursday, May 26th. Finally, National Securities reiterated a “buy” rating and set a $18.00 price objective on shares of Unit Corp. in a research note on Monday, May 9th. 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’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.57.
The firm’s market cap is $891.52 million. The firm has a 50-day moving average price of $14.13 and a 200 day moving average price of $12.12.
Unit Corp. (NYSE:UNT) last issued its quarterly earnings data 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 had revenue of $138.30 million for the quarter, compared to the consensus estimate of $131.05 million. The company’s revenue was down 35.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.12) earnings per share. Equities research analysts predict that Unit Corp. will post ($0.77) earnings per share for the current fiscal year.
An institutional investor 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 disclosure with the Securities and Exchange Commission (SEC). The fund 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 about 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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