Unit Corp. (UNT) Trading 2.9% Higher
Unit Corp. (NYSE:UNT) shares traded up 2.9% during trading on Monday . The stock traded as high as $17.79 and last traded at $17.70, with a volume of 292,447 shares traded. The stock had previously closed at $17.20.
Several research analysts have commented on the company. Seaport Global Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Unit Corp. in a research report on Friday, June 24th. KLR Group downgraded Unit Corp. from a “buy” rating to an “accumulate” rating and lowered their target price for the company from $16.00 to $15.00 in a research note on Thursday, May 26th. Zacks Investment Research upgraded Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Saturday, July 30th. National Securities reiterated a “buy” rating and issued a $18.00 target price on shares of Unit Corp. in a research note on Monday, May 9th. Finally, Raymond James Financial Inc. upgraded Unit Corp. from a “market perform” rating to a “strong-buy” rating and set a $20.00 target price on the stock in a research note on Friday, May 6th. One 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. The stock currently has an average rating of “Buy” and a consensus target price of $18.57.
The firm’s 50 day moving average price is $14.56 and its 200-day moving average price is $12.44. The firm’s market cap is $901.82 million.
Unit Corp. (NYSE:UNT) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. The business earned $138.30 million during the quarter, compared to analysts’ expectations of $131.05 million. The company’s revenue for the quarter was down 35.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) EPS. Analysts anticipate that Unit Corp. will post ($0.73) EPS for the current year.
An institutional investor recently raised its position in Unit Corp. stock. Connor Clark & Lunn Investment Management Ltd. raised its position 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. 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 approximately 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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