Zacks Investment Research lowered shares of Unit Corporation (NYSE:UNT) from a hold rating to a sell rating in a report published on Thursday morning.

According to Zacks, “UNIT CORP. is engaged in the land contract drilling of oil and natural gas wells, the development, acquisition and production of oil and natural gas properties, and the marketing of natural gas. Its principal areas of operations are located in the Anadarko and Arkoma Basins, which cover portions of Oklahoma, Texas, Kansas and Arkansas and has additional producing properties located in other states, including but not limited to, New Mexico, Louisiana, North Dakota, Colorado, Wyoming, Montana, Alabama and Mississippi. “

Several other research firms have also commented on UNT. BidaskClub lowered shares of Unit Corporation from a hold rating to a sell rating in a report on Friday, July 28th. KLR Group raised shares of Unit Corporation from a hold rating to a buy rating and set a $20.00 target price on the stock in a report on Wednesday, August 23rd. Scotiabank reissued a hold rating and issued a $26.00 target price on shares of Unit Corporation in a report on Friday, June 30th. Finally, Cowen and Company reissued a hold rating and issued a $25.00 target price on shares of Unit Corporation in a report on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Unit Corporation has a consensus rating of Hold and a consensus target price of $25.25.

Unit Corporation (NYSE UNT) opened at 19.93 on Thursday. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 383.27 and a beta of 2.84. Unit Corporation has a 52-week low of $15.29 and a 52-week high of $30.63. The firm has a 50-day moving average of $18.13 and a 200-day moving average of $19.16.

Unit Corporation (NYSE:UNT) last released its earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The firm had revenue of $170.58 million for the quarter, compared to analyst estimates of $178.59 million. During the same period last year, the firm earned ($0.15) EPS. The business’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, equities research analysts forecast that Unit Corporation will post $0.51 EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of Unit Corporation by 23,333.4% during the 1st quarter. BlackRock Inc. now owns 6,658,614 shares of the oil and gas company’s stock valued at $160,872,000 after purchasing an additional 6,630,199 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Unit Corporation by 8.6% during the 2nd quarter. Vanguard Group Inc. now owns 6,428,609 shares of the oil and gas company’s stock valued at $120,407,000 after purchasing an additional 511,139 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Unit Corporation by 21.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,761,169 shares of the oil and gas company’s stock valued at $70,446,000 after purchasing an additional 663,526 shares during the last quarter. State Street Corp grew its holdings in shares of Unit Corporation by 4.3% during the 2nd quarter. State Street Corp now owns 1,750,811 shares of the oil and gas company’s stock valued at $32,790,000 after purchasing an additional 72,505 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of Unit Corporation by 9.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,444,525 shares of the oil and gas company’s stock valued at $27,056,000 after purchasing an additional 127,137 shares during the last quarter. 92.57% of the stock is currently owned by institutional investors.

Unit Corporation Company Profile

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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