Unit Co. (NYSE:UNT)’s share price shot up 6.8% during mid-day trading on Friday . The stock traded as high as $3.11 and last traded at $2.99, 604,631 shares were traded during trading. An increase of 7% from the average session volume of 563,302 shares. The stock had previously closed at $2.80.

Several research firms have issued reports on UNT. Zacks Investment Research upgraded shares of Unit from a “sell” rating to a “hold” rating in a report on Saturday, July 13th. ValuEngine upgraded shares of Unit from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, Raymond James set a $14.00 price target on shares of Unit and gave the stock a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $19.00.

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.67 and a current ratio of 0.67. The firm’s fifty day simple moving average is $3.19 and its 200-day simple moving average is $8.21. The stock has a market cap of $155.50 million, a P/E ratio of 6.67 and a beta of 2.72.

Unit (NYSE:UNT) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.29). The firm had revenue of $165.20 million for the quarter, compared to the consensus estimate of $185.61 million. Unit had a positive return on equity of 1.31% and a negative net margin of 8.99%. The firm’s revenue for the quarter was down 18.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. Analysts predict that Unit Co. will post -0.13 earnings per share for the current fiscal year.

In related news, EVP Frank Q. Young acquired 10,000 shares of Unit stock in a transaction dated Tuesday, August 13th. The stock was bought at an average price of $2.74 per share, with a total value of $27,400.00. Following the transaction, the executive vice president now directly owns 103,848 shares in the company, valued at approximately $284,543.52. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have bought 19,000 shares of company stock valued at $66,580. Insiders own 5.16% of the company’s stock.

Several hedge funds have recently made changes to their positions in UNT. Arizona State Retirement System grew its position in Unit by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 86,043 shares of the oil and gas company’s stock valued at $765,000 after purchasing an additional 2,176 shares during the period. Swiss National Bank grew its position in Unit by 2.7% in the 2nd quarter. Swiss National Bank now owns 101,200 shares of the oil and gas company’s stock valued at $900,000 after purchasing an additional 2,700 shares during the period. Strs Ohio grew its position in Unit by 7.6% in the 2nd quarter. Strs Ohio now owns 41,000 shares of the oil and gas company’s stock valued at $364,000 after purchasing an additional 2,900 shares during the period. Elkfork Partners LLC lifted its stake in Unit by 30.1% during the 2nd quarter. Elkfork Partners LLC now owns 13,596 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 3,146 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in Unit by 10.2% during the 2nd quarter. Bank of Montreal Can now owns 38,251 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 3,533 shares in the last quarter. 86.38% of the stock is owned by institutional investors.

Unit Company Profile (NYSE:UNT)

Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.

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