Unit Corporation (UNT) Shares Up 5.4%
Unit Corporation (NYSE:UNT) shot up 5.4% on Wednesday . The company traded as high as $18.65 and last traded at $18.29. 736,889 shares traded hands during mid-day trading, an increase of 34% from the average session volume of 550,373 shares. The stock had previously closed at $17.35.
A number of brokerages have weighed in on UNT. Zacks Investment Research raised shares of Unit Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Cowen and Company set a $25.00 price objective on shares of Unit Corporation and gave the company a “hold” rating in a research note on Tuesday, July 18th. Scotiabank reaffirmed a “hold” rating and set a $26.00 price objective on shares of Unit Corporation in a research note on Friday, June 30th. BidaskClub lowered shares of Unit Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, KLR Group lowered shares of Unit Corporation from a “buy” rating to a “hold” rating and reduced their price objective for the company from $23.00 to $19.00 in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Unit Corporation has an average rating of “Hold” and an average target price of $26.00.
The company has a market capitalization of $967.29 million, a price-to-earnings ratio of 351.73 and a beta of 2.79. The stock has a 50 day moving average price of $17.04 and a 200-day moving average price of $19.63.
Unit Corporation (NYSE:UNT) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $170.58 million during the quarter, compared to the consensus estimate of $178.59 million. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) earnings per share. On average, equities research analysts anticipate that Unit Corporation will post $0.50 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new stake in Unit Corporation in the first quarter valued at approximately $106,000. Jane Street Group LLC purchased a new stake in Unit Corporation in the first quarter valued at approximately $200,000. Laurion Capital Management LP purchased a new stake in Unit Corporation in the first quarter valued at approximately $205,000. State of Alaska Department of Revenue grew its holdings in Unit Corporation by 82.9% in the second quarter. State of Alaska Department of Revenue now owns 10,428 shares of the oil and gas company’s stock valued at $195,000 after purchasing an additional 4,728 shares during the period. Finally, Wedge Capital Management L L P NC grew its holdings in Unit Corporation by 9.7% in the first quarter. Wedge Capital Management L L P NC now owns 10,454 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 925 shares during the period. Hedge funds and other institutional investors own 92.57% of the company’s stock.
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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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