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

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 analysts have also commented on UNT. Scotiabank set a $26.00 price objective on shares of Unit Corporation and gave the stock a hold rating in a research report on Thursday, August 3rd. BidaskClub lowered shares of Unit Corporation from a hold rating to a sell rating in a research 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 price objective on the stock in a research report on Wednesday, August 23rd. Finally, Cowen and Company set a $25.00 price objective on shares of Unit Corporation and gave the stock a hold rating in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Unit Corporation presently has an average rating of Hold and an average target price of $25.25.

Unit Corporation (NYSE:UNT) opened at 19.93 on Thursday. Unit Corporation has a 1-year low of $15.29 and a 1-year high of $30.63. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 383.27 and a beta of 2.84. The stock’s 50 day moving average is $18.13 and its 200 day moving average is $19.16.

Unit Corporation (NYSE:UNT) last announced its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $170.58 million for the quarter, compared to analyst estimates of $178.59 million. Unit Corporation had a net margin of 0.39% and a return on equity of 2.07%. The company’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. Analysts predict that Unit Corporation will post $0.51 EPS for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the business. Arizona State Retirement System raised its position in Unit Corporation by 1.5% in the first quarter. Arizona State Retirement System now owns 26,949 shares of the oil and gas company’s stock worth $651,000 after acquiring an additional 400 shares during the period. Delphi Management Inc. MA raised its position in Unit Corporation by 0.6% in the second quarter. Delphi Management Inc. MA now owns 82,607 shares of the oil and gas company’s stock worth $1,547,000 after acquiring an additional 477 shares during the period. Louisiana State Employees Retirement System raised its position in Unit Corporation by 2.4% in the second quarter. Louisiana State Employees Retirement System now owns 21,500 shares of the oil and gas company’s stock worth $403,000 after acquiring an additional 500 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Unit Corporation by 6.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 12,480 shares of the oil and gas company’s stock worth $234,000 after acquiring an additional 710 shares during the period. Finally, Mason Street Advisors LLC raised its position in Unit Corporation by 7.4% in the first quarter. Mason Street Advisors LLC now owns 12,078 shares of the oil and gas company’s stock worth $292,000 after acquiring an additional 827 shares during the period. 92.57% of the stock is currently owned by institutional investors and hedge funds.

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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