Unit Corp. (UNT) Shares Up 4%
Unit Corp. (NYSE:UNT) shot up 4% during trading on Wednesday . The company traded as high as $16.37 and last traded at $15.94, with a volume of 300,477 shares trading hands. The stock had previously closed at $15.33.
A number of research firms have recently commented on UNT. KLR Group cut Unit Corp. from a “buy” rating to an “accumulate” rating and dropped their target price for the company from $16.00 to $15.00 in a research report on Thursday, May 26th. Zacks Investment Research cut Unit Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Seaport Global Securities restated a “buy” rating and set a $22.00 target price on shares of Unit Corp. in a research report on Friday, June 24th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Unit Corp. currently has a consensus rating of “Buy” and a consensus target price of $19.14.
The company’s market cap is $840.01 million. The firm’s 50-day moving average price is $16.00 and its 200 day moving average price is $13.57.
Unit Corp. (NYSE:UNT) last announced its 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. Unit Corp. had a negative net margin of 95.26% and a negative return on equity of 2.41%. The business earned $138.30 million during the quarter, compared to analysts’ expectations of $131.05 million. During the same period in the prior year, the company earned ($0.12) earnings per share. The business’s revenue was down 35.5% compared to the same quarter last year. On average, equities research analysts anticipate that Unit Corp. will post ($0.68) earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in UNT. BNP Paribas Arbitrage SA boosted its stake in shares of Unit Corp. by 231.9% in the second quarter. BNP Paribas Arbitrage SA now owns 29,297 shares of the company’s stock worth $456,000 after buying an additional 20,471 shares during the last quarter. Avalon Advisors LLC boosted its stake in shares of Unit Corp. by 266.4% in the first quarter. Avalon Advisors LLC now owns 82,927 shares of the company’s stock worth $731,000 after buying an additional 60,295 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Unit Corp. by 0.4% in the first quarter. Arizona State Retirement System now owns 26,149 shares of the company’s stock worth $230,000 after buying an additional 100 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Unit Corp. by 13.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 49,059 shares of the company’s stock worth $432,000 after buying an additional 5,881 shares during the last quarter. Finally, HBK Investments L P boosted its stake in shares of Unit Corp. by 3.3% in the first quarter. HBK Investments L P now owns 292,580 shares of the company’s stock worth $2,578,000 after buying an additional 9,455 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.
Unit Corp. 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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