Unit Corporation (UNT) Trading Down 4.5%

Unit Corporation (NYSE:UNT) shares fell 4.5% during mid-day trading on Monday . The company traded as low as $21.35 and last traded at $22.83. 746,000 shares were traded during mid-day trading, an increase of 24% from the average session volume of 603,544 shares. The stock had previously closed at $21.85.

A number of research firms have recently issued reports on UNT. Scotiabank reissued a “hold” rating and issued a $23.00 target price on shares of Unit Corporation in a report on Friday, November 3rd. SunTrust Banks, Inc. reissued a “buy” rating and issued a $25.00 target price on shares of Unit Corporation in a report on Friday, November 3rd. Zacks Investment Research lowered Unit Corporation from a “hold” rating to a “sell” rating in a report on Friday, October 27th. KLR Group lowered Unit Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. 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 analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $24.60.

The company has a current ratio of 0.67, a quick ratio of 0.66 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $1,135.33, a P/E ratio of 39.04 and a beta of 2.85.

Unit Corporation (NYSE:UNT) last posted its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). Unit Corporation had a net margin of 4.28% and a return on equity of 2.33%. The business had revenue of $188.49 million during the quarter, compared to analysts’ expectations of $189.44 million. During the same quarter last year, the firm earned $0.04 earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. equities research analysts expect that Unit Corporation will post 0.51 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the stock. OxFORD Asset Management LLP boosted its stake in shares of Unit Corporation by 66.5% in the third quarter. OxFORD Asset Management LLP now owns 62,324 shares of the oil and gas company’s stock valued at $1,291,000 after buying an additional 24,885 shares in the last quarter. KBC Group NV boosted its stake in shares of Unit Corporation by 156.4% in the third quarter. KBC Group NV now owns 96,221 shares of the oil and gas company’s stock valued at $1,980,000 after buying an additional 58,688 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Unit Corporation by 3.9% in the third quarter. Dimensional Fund Advisors LP now owns 3,908,501 shares of the oil and gas company’s stock valued at $80,437,000 after buying an additional 147,332 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Unit Corporation by 2.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 605,847 shares of the oil and gas company’s stock valued at $12,469,000 after buying an additional 16,246 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Unit Corporation by 16.9% in the third quarter. Nordea Investment Management AB now owns 120,397 shares of the oil and gas company’s stock valued at $2,478,000 after buying an additional 17,442 shares in the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.

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About Unit Corporation

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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