Stock Traders Purchase Large Volume of Put Options on Unit (UNT)

Unit Co. (NYSE:UNT) was the target of some unusual options trading on Wednesday. Stock traders bought 632 put options on the company. This is an increase of approximately 1,009% compared to the average volume of 57 put options.

NYSE UNT opened at $21.45 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.61. Unit has a 12-month low of $15.29 and a 12-month high of $26.82. The stock has a market cap of $1,010.83, a price-to-earnings ratio of 39.72 and a beta of 2.93.

Unit (NYSE:UNT) last posted its quarterly earnings results on Thursday, February 22nd. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. Unit had a net margin of 15.93% and a return on equity of 2.19%. The business had revenue of $204.85 million during the quarter, compared to analyst estimates of $199.77 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. sell-side analysts predict that Unit will post 0.98 earnings per share for the current fiscal year.



Hedge funds and other institutional investors have recently bought and sold shares of the business. Granite Investment Advisors LLC boosted its holdings in shares of Unit by 15.3% during the fourth quarter. Granite Investment Advisors LLC now owns 24,159 shares of the oil and gas company’s stock worth $531,000 after purchasing an additional 3,200 shares during the period. Rhumbline Advisers boosted its holdings in shares of Unit by 3.1% during the fourth quarter. Rhumbline Advisers now owns 126,733 shares of the oil and gas company’s stock worth $2,788,000 after purchasing an additional 3,751 shares during the period. Swiss National Bank boosted its holdings in shares of Unit by 5.0% during the fourth quarter. Swiss National Bank now owns 89,000 shares of the oil and gas company’s stock worth $1,958,000 after purchasing an additional 4,200 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Unit by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 440,323 shares of the oil and gas company’s stock worth $9,687,000 after purchasing an additional 4,254 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Unit by 26.2% during the fourth quarter. UBS Asset Management Americas Inc. now owns 22,161 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 4,600 shares during the period. Institutional investors and hedge funds own 94.73% of the company’s stock.

A number of research firms recently commented on UNT. Johnson Rice began coverage on Unit in a research note on Wednesday, March 21st. They issued a “hold” rating and a $26.00 target price on the stock. SunTrust Banks set a $27.00 target price on Unit and gave the company a “buy” rating in a research note on Friday, February 23rd. ValuEngine lowered shares of Unit from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Cowen set a $27.00 price target on shares of Unit and gave the company a “hold” rating in a research report on Thursday, January 18th. Finally, Zacks Investment Research upgraded shares of Unit from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Saturday, January 6th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $24.71.

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About Unit

Unit Corporation, together with its subsidiaries, operates as an oil and natural gas contract drilling company in the United States. The company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties, principally located in Oklahoma and Texas, as well as in Arkansas, Colorado, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Utah, and Wyoming.

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