Unit (NYSE:UNT) Stock Price Up 36.7%

Unit Co. (NYSE:UNT) traded up 36.7% during mid-day trading on Monday . The company traded as high as $4.55 and last traded at $4.54, 2,119,987 shares traded hands during mid-day trading. An increase of 297% from the average session volume of 533,612 shares. The stock had previously closed at $3.32.

A number of equities analysts recently commented on the stock. Raymond James set a $14.00 price objective on shares of Unit and gave the stock a “buy” rating in a research note on Wednesday, August 7th. TheStreet downgraded shares of Unit from a “c-” rating to a “d+” rating in a research note on Tuesday, May 21st. Finally, Zacks Investment Research raised shares of Unit from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Unit has a consensus rating of “Hold” and an average price target of $19.00.

The company has a market cap of $184.94 million, a P/E ratio of 4.54 and a beta of 2.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $3.75 and its 200 day moving average is $9.67.



Unit (NYSE:UNT) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.29). The business had revenue of $165.20 million during the quarter, compared to the consensus estimate of $185.61 million. Unit had a positive return on equity of 1.31% and a negative net margin of 8.99%. The business’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period last year, the firm earned $0.21 EPS. As a group, equities research analysts forecast that Unit Co. will post -0.04 EPS for the current year.

In other Unit news, EVP Frank Q. Young acquired 10,000 shares of Unit stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of $2.74 per share, with a total value of $27,400.00. Following the completion of the purchase, the executive vice president now directly owns 103,848 shares of the company’s stock, valued at approximately $284,543.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 19,000 shares of company stock valued at $66,580 in the last three months. 5.16% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of UNT. Global Alpha Capital Management Ltd. increased its position in shares of Unit by 76.9% during the second quarter. Global Alpha Capital Management Ltd. now owns 1,347,491 shares of the oil and gas company’s stock worth $11,979,000 after purchasing an additional 585,610 shares in the last quarter. Marshall Wace LLP increased its position in shares of Unit by 2,494.2% during the first quarter. Marshall Wace LLP now owns 496,096 shares of the oil and gas company’s stock worth $7,065,000 after purchasing an additional 476,973 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Unit by 10.7% during the second quarter. Victory Capital Management Inc. now owns 3,597,666 shares of the oil and gas company’s stock worth $31,983,000 after purchasing an additional 348,325 shares in the last quarter. Morgan Stanley increased its position in shares of Unit by 135.9% during the second quarter. Morgan Stanley now owns 452,362 shares of the oil and gas company’s stock worth $4,023,000 after purchasing an additional 260,576 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of Unit during the second quarter worth $1,963,000. 86.38% of the stock is currently owned by institutional investors and hedge funds.

About Unit (NYSE:UNT)

Unit Corporation, together with its subsidiaries, engages in the exploration, acquisition, development, and production of oil and natural gas properties in the United States. It operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment explores for, acquires, develops, and produces oil and natural gas properties.

Further Reading: What is a Roth IRA?

Receive News & Ratings for Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unit and related companies with MarketBeat.com's FREE daily email newsletter.