Unit (NYSE:UNT) Shares Gap Up to $0.88

Unit Co. (NYSE:UNT) shares gapped up prior to trading on Wednesday . The stock had previously closed at $0.85, but opened at $0.88. Unit shares last traded at $0.90, with a volume of 2,029,474 shares.

Several analysts recently commented on UNT shares. ValuEngine raised Unit from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 1st. Zacks Investment Research lowered Unit from a “hold” rating to a “strong sell” rating in a report on Saturday, October 19th. Finally, Raymond James lowered Unit from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Unit presently has a consensus rating of “Hold” and an average target price of $19.00.

The company has a fifty day simple moving average of $2.56 and a 200-day simple moving average of $6.17. 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 firm has a market cap of $50.54 million, a P/E ratio of 0.90 and a beta of 2.69.

Unit (NYSE:UNT) last released its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.06). Unit had a negative net margin of 40.93% and a negative return on equity of 0.65%. The company had revenue of $155.44 million for the quarter, compared to the consensus estimate of $160.87 million. During the same period in the prior year, the firm posted $0.30 EPS. The business’s revenue for the quarter was down 29.4% on a year-over-year basis. As a group, research analysts forecast that Unit Co. will post -0.59 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System increased its stake in Unit by 2.6% during the second quarter. Arizona State Retirement System now owns 86,043 shares of the oil and gas company’s stock worth $765,000 after acquiring an additional 2,176 shares during the last quarter. Swiss National Bank raised its stake in Unit by 2.7% in the 2nd quarter. Swiss National Bank now owns 101,200 shares of the oil and gas company’s stock worth $900,000 after acquiring an additional 2,700 shares during the last quarter. Strs Ohio raised its stake in Unit by 7.6% in the 2nd quarter. Strs Ohio now owns 41,000 shares of the oil and gas company’s stock worth $364,000 after acquiring an additional 2,900 shares during the last quarter. Elkfork Partners LLC raised its stake in Unit by 30.1% in the 2nd quarter. Elkfork Partners LLC now owns 13,596 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 3,146 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in Unit by 10.2% in the 2nd quarter. Bank of Montreal Can now owns 38,251 shares of the oil and gas company’s stock worth $340,000 after acquiring an additional 3,533 shares during the last quarter. 86.37% of the stock is 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.

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