Unit (UNT) Trading Down 6.8%

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Unit Co. (NYSE:UNT) fell 6.8% during trading on Thursday . The company traded as low as $10.84 and last traded at $10.11. 227,223 shares were traded during mid-day trading, a decline of 36% from the average session volume of 352,647 shares. The stock had previously closed at $10.84.

A number of brokerages have recently commented on UNT. Zacks Investment Research cut shares of Unit from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. TheStreet cut shares of Unit from a “c-” rating to a “d+” rating in a report on Tuesday. Raymond James set a $22.00 target price on shares of Unit and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, ValuEngine cut shares of Unit from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.29.

The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $556.90 million, a PE ratio of 10.04 and a beta of 2.67.

Unit (NYSE:UNT) last issued its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.08). Unit had a positive return on equity of 2.79% and a negative net margin of 6.84%. The firm had revenue of $189.70 million for the quarter, compared to analyst estimates of $202.16 million. During the same quarter last year, the firm earned $0.21 earnings per share. The company’s revenue was down 7.5% compared to the same quarter last year. Research analysts expect that Unit Co. will post 0.75 EPS for the current fiscal year.

In other news, insider Mark E. Schell sold 5,500 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $15.51, for a total transaction of $85,305.00. Following the transaction, the insider now directly owns 221,452 shares in the company, valued at $3,434,720.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Parks sold 30,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $14.65, for a total transaction of $439,500.00. Following the transaction, the insider now owns 76,195 shares in the company, valued at $1,116,256.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,181 shares of company stock worth $549,348. Company insiders own 5.16% of the company’s stock.

Several institutional investors have recently modified their holdings of UNT. United Services Automobile Association grew its position in Unit by 7.3% during the fourth quarter. United Services Automobile Association now owns 12,302 shares of the oil and gas company’s stock worth $176,000 after buying an additional 838 shares during the period. SEI Investments Co grew its position in Unit by 95.1% during the first quarter. SEI Investments Co now owns 2,314 shares of the oil and gas company’s stock worth $33,000 after buying an additional 1,128 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Unit by 3.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,288 shares of the oil and gas company’s stock worth $590,000 after buying an additional 1,275 shares during the period. Comerica Bank grew its position in Unit by 2.5% during the first quarter. Comerica Bank now owns 53,807 shares of the oil and gas company’s stock worth $802,000 after buying an additional 1,325 shares during the period. Finally, Texas Permanent School Fund grew its position in Unit by 3.9% during the fourth quarter. Texas Permanent School Fund now owns 35,375 shares of the oil and gas company’s stock worth $505,000 after buying an additional 1,343 shares during the period. Institutional investors and hedge funds own 87.31% of the company’s stock.

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Unit Company Profile (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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