Unit (UNT) Sets New 12-Month Low at $11.07

Unit Co. (NYSE:UNT) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.07 and last traded at $11.10, with a volume of 8560 shares traded. The stock had previously closed at $11.69.

UNT has been the subject of several research reports. Zacks Investment Research downgraded Unit from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. ValuEngine downgraded Unit from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 27th. Finally, Raymond James set a $22.00 price target on Unit and gave the company a “buy” rating in a report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $24.29.

The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 0.43. The firm has a market cap of $648.44 million, a price-to-earnings ratio of 11.58 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 for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.08). The business had revenue of $189.70 million during the quarter, compared to analyst estimates of $202.16 million. Unit had a negative net margin of 6.84% and a positive return on equity of 2.79%. The company’s revenue was down 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. On average, research analysts expect that Unit Co. will post 0.75 EPS for the current year.

In related news, Director G Bailey Iv Peyton acquired 3,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was bought at an average cost of $11.65 per share, with a total value of $34,950.00. Following the purchase, the director now directly owns 71,652 shares of the company’s stock, valued at $834,745.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Parks sold 30,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $14.65, for a total transaction of $439,500.00. Following the sale, the insider now directly owns 76,195 shares of the company’s stock, valued at $1,116,256.75. The disclosure for this sale can be found here. Insiders sold a total of 37,181 shares of company stock valued at $549,348 over the last quarter. 5.16% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in UNT. Marshall Wace LLP boosted its position in Unit by 2,494.2% in the 1st quarter. Marshall Wace LLP now owns 496,096 shares of the oil and gas company’s stock valued at $7,065,000 after buying an additional 476,973 shares during the last quarter. Geode Capital Management LLC boosted its position in Unit by 11.5% in the 1st quarter. Geode Capital Management LLC now owns 627,968 shares of the oil and gas company’s stock valued at $8,942,000 after buying an additional 64,653 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Unit by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 496,001 shares of the oil and gas company’s stock valued at $7,064,000 after buying an additional 11,449 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Unit in the 1st quarter valued at about $239,000. Finally, Golden State Wealth Management LLC purchased a new position in Unit in the 1st quarter valued at about $27,000. 89.11% of the stock is owned by institutional investors.

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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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