Shares of Unit Co. (NYSE:UNT) have been given a consensus recommendation of “Hold” by the ten brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $25.50.
Several brokerages have commented on UNT. ValuEngine raised Unit from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 20th. Zacks Investment Research raised Unit from a “sell” rating to a “hold” rating in a report on Friday, April 12th. Raymond James set a $22.00 price objective on Unit and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, TheStreet lowered Unit from a “c-” rating to a “d+” rating in a research note on Tuesday, May 21st.
Shares of UNT opened at $8.89 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.66 and a current ratio of 0.66. Unit has a 12 month low of $7.68 and a 12 month high of $29.06. The firm has a 50 day simple moving average of $9.62. The firm has a market capitalization of $501.98 million, a price-to-earnings ratio of 8.89 and a beta of 2.78.
In other news, Director G Bailey Iv Peyton purchased 3,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average cost of $11.65 per share, with a total value of $34,950.00. Following the completion of the purchase, the director now directly owns 71,652 shares of the company’s stock, valued at approximately $834,745.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert Parks sold 30,000 shares of Unit stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $14.65, for a total value of $439,500.00. Following the completion of the sale, the insider now directly owns 76,195 shares in the company, valued at $1,116,256.75. The disclosure for this sale can be found here. Insiders bought 15,000 shares of company stock worth $170,670 over the last ninety days. Corporate insiders own 5.16% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CoreCommodity Management LLC acquired a new position in Unit during the fourth quarter worth $134,000. Everence Capital Management Inc. acquired a new position in Unit during the first quarter worth $151,000. Rafferty Asset Management LLC acquired a new position in Unit during the fourth quarter worth $154,000. Nisa Investment Advisors LLC boosted its stake in Unit by 123.1% during the first quarter. Nisa Investment Advisors LLC now owns 10,875 shares of the oil and gas company’s stock worth $155,000 after buying an additional 6,000 shares during the last quarter. Finally, United Services Automobile Association boosted its stake 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 last quarter. 86.83% of the stock is currently owned by institutional investors.
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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