Unit (NYSE:UNT) Trading Down 10.7%
Unit Co. (NYSE:UNT) dropped 10.7% during mid-day trading on Thursday . The company traded as low as $6.61 and last traded at $6.66, approximately 569,305 shares were traded during trading. An increase of 55% from the average daily volume of 368,185 shares. The stock had previously closed at $7.46.
UNT has been the subject of a number of analyst reports. ValuEngine cut W&T Offshore from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Raymond James set a $60.00 price objective on Banner and gave the company a “buy” rating in a report on Friday, May 3rd. TheStreet cut Unit from a “c-” rating to a “d+” rating in a report on Tuesday, May 21st. Finally, Zacks Investment Research raised Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Saturday, July 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Unit has an average rating of “Hold” and a consensus price target of $23.33.
The company’s fifty day moving average price is $8.25. 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 capitalization of $369.42 million, a price-to-earnings ratio of 6.32 and a beta of 2.57.
In other Unit news, Director G Bailey Iv Peyton purchased 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was acquired at an average cost of $11.65 per share, with a total value of $34,950.00. Following the completion of the acquisition, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director King P. Kirchner purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was acquired at an average cost of $11.59 per share, with a total value of $115,900.00. Following the completion of the acquisition, the director now directly owns 158,820 shares of the company’s stock, valued at $1,840,723.80. The disclosure for this purchase can be found here. Insiders purchased 18,000 shares of company stock valued at $192,570 over the last ninety days. 5.16% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Bridge City Capital LLC bought a new position in shares of Unit in the second quarter valued at about $685,000. Strs Ohio increased its position in Unit by 7.6% in the second quarter. Strs Ohio now owns 41,000 shares of the oil and gas company’s stock worth $364,000 after purchasing an additional 2,900 shares during the period. Arizona State Retirement System increased its position in Unit by 2.6% in the second quarter. Arizona State Retirement System now owns 86,043 shares of the oil and gas company’s stock worth $765,000 after purchasing an additional 2,176 shares during the period. First Trust Advisors LP increased its position in Unit by 45.0% in the first quarter. First Trust Advisors LP now owns 242,550 shares of the oil and gas company’s stock worth $3,454,000 after purchasing an additional 75,318 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in Unit in the first quarter worth about $1,692,000. 86.77% 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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