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.

Unit (NYSE:UNT) last released its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.08). Unit had a negative net margin of 6.84% and a positive return on equity of 2.79%. The business had revenue of $189.70 million during the quarter, compared to the consensus estimate of $202.16 million. During the same period in the prior year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. On average, equities research analysts predict that Unit Co. will post 0.5 earnings per share for the current fiscal year.

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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