Stock On Watch: Can Unit Corporation’s Tomorrow be Different? The Stock Just Broke Its High

Stock On Watch: Can Unit Corporation's Tomorrow be Different? The Stock Just Broke Its High

The stock of Unit Corporation (NYSE:UNT) hit a new 52-week high and has $28.57 target or 51.00% above today’s $18.92 share price. The 6 months bullish chart indicates low risk for the $1.02 billion company. The 1-year high was reported on Oct, 6 by Barchart.com. If the $28.57 price target is reached, the company will be worth $520.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock last traded at $18.92 per share. It is down 96.67% since March 3, 2016 and is uptrending. It has outperformed by 88.33% the S&P500.

Analysts await Unit Corporation (NYSE:UNT) to report earnings on November, 1. They expect $-0.13 earnings per share, down 533.33% or $0.16 from last year’s $0.03 per share. After $-0.15 actual earnings per share reported by Unit Corporation for the previous quarter, Wall Street now forecasts -13.33% EPS growth.

Unit Corporation (NYSE:UNT) Ratings Coverage

Out of 5 analysts covering Unit (NYSE:UNT), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $26 is the highest target while $20 is the lowest. The $21.67 average target is 14.53% above today’s ($18.92) stock price. Unit has been the topic of 8 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The stock of Unit Corporation (NYSE:UNT) earned “Buy” rating by SunTrust on Thursday, December 17. The firm earned “Strong Buy” rating on Friday, May 6 by Raymond James. KLR Group downgraded the shares of UNT in a report on Thursday, May 26 to “Accumulate” rating. The rating was reinitiated by Seaport Global with “Buy” on Friday, June 24. Iberia Capital Partners upgraded the stock to “Outperform” rating in Monday, August 17 report.

According to Zacks Investment Research, “UNIT CORP. is engaged in the land contract drilling of oil and natural gas wells, the development, acquisition and production of oil and natural gas properties, and the marketing of natural gas. Its principal areas of operations are located in the Anadarko and Arkoma Basins, which cover portions of Oklahoma, Texas, Kansas and Arkansas and has additional producing properties located in other states, including but not limited to, New Mexico, Louisiana, North Dakota, Colorado, Wyoming, Montana, Alabama and Mississippi.”

Insitutional Activity: The institutional sentiment increased to 1.43 in Q2 2016. Its up 0.02, from 1.41 in 2016Q1. The ratio is positive, as 24 funds sold all Unit Corporation shares owned while 39 reduced positions. 28 funds bought stakes while 62 increased positions. They now own 47.60 million shares or 3.46% less from 49.31 million shares in 2016Q1.
Victory Capital Mngmt Inc last reported 0.16% of its portfolio in the stock. Ladenburg Thalmann Financial Svcs last reported 0% of its portfolio in the stock. Guinness Atkinson Asset Mngmt Inc accumulated 0.62% or 63,397 shares. Lsv Asset Mngmt has invested 0% of its portfolio in Unit Corporation (NYSE:UNT). The Massachusetts-based Grantham Mayo Van Otterloo And Lc has invested 0.01% in Unit Corporation (NYSE:UNT). Blackrock Inv Mngmt Ltd Liability Co accumulated 0% or 230,905 shares. California State Teachers Retirement Systems has 0% invested in the company for 106,141 shares. Swiss Commercial Bank holds 0% or 84,900 shares in its portfolio. The Ohio-based Meeder Asset Mngmt has invested 0% in Unit Corporation (NYSE:UNT). Moreover, Prudential Fincl has 0% invested in Unit Corporation (NYSE:UNT) for 176,280 shares. Rhumbline Advisers reported 84,433 shares or 0% of all its holdings. Nomura Asset Management Co reported 6,700 shares or 0% of all its holdings. Ls Inv Ltd Liability Co last reported 1,780 shares in the company. Teachers Advsrs Incorporated has invested 0% of its portfolio in Unit Corporation (NYSE:UNT). Panagora Asset Mgmt Inc reported 11,243 shares or 0% of all its holdings.

Another recent and important Unit Corporation (NYSE:UNT) news was published by Seekingalpha.com which published an article titled: “Unit Corporation’s B3/B+ Rated Bonds Offer 11.35% Yields, Maturing May 2021” on September 29, 2016.

UNT Company Profile

Unit Corporation, incorporated on July 28, 1986, is an oil and natural gas contract drilling company. The Firm has activities in the exploration and production and mid-stream areas. The Firm operates through three divisions: Oil and Natural Gas, Contract Drilling and Mid-Stream. The Firm is primarily engaged in the exploration, development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing and treating of natural gas. The Company’s Oil and Natural Gas activities are carried out by its subsidiary Unit Petroleum Company. Contract Drilling activities are carried out by subsidiary Unit Drilling Company. The Company’s Mid-Stream activities are carried out by subsidiary Superior Pipeline Company, L.L.C.

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