Today’s Stock Alert: A Reversal for Unit Corporation Is Not Near. The Stock Declines Again

Today's Stock Alert: A Reversal for Unit Corporation Is Not Near. The Stock Declines Again

The stock of Unit Corporation (NYSE:UNT) is a huge mover today! About 492,427 shares traded hands. Unit Corporation (NYSE:UNT) has risen 100.78% since March 9, 2016 and is uptrending. It has outperformed by 93.36% the S&P500.
The move comes after 6 months negative chart setup for the $886.80 million company. It was reported on Oct, 12 by Barchart.com. We have $16.52 PT which if reached, will make NYSE:UNT worth $53.21M less.

Analysts await Unit Corporation (NYSE:UNT) to report earnings on November, 1. They expect $-0.13 EPS, down 533.33% or $0.16 from last year’s $0.03 per share. After $-0.15 actual EPS 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. Unit has been the topic of 8 analyst reports since August 17, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by SunTrust given on Thursday, December 17. The stock of Unit Corporation (NYSE:UNT) has “Strong Buy” rating given on Friday, May 6 by Raymond James. The stock of Unit Corporation (NYSE:UNT) earned “Buy” rating by Seaport Global on Friday, June 24. On Monday, August 17 the stock rating was upgraded by Iberia Capital Partners to “Outperform”. KLR Group downgraded the shares of UNT in a report on Thursday, May 26 to “Accumulate” rating.

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 increased, 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.
Piermont Mngmt has 86,861 shares for 0.35% of their US portfolio. Ellington Management Gp Ltd Limited Liability Company has 0.31% invested in the company for 14,400 shares. State Street holds 0% or 1.54 million shares in its portfolio. Sprott holds 0.25% of its portfolio in Unit Corporation (NYSE:UNT) for 317,500 shares. Guinness Asset Mngmt Limited has 349,823 shares for 1.49% of their US portfolio. New York State Common Retirement Fund has 49,000 shares for 0% of their US portfolio. Pacad Investment Ltd, a British Columbia – Canada-based fund reported 2,800 shares. Capstone Asset Mgmt Communications accumulated 14,743 shares or 0.01% of the stock. Manufacturers Life Insurance The owns 34,578 shares or 0% of their US portfolio. Tygh Cap Mngmt has invested 0.31% of its portfolio in Unit Corporation (NYSE:UNT). Schneider Capital Mgmt last reported 239,208 shares in the company. Invesco holds 388,043 shares or 0% of its portfolio. Nomura Asset Ltd has 6,700 shares for 0% of their US portfolio. Victory Capital Management holds 0.16% or 2.58 million shares in its portfolio. Moreover, California Public Employees Retirement Sys has 0.01% invested in Unit Corporation (NYSE:UNT) for 481,258 shares.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Leave a Comment