Unit Co. (NYSE:UNT) Director J Michael Adcock bought 2,000 shares of Unit stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average price of $9.91 per share, with a total value of $19,820.00. Following the completion of the transaction, the director now directly owns 43,102 shares of the company’s stock, valued at $427,140.82. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

UNT stock traded down $0.52 during mid-day trading on Wednesday, hitting $7.71. 350,103 shares of the company were exchanged, compared to its average volume of 333,049. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market cap of $470.94 million, a PE ratio of 7.72 and a beta of 2.78. Unit Co. has a 12-month low of $7.68 and a 12-month high of $29.06.

Unit (NYSE:UNT) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported $0.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.08). The company had revenue of $189.70 million for the quarter, compared to analysts’ expectations of $202.16 million. Unit had a positive return on equity of 2.79% and a negative net margin of 6.84%. The company’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. Sell-side analysts anticipate that Unit Co. will post 0.67 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in UNT. Norges Bank purchased a new position in shares of Unit in the fourth quarter valued at approximately $17,695,000. Marshall Wace LLP boosted its stake in shares of Unit by 2,494.2% in the first quarter. Marshall Wace LLP now owns 496,096 shares of the oil and gas company’s stock valued at $7,065,000 after purchasing an additional 476,973 shares during the period. Prudential Financial Inc. boosted its stake in shares of Unit by 78.8% in the fourth quarter. Prudential Financial Inc. now owns 718,080 shares of the oil and gas company’s stock valued at $10,254,000 after purchasing an additional 316,370 shares during the period. BlackRock Inc. boosted its stake in shares of Unit by 2.5% in the fourth quarter. BlackRock Inc. now owns 7,954,804 shares of the oil and gas company’s stock valued at $113,595,000 after purchasing an additional 194,384 shares during the period. Finally, Chicago Equity Partners LLC boosted its stake in shares of Unit by 492.8% in the fourth quarter. Chicago Equity Partners LLC now owns 202,281 shares of the oil and gas company’s stock valued at $2,889,000 after purchasing an additional 168,160 shares during the period. 87.02% of the stock is owned by institutional investors.

UNT has been the subject of several recent analyst reports. ValuEngine upgraded shares of Unit from a “strong sell” rating to a “sell” rating in a research report on Friday, February 15th. Zacks Investment Research upgraded shares of Unit from a “sell” rating to a “hold” rating in a research report on Thursday, February 28th. Finally, Raymond James set a $22.00 price objective on shares of Unit and gave the stock a “buy” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $24.29.

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Unit Company Profile

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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