Unit Co. (NYSE:UNT) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 8,650,000 shares, a decrease of 18.5% from the December 15th total of 10,610,000 shares. Approximately 16.2% of the shares of the company are sold short. Based on an average daily volume of 1,560,000 shares, the short-interest ratio is currently 5.5 days.

Unit stock traded up $0.03 during midday trading on Tuesday, hitting $0.48. The stock had a trading volume of 2,546,261 shares, compared to its average volume of 3,771,812. The firm’s fifty day moving average is $0.74 and its two-hundred day moving average is $3.22. The company has a market capitalization of $28.32 million, a PE ratio of 0.48 and a beta of 2.44. Unit has a 52-week low of $0.44 and a 52-week high of $18.24. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.57.

Unit (NYSE:UNT) last released its earnings results on Friday, November 8th. The oil and gas company reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.06). The firm had revenue of $155.44 million during the quarter, compared to analysts’ expectations of $160.87 million. Unit had a negative return on equity of 0.67% and a negative net margin of 40.93%. The company’s revenue was down 29.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.30 earnings per share. As a group, equities research analysts predict that Unit will post -0.67 earnings per share for the current fiscal year.

UNT has been the topic of several recent research reports. Raymond James cut shares of Unit from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. ValuEngine raised shares of Unit from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, Zacks Investment Research lowered shares of Unit from a “hold” rating to a “strong sell” rating in a report on Saturday.

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Unit in the 3rd quarter worth approximately $81,000. Chicago Equity Partners LLC grew its holdings in Unit by 47.1% during the 3rd quarter. Chicago Equity Partners LLC now owns 252,081 shares of the oil and gas company’s stock valued at $852,000 after buying an additional 80,690 shares in the last quarter. Bank of America Corp DE grew its holdings in Unit by 67.3% during the 2nd quarter. Bank of America Corp DE now owns 84,640 shares of the oil and gas company’s stock valued at $753,000 after buying an additional 34,058 shares in the last quarter. Morgan Stanley grew its holdings in Unit by 135.9% during the 2nd quarter. Morgan Stanley now owns 452,362 shares of the oil and gas company’s stock valued at $4,023,000 after buying an additional 260,576 shares in the last quarter. Finally, Corient Capital Partners LLC purchased a new stake in Unit during the 3rd quarter valued at approximately $36,000. 84.60% of the stock is owned by institutional investors.

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.

Read More: Limitations of the P/E Growth ratio

Receive News & Ratings for Unit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unit and related companies with MarketBeat.com's FREE daily email newsletter.