Unit Co. (NYSE:UNT)’s share price traded up 7.7% on Wednesday following insider buying activity. The company traded as high as $3.02 and last traded at $2.92, 1,614,759 shares were traded during mid-day trading. An increase of 259% from the average session volume of 449,460 shares. The stock had previously closed at $2.71.
Specifically, EVP Frank Q. Young acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $2.74 per share, for a total transaction of $27,400.00. Following the purchase, the executive vice president now directly owns 103,848 shares in the company, valued at $284,543.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have purchased 21,000 shares of company stock valued at $86,400. 5.16% of the stock is owned by company insiders.
A number of research analysts recently commented on the company. ValuEngine downgraded Unit from a “sell” rating to a “strong sell” rating in a research note on Friday, April 26th. TheStreet downgraded Unit from a “c-” rating to a “d+” rating in a research note on Tuesday, May 21st. Raymond James set a $14.00 price objective on Unit and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Zacks Investment Research upgraded Unit from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Unit currently has a consensus rating of “Hold” and an average price target of $21.20.
The company has a market cap of $166.07 million, a P/E ratio of 2.97 and a beta of 2.54. The company has a 50 day moving average price of $6.77 and a 200-day moving average price of $11.59. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.48.
Unit (NYSE:UNT) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.24) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.29). Unit had a positive return on equity of 1.31% and a negative net margin of 8.99%. The business had revenue of $165.20 million during the quarter, compared to the consensus estimate of $185.61 million. During the same period in the previous year, the company posted $0.21 EPS. The company’s revenue for the quarter was down 18.7% compared to the same quarter last year. On average, research analysts expect that Unit Co. will post -0.04 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in UNT. Tower Research Capital LLC TRC grew its stake in shares of Unit by 4,726.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,406 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 5,294 shares in the last quarter. Quantamental Technologies LLC grew its stake in shares of Unit by 249.1% in the second quarter. Quantamental Technologies LLC now owns 5,606 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 4,000 shares in the last quarter. Magnus Financial Group LLC bought a new position in shares of Unit in the second quarter worth $99,000. Elkfork Partners LLC grew its stake in shares of Unit by 30.1% in the second quarter. Elkfork Partners LLC now owns 13,596 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 3,146 shares in the last quarter. Finally, Alambic Investment Management L.P. bought a new position in shares of Unit in the second quarter worth $129,000. 86.71% of the stock is owned by institutional investors.
Unit Company Profile (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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