Notable Runner: Could Unit Corporation Change Direction After Today’s Significant Increase?

Notable Runner: Could Unit Corporation Change Direction After Today's Significant Increase?

The stock of Unit Corporation (NYSE:UNT) is a huge mover today! About 386,600 shares traded hands. Unit Corporation (NYSE:UNT) has risen 100.24% since April 4, 2016 and is uptrending. It has outperformed by 99.15% the S&P500.
The move comes after 5 months positive chart setup for the $848.17M company. It was reported on Nov, 4 by Barchart.com. We have $24.63 PT which if reached, will make NYSE:UNT worth $339.27M more.

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 earned “Accumulate” rating on Thursday, May 26 by KLR Group. On Monday, August 17 the stock rating was upgraded by Iberia Capital Partners to “Outperform”. The stock of Unit Corporation (NYSE:UNT) has “Buy” rating given on Friday, June 24 by Seaport Global. The company was upgraded on Friday, May 6 by Raymond James. The firm has “Buy” rating by SunTrust given on Thursday, December 17.

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 2016 Q2. 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.
Moreover, Highbridge Capital Mgmt Ltd Liability Corporation has 0% invested in Unit Corporation (NYSE:UNT) for 19,307 shares. Tiaa Cref Investment Mngmt Ltd Llc accumulated 259,110 shares or 0% of the stock. Renaissance Technology Ltd Liability holds 0.02% or 569,000 shares in its portfolio. Hbk Investments Limited Partnership has invested 0.03% of its portfolio in Unit Corporation (NYSE:UNT). The Utah-based Wasatch Advisors Inc has invested 0.16% in Unit Corporation (NYSE:UNT). Teacher Retirement Systems Of Texas has invested 0% of its portfolio in Unit Corporation (NYSE:UNT). Prescott Group Inc Cap Mngmt Limited holds 419,149 shares or 1.57% of its portfolio. Blackrock Fund reported 3.49 million shares or 0.01% of all its holdings. Springbok Cap Mgmt Ltd reported 100 shares or 0% of all its holdings. Moreover, Commercial Bank Of Montreal Can has 0% invested in Unit Corporation (NYSE:UNT) for 24,044 shares. Creative Planning owns 380 shares or 0% of their US portfolio. Panagora Asset last reported 0% of its portfolio in the stock. Penn Cap Mgmt Co holds 23,817 shares or 0.02% of its portfolio. Goldman Sachs has 216,471 shares for 0% of their US portfolio. The Florida-based Raymond James & Associates has invested 0.01% in Unit Corporation (NYSE:UNT).

Another recent and important Unit Corporation (NYSE:UNT) news was published by Businesswire.com which published an article titled: “Unit Corporation Reports 2016 Third Quarter Results” on November 03, 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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