The stock of Unit Corporation (NYSE:UNT) hit a new 52-week high and has $27.57 target or 26.00% above today’s $21.88 share price. The 8 months bullish chart indicates low risk for the $1.17 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $27.57 price target is reached, the company will be worth $304.20 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 498,717 shares traded hands. Unit Corporation (NYSE:UNT) has risen 85.37% since April 19, 2016 and is uptrending. It has outperformed by 81.51% the S&P500.
Unit Corporation (NYSE:UNT) Ratings Coverage
Out of 5 analysts covering Unit (NYSE:UNT), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Unit has been the topic of 9 analyst reports since August 17, 2015 according to StockzIntelligence Inc. KLR Group downgraded the shares of UNT in a report on Monday, November 21 to “Hold” rating. The firm has “Buy” rating given on Thursday, December 17 by SunTrust. As per Friday, May 6, the company rating was upgraded by Raymond James. The stock of Unit Corporation (NYSE:UNT) has “Outperform” rating given on Monday, August 17 by Iberia Capital Partners. The stock of Unit Corporation (NYSE:UNT) earned “Buy” rating by Seaport Global on Friday, June 24. The firm earned “Accumulate” rating on Thursday, May 26 by KLR Group.
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 1.44 in 2016 Q2. Its up 0.01, from 1.43 in 2016Q1. The ratio is positive, 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.
Dimensional Fund Advisors Limited Partnership accumulated 1.28M shares or 0.01% of the stock. Panagora Asset Mgmt holds 0% of its portfolio in Unit Corporation (NYSE:UNT) for 11,243 shares. Morgan Stanley last reported 0% of its portfolio in the stock. Citigroup owns 72,927 shares or 0% of their US portfolio. U S Glob Investors last reported 59,900 shares in the company. The Massachusetts-based Grantham Mayo Van Otterloo Co Limited Liability Company has invested 0.01% in Unit Corporation (NYSE:UNT). Ladenburg Thalmann accumulated 1,000 shares or 0% of the stock. Castleark Mgmt Limited Liability Company has 0.1% invested in the company for 195,730 shares. Wedge Capital Management L Ltd Partnership Nc last reported 1.08 million shares in the company. The Pennsylvania-based Vanguard Gru Inc has invested 0% in Unit Corporation (NYSE:UNT). Penn Capital Management Inc holds 23,817 shares or 0.02% of its portfolio. Caymus Ptnrs L P has 3.55% invested in the company for 1.53M shares. Manufacturers Life Insur The has invested 0% of its portfolio in Unit Corporation (NYSE:UNT). Great West Life Assurance Can last reported 3,455 shares in the company. Virginia Retirement Et Al holds 0.01% or 55,300 shares in its portfolio.
More news for Unit Corporation (NYSE:UNT) were recently published by: Businesswire.com, which released: “Unit Corporation Reports 2016 Third Quarter Results” on November 03, 2016. Seekingalpha.com‘s article titled: “Unit Corporation’s (UNT) CEO Larry Pinkston on Q3 2016 Results – Earnings Call …” and published on November 06, 2016 is yet another important article.
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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