Short Interest in Unit Co. (NYSE:UNT) Expands By 14.8%

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Unit Co. (NYSE:UNT) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 3,774,900 shares, an increase of 14.8% from the May 30th total of 3,289,000 shares. Based on an average daily trading volume, of 419,000 shares, the days-to-cover ratio is presently 9.0 days. Currently, 7.2% of the shares of the company are short sold.

Several research firms have commented on UNT. Zacks Investment Research raised shares of Vistra Energy from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Saturday. ValuEngine cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. TheStreet cut shares of Unit from a “c-” rating to a “d+” rating in a research report on Tuesday, May 21st. Finally, Raymond James set a $60.00 target price on shares of Banner and gave the stock a “buy” rating in a research report on Friday, May 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $24.29.

In other news, Director G Bailey Iv Peyton bought 3,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were purchased at an average price of $11.65 per share, with a total value of $34,950.00. Following the transaction, the director now directly owns 71,652 shares in the company, valued at $834,745.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark E. Schell sold 5,500 shares of Unit stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $15.51, for a total transaction of $85,305.00. Following the transaction, the insider now directly owns 221,452 shares in the company, valued at approximately $3,434,720.52. The disclosure for this sale can be found here. In the last three months, insiders have acquired 15,000 shares of company stock worth $170,670. Insiders own 5.16% of the company’s stock.

Several large investors have recently bought and sold shares of UNT. Norges Bank bought a new stake in shares of Unit in the 4th quarter worth approximately $17,695,000. Marshall Wace LLP raised its holdings in shares of Unit by 2,494.2% in the 1st quarter. Marshall Wace LLP now owns 496,096 shares of the oil and gas company’s stock worth $7,065,000 after purchasing an additional 476,973 shares during the period. BlackRock Inc. grew its stake in Unit by 2.5% in the 4th quarter. BlackRock Inc. now owns 7,954,804 shares of the oil and gas company’s stock valued at $113,595,000 after buying an additional 194,384 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in Unit by 23.1% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 761,881 shares of the oil and gas company’s stock valued at $10,849,000 after buying an additional 143,200 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in Unit in the 1st quarter valued at approximately $1,692,000. 86.83% of the stock is currently owned by institutional investors.

Shares of NYSE:UNT traded up $0.03 during mid-day trading on Monday, reaching $8.06. The company had a trading volume of 4,177 shares, compared to its average volume of 498,169. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $445.41 million, a price-to-earnings ratio of 7.80 and a beta of 2.57. The company has a 50-day simple moving average of $8.82. Unit has a one year low of $7.68 and a one year high of $29.06.

Unit (NYSE:UNT) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.08). The company had revenue of $189.70 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.21 EPS. On average, equities analysts expect that Unit will post 0.63 EPS for the current fiscal year.

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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