It is currently trading at $18.67 which is just over $17.09, the 50 day moving average and which is just a bit below the 200 day moving average of $19.34. The 50 day moving average went up by +9.24% and the 200 day average was down $-0.67. Unit Corporation shares had a trading volume of 442K on Wednesday. Shares saw a steep decrease in trading volume of 69.55% under the normal average daily volume.
Traders are feeling more bullish on the company if you consider the change in short interest. The stock saw a fall in short interest of -6.77% as of August 31, 2017 from the last reporting period. Short interest fell from 4,545,437 to 4,237,752 over that timeframe. The short-interest ratio increased to 9.0 and the short interest percentage is 0.08% as of August 31.
Here are a few substantial investment firms who have updated their positions. Vident Investment Advisory, LLC augmented its investment by buying 1,524 shares an increase of 1.7% in the quarter. Vident Investment Advisory, LLC controls 88,832 shares with a value of $1,664,000. The value of the position overall is down by 21.1%. As of the end of the quarter Quadrature Capital Ltd had acquired 8,392 shares growing its holdings by 69.9%. The value of the investment in Unit Corporation went from $290,000 to $382,000 increasing 31.7% quarter to quarter.
Pacad Investment Ltd. bolstered its ownership by buying 10,943 shares an increase of 188.1% as of 06/30/2017. Pacad Investment Ltd. claims 16,760 shares valued at $314,000. The total value of its holdings increased 190.7%. As of quarter end Hutchin Hill Capital, Lp had bought a total of 75,600 shares growing its position 114.4%. The value in dollars increased from $1,597,000 to $2,654,000 a change of $1,057,000 since the last quarter.
On August 23, 2017 the stock rating was set at “Buy” in a report from KLR Group which was a boost from the previous “Hold” rating. On July 25 the company was downgraded to “Hold” from “Reduce” in an announcement from KLR Group.
The company’s P/E ratio is 359.04 and market capitalization is 987.38M. As of the latest earnings report the EPS was $0.05 and is projected to be $0.50 for the current year with 52,886,000 shares outstanding. Next quarter’s EPS is forecasted at $0.18 with next year’s EPS anticipated to be $1.20.
Unit Corporation, launched on July 28, 1986, is an oil and natural gas contract drilling company. The Company has operations in the exploration and production and mid-stream areas. The Company operates through three segments: Oil and Natural Gas, Contract Drilling and Mid-Stream. The Company 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 Business’s Oil and Natural Gas operations are carried out by its subsidiary Unit Petroleum Company. Contract Drilling operations are carried out by its subsidiary Unit Drilling Company. The Business’s Mid-Stream operations are carried out by its subsidiary Superior Pipeline Company, L.L.C. (Superior)..