Unit Corporation (UNT) is Downgraded by KLR Group to Accumulate

Unit Corporation (UNT) was Downgraded by KLR Group to ” Accumulate”. Earlier the firm had a rating of “Buy ” on the company shares. KLR Group advised their investors in a research report released on May 26, 2016.

Many Wall Street Analysts have commented on Unit Corporation. Unit Corporation was Upgraded by Raymond James to ” Strong Buy” on May 6, 2016.

On the company’s financial health, Unit Corporation reported $-0.41 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on May 5, 2016. Analyst had a consensus of $-0.38. The company had revenue of $136.18 million for the quarter, compared to analysts expectations of $157.08 million. The company’s revenue was down -46.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.08 EPS.

Unit Corporation opened for trading at $12.97 and hit $14.1 on the upside on Wednesday, eventually ending the session at $14.06, with a gain of 10.10% or 1.29 points. The heightened volatility saw the trading volume jump to 15,60,063 shares. Company has a market cap of $723 M.

In a different news, on Mar 2, 2016, John G Nikkel (director) purchased 2,000 shares at $5.72 per share price. According to the SEC, on Sep 21, 2015, Steven B Hildebrand (director) purchased 2,000 shares at $11.39 per share price. On Sep 14, 2015, Larry C Payne (director) purchased 2,000 shares at $11.31 per share price, according to the Form-4 filing with the securities and exchange commission.

Unit Corporation (Unit) is an oil and natural gas contract drilling company. In addition to its drilling operations 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’s Oil and Natural Gas operations are carried out by its subsidiary Unit Petroleum Company which explores develops acquires and produces oil and natural gas properties. Contract Drilling operations are carried out by subsidiary Unit Drilling Company and its subsidiaries. Contract Drilling segment contracts to drill onshore oil and natural gas wells for others. The Company’s Mid-Stream are operations carried out by subsidiary Superior Pipeline Company L.L.C. which buys sells gathers processes and treats natural gas for third parties and for the Company.

Unit Corporation

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