Unit Corporation (UNT) : Traders are bullish on Unit Corporation (UNT) as it has outperformed the S&P 500 by a wide margin of 26.03% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 17.09%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 17.05% in the last 1 week, and is up 26.51% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Unit Corporation is up 32.09% in the last 3-month period. Year-to-Date the stock performance stands at 42.38%. The stock has recorded a 20-day Moving Average of 27.46% and the 50-Day Moving Average is 17.81%.
Unit Corporation (NYSE:UNT): The stock opened at $17.32 on Friday but the bulls could not build on the opening and the stock topped out at $17.44 for the day. The stock traded down to $16.86 during the day, due to lack of any buying support eventually closed down at $17.37 with a loss of -0.57% for the day. The stock had closed at $17.47 on the previous day. The total traded volume was 612,373 shares.
Also, In a research note released to the investors, KLR Group downgrades its rating on Unit Corporation (NYSE:UNT).The analysts at the brokerage house have a current rating of Accumulate on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on May 26, 2016.
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 Companys 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 Companys 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.