An interesting stock that came up in some of our conversations today is Unit Corporation (NYSE:UNT). At current price of $3.3, the shares have already lost -0.06 points (-1.93% lower) from its previous close of $3.36. Should you buy or avoid them? The stock sets an active trading volume day with a reported 24846 contracts so far this session. UNT shares had a relatively better volume day versus average trading capacity of 845.85 thousand shares, but with a 53.44 million float and a 21.3% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for UNT stock indicates that the average analyst price target is $9 per share. This means the stock has a potential increase of 172.73% from where the UNT share price has been trading recently which is between $3.235 and $3.63. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $5.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of UNT earnings conference call or presentation 6-Aug-19 3:00pm GMT” and dated August 13, 2019.
During the recent trading session for Unit Corporation (NYSE:UNT), the company witnessed their stock rise $0.37 over a week and surge $0.44 from the price 20 days ago. When compared to their established 52-week high of $29.06, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/21/18. The recent low of $2.51 stood for a -88.66% since 08/27/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.71 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Unit Corporation, the two-week RSI stands at 42.02. This figure suggests that UNT stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current UNT readings is similarly very revealing as it has a stochastic reading of 73.68% at this stage. This figure means that UNT share price today is being oversold.
Technical chart claims that Unit Corporation (UNT) would settle between $3.58/share to $3.8/share level. However, if the stock price goes below the $3.19 mark, then the market for Unit Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $3.01 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.28. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at CapitalOne lowered their recommendation on shares of UNT from Overweight to Equal Weight in their opinion released on December 20. Raymond James analysts have lowered their rating of Unit Corporation (NYSE:UNT) stock from Strong Buy to Mkt Perform in a separate flash note issued to investors on December 13. Analysts at Stephens, made their first call for the equity with a Equal-Weight recommendation, according to a research note that dated back to December 06.
UNT equity has an average rating of 2.83, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 5 rated the stock as a hold while the remaining 1 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 1 analysts rated Unit Corporation (NYSE:UNT) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, UNT stock price is currently trading at 3.14X forward 12-month Consensus EPS estimates, and its P/E ratio is 8 while for the average stock in the same group, the multiple is 14.9. Unit Corporation current P/B ratio of 0.12 means it is trading at a discount against its industry’s 0.71.
Unit Corporation (UNT)’s current-quarter revenues are projected to climb by nearly -23.76% to hit $167780, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -16.62% from $843280 to a noteworthy $703100. At the other end of the current quarter income statement, Unit Corporation is expected to see its adjusted earnings surge by roughly -96.67% to hit $0.01 per share. For the fiscal year, UNT’s earnings are projected to climb by roughly -104% to hit $-0.04 per share.