Unit Corporation (UNT): More Irrationality?

The stock of Unit Corporation (NYSE:UNT) has been Downgraded to Equal Weight from Overweight by CapitalOne in its latest research note that was published on December 20. Raymond James analysts have downgraded their rating of UNT stock from Strong Buy to Mkt Perform in a separate flash note to investors on December 13.

Unit Corporation, which has current market capitalization of above $191 Million, published its last quarter earnings on June 30, 2019.

UNT surged by $0.06 during the normal trading session on Thursday and reaching a high of $3.42 during the day while it closed the day at $3.33. The Unit stock had a low trading volume of 1.12 million shares on that day, which is low compared to the average daily volume of 845.85M shares. UNT has also gained 11.37% of its value over the past 7 days. However, the stock has declined by 59.64% in the 3 months of the year. Over the past six months meanwhile, it has lost 77.56% while it has lost 76.68% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -65.2% from its 3 months high price. However, taking another look at UNT will indicate that it is trading +32.67% away from its 90-day low. Looking at the bigger picture, the Unit Corporation stock has dropped by -88.54% from its 52-week high while it has surged by +32.67% from its 52-week low price.

On August 13, 2019 Peyton G Bailey IV, Director bought 6000 shares of the company. The average price for that transaction was $2.88 per share, which meant that Peyton G Bailey IV spent $17280 purchasing the stocks. The purchase was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with Executive Vice President, UPC, Young Frank Q purchasing 10000 shares of this stock on August 13, 2019. The average purchasing price for the stock was $2.74 per share, with the purchased stock accruing $27400. Following this transaction, the Executive Vice President, UPC Young Frank Q now holds 74652 shares of the company, which is worth around $250830.7.

Unit has around 669 Million cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $195 Billion. The Unit stock is bringing in revenue of over 12 months, which is roughly 67 Billion. Despite all that, Unit Corporation is seeing things declining very much as their y-o-y quarterly revenue dropped by -32.41%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 13.23%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 63.08%. Over the past 20 days, Unit’s Stochastic %K stood at 63.85% while its Stochastic %D was revealed to be 54.71%.