Unit Corporation (UNT) Could Burn Your Portfolio. The Stock Formed Bearish Head & Shoulders Pattern

June 15, 2018 - By Linda Rogers

Investors sentiment increased to 1.22 in 2018 Q1. Its up 0.38, from 0.84 in 2017Q4. It increased, as 25 investors sold Unit Corporation shares while 47 reduced holdings. 33 funds opened positions while 55 raised stakes. 48.81 million shares or 1.62% more from 48.03 million shares in 2017Q4 were reported.
Citigroup invested 0% in Unit Corporation (NYSE:UNT). Regions Corp has 0% invested in Unit Corporation (NYSE:UNT). Public Employees Retirement System Of Ohio holds 0% or 5,112 shares in its portfolio. Dupont Capital Corporation owns 27,564 shares for 0.01% of their portfolio. State Of Tennessee Treasury Department invested 0% in Unit Corporation (NYSE:UNT). Geode Ltd Limited Liability Company holds 450,696 shares. Jefferies Grp Inc Ltd Llc holds 0% in Unit Corporation (NYSE:UNT) or 11,282 shares. The New York-based Bnp Paribas Arbitrage Sa has invested 0% in Unit Corporation (NYSE:UNT). Tygh Cap Mngmt Inc reported 0.46% stake. Atlantic Group Ltd Llc holds 0% or 4,540 shares. Swiss Bank holds 92,000 shares. First Tru Advsr L P has invested 0.01% in Unit Corporation (NYSE:UNT). Avalon Advisors Limited Liability stated it has 0.09% in Unit Corporation (NYSE:UNT). Parametric Associates Limited Liability Corp holds 0% in Unit Corporation (NYSE:UNT) or 120,575 shares. 1.06M are owned by Vaughan Nelson Mngmt L P.

The stock of Unit Corporation (UNT) formed H&S with $22.16 target or 3.00 % below today’s $22.85 share price. The 7 months Head & Shoulders indicates high risk for the $1.24B company. It was reported on Jun, 15 by Faxor.com. If the $22.16 price target is reached, the company will be worth $37.05 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock increased 1.33% or $0.3 during the last trading session, reaching $22.85. About 426,733 shares traded. Unit Corporation (NYSE:UNT) has risen 11.21% since June 15, 2017 and is uptrending. It has underperformed by 1.36% the S&P500.

Analysts await Unit Corporation (NYSE:UNT) to report earnings on August, 2. They expect $0.14 EPS, up 100.00 % or $0.07 from last year’s $0.07 per share. UNT’s profit will be $7.57 million for 40.80 P/E if the $0.14 EPS becomes a reality. After $0.21 actual EPS reported by Unit Corporation for the previous quarter, Wall Street now forecasts -33.33 % negative EPS growth.

Unit Corporation (NYSE:UNT) Ratings Coverage

Among 3 analysts covering Unit Corp (NYSE:UNT), 0 have Buy rating, 0 Sell and 3 Hold. Therefore 0 are positive. Unit Corp had 4 analyst reports since January 18, 2018 according to SRatingsIntel. As per Tuesday, March 27, the company rating was downgraded by SunTrust. Cowen & Co maintained Unit Corporation (NYSE:UNT) on Thursday, January 18 with “Hold” rating. SunTrust maintained it with “Buy” rating and $27.0 target in Friday, February 23 report.

Another recent and important Unit Corporation (NYSE:UNT) news was published by Businesswire.com which published an article titled: “Unit Corporation to Present at the Bank of America Merrill Lynch 2018 Energy Credit Conference” on May 30, 2018.

Unit Corporation, together with its subsidiaries, operates as an oil and natural gas contract drilling firm primarily in the United States. The company has market cap of $1.24 billion. The firm operates through three divisions: Oil and Natural Gas, Contract Drilling, and Mid-Stream. It has a 10.02 P/E ratio. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties primarily located in Oklahoma and Texas, as well as in Arkansas, Colorado, Kansas, Louisiana, Mississippi, Montana, New Mexico, North Dakota, Utah, and Wyoming.

Unit Corporation (NYSE:UNT) Institutional Positions Chart

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