Could Unit Corporation (UNT) Go Down? The Stock Formed Bearish Head & Shoulders Pattern

March 16, 2018 - By Rodney Autry

Investors sentiment increased to 1.15 in 2017 Q3. Its up 0.11, from 1.04 in 2017Q2. It improved, as 11 investors sold Unit Corporation shares while 51 reduced holdings. 21 funds opened positions while 50 raised stakes. 49.30 million shares or 2.78% more from 47.97 million shares in 2017Q2 were reported.
Prudential, New Jersey-based fund reported 425,210 shares. Schwab Charles Inv Inc holds 0.01% or 605,847 shares. Wedge Capital Management L Limited Partnership Nc has 14,984 shares. Ameriprise Financial Inc has 0% invested in Unit Corporation (NYSE:UNT). 13,395 were reported by Mason Street Advisors Limited Liability. Millennium Management Ltd Liability Company holds 0% or 30,223 shares in its portfolio. Pacad Invest has invested 0.06% of its portfolio in Unit Corporation (NYSE:UNT). Ameritas Investment Inc has invested 0% in Unit Corporation (NYSE:UNT). Mariner Wealth owns 14,674 shares for 0.01% of their portfolio. Guinness Asset Mgmt reported 1.12% of its portfolio in Unit Corporation (NYSE:UNT). Raymond James Serv owns 47,195 shares for 0.01% of their portfolio. State Common Retirement Fund holds 0% of its portfolio in Unit Corporation (NYSE:UNT) for 55,500 shares. Moreover, Ls Inv Lc has 0% invested in Unit Corporation (NYSE:UNT). The Minnesota-based Thrivent Fincl For Lutherans has invested 0% in Unit Corporation (NYSE:UNT). Keybank Natl Association Oh reported 59,600 shares or 0.01% of all its holdings.

The stock of Unit Corporation (UNT) formed H&S with $17.34 target or 8.00 % below today’s $18.85 share price. The 6 months Head & Shoulders indicates high risk for the $1000.00 million company. It was reported on Mar, 16 by If the $17.34 price target is reached, the company will be worth $80.00M 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 decreased 4.41% or $0.87 during the last trading session, reaching $18.85. About 360,674 shares traded. Unit Corporation (NYSE:UNT) has risen 62.42% since March 16, 2017 and is uptrending. It has outperformed by 45.72% the S&P500.

Analysts await Unit Corporation (NYSE:UNT) to report earnings on May, 3. They expect $0.32 earnings per share, up 113.33 % or $0.17 from last year’s $0.15 per share. UNT’s profit will be $16.98 million for 14.73 P/E if the $0.32 EPS becomes a reality. After $0.22 actual earnings per share reported by Unit Corporation for the previous quarter, Wall Street now forecasts 45.45 % EPS growth.

Unit Corporation (NYSE:UNT) Ratings Coverage

Among 7 analysts covering Unit (NYSE:UNT), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. Unit had 21 analyst reports since August 17, 2015 according to SRatingsIntel. The stock of Unit Corporation (NYSE:UNT) has “Hold” rating given on Tuesday, July 25 by KLR Group. As per Tuesday, October 17, the company rating was downgraded by KLR Group. The company was upgraded on Wednesday, August 23 by KLR Group. As per Thursday, November 2, the company rating was maintained by SunTrust. SunTrust initiated the shares of UNT in report on Thursday, December 17 with “Buy” rating. The firm has “Outperform” rating given on Monday, August 17 by Iberia Capital Partners. The company was maintained on Friday, February 23 by SunTrust. The stock has “Hold” rating by Cowen & Co on Friday, September 15. The firm has “Strong Buy” rating by Raymond James given on Friday, May 6. The firm earned “Hold” rating on Thursday, January 18 by Cowen & Co.

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