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Shares of Unit (NYSE:UNT) saw a large decline in short interest during the month of June. As of June 13th, there was short interest totalling 749,010 shares, a decline of 30.1% from the May 30th total of 1,071,969 shares, AR Network reports. Based on an average daily volume of 212,645 shares, the short-interest ratio is currently 3.5 days. Approximately 1.5% of the company’s stock are short sold.

UNT has been the subject of a number of recent research reports. Analysts at Iberia Capital initiated coverage on shares of Unit in a research note on Friday, June 27th. They set a “sector perform” rating and a $73.00 price target on the stock. Analysts at Zacks downgraded shares of Unit from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 13th. They now have a $70.60 price target on the stock. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $64.70.

Shares of Unit (NYSE:UNT) opened at 69.05 on Thursday. Unit has a one year low of $43.14 and a one year high of $70.36. The stock’s 50-day moving average is $66.25 and its 200-day moving average is $60.47. The company has a market cap of $3.423 billion and a price-to-earnings ratio of 16.65.

Unit (NYSE:UNT) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.15. On average, analysts predict that Unit will post $4.84 earnings per share for the current fiscal year.

Unit Corporation (NYSE:UNT) is a contract drilling company.

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