NEW YORK ( TheStreet) -- Unit Corporation (NYSE: UNT) hit a new 52-week high Monday as it traded at $60.40 compared with its previous 52-Week high of $59.54. Unit is changing hands at $60.23 with 11,778 shares traded as of 9:32 a.m. ET. Average volume has been 320,600 shares over the past 30 days.

Unit has a market cap of $2.7 billion and is part of the basic materials sector and energy industry. Shares are up 28.1% year to date as of the close of trading on Friday.

Unit Corporation operates as a contract drilling company. The company operates in three segments: Contract Drilling, Oil and Natural Gas, and Mid-Stream. The Contract Drilling segment engages in the land contract drilling of natural gas and oil wells. The company has a P/E ratio of 18.5, below the average energy industry P/E ratio of 20.5 and below the S&P 500 P/E ratio of 22.6.

TheStreet Ratings rates Unit as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Unit Ratings Report.

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