Unit Corporation (UNT) Receives Average Rating of “Hold” from Analysts
Shares of Unit Corporation (NYSE:UNT) have been given an average rating of “Hold” by the six research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $25.25.
Several equities research analysts have issued reports on UNT shares. Zacks Investment Research downgraded Unit Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. KLR Group upgraded Unit Corporation from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Wednesday, August 23rd. Scotiabank set a $26.00 price target on Unit Corporation and gave the stock a “hold” rating in a report on Thursday, August 3rd. BidaskClub downgraded Unit Corporation from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Finally, Cowen and Company set a $25.00 price objective on Unit Corporation and gave the stock a “hold” rating in a report on Tuesday, July 18th.
Shares of Unit Corporation (NYSE:UNT) traded up 2.15% during trading on Friday, reaching $18.53. The company had a trading volume of 865,211 shares. Unit Corporation has a 52-week low of $15.03 and a 52-week high of $30.63. The company has a 50 day moving average of $17.07 and a 200-day moving average of $19.55. The firm has a market capitalization of $979.98 million, a P/E ratio of 356.35 and a beta of 2.79.
Unit Corporation (NYSE:UNT) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. Unit Corporation had a return on equity of 2.07% and a net margin of 0.39%. The company had revenue of $170.58 million during the quarter, compared to the consensus estimate of $178.59 million. During the same period in the prior year, the company earned ($0.15) earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. Equities analysts expect that Unit Corporation will post $0.50 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. acquired a new stake in shares of Unit Corporation in the first quarter valued at approximately $106,000. Jane Street Group LLC acquired a new stake in shares of Unit Corporation in the first quarter valued at approximately $200,000. Laurion Capital Management LP acquired a new stake in shares of Unit Corporation in the first quarter valued at approximately $205,000. State of Alaska Department of Revenue lifted its position in shares of Unit Corporation by 82.9% in the second quarter. State of Alaska Department of Revenue now owns 10,428 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 4,728 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in shares of Unit Corporation by 9.0% in the second quarter. Wedge Capital Management L L P NC now owns 11,394 shares of the oil and gas company’s stock valued at $213,000 after buying an additional 940 shares during the last quarter. 92.57% of the stock is owned by institutional investors.
Unit Corporation Company Profile
Unit Corporation is an oil and natural gas contract drilling company. The Company has operations in the exploration and production and mid-stream areas. The Company operates through three segments: Oil and Natural Gas, Contract Drilling and Mid-Stream. It is primarily engaged in the exploration, development, acquisition, and production of oil and natural gas properties, the land contract drilling of natural gas and oil wells, and the buying, selling, gathering, processing and treating of natural gas.
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