Unit (UNT) Downgraded to “Sell” at ValuEngine
ValuEngine cut shares of Unit (NYSE:UNT) from a hold rating to a sell rating in a report published on Thursday morning.
Other equities analysts have also issued reports about the stock. SunTrust Banks reaffirmed a buy rating and issued a $25.00 price objective on shares of Unit in a research report on Friday, November 3rd. KLR Group raised shares of Unit from a hold rating to a buy rating and set a $20.00 price objective for the company in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Unit from a sell rating to a hold rating in a research report on Friday, August 4th. Scotiabank set a $26.00 price objective on shares of Unit and gave the company a hold rating in a research report on Thursday, August 3rd. Finally, Cowen reaffirmed a hold rating and issued a $25.00 price objective on shares of Unit in a research report on Sunday, September 17th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $24.60.
Shares of Unit (NYSE UNT) traded up $0.85 during trading on Thursday, hitting $22.24. 383,570 shares of the company traded hands, compared to its average volume of 591,089. The stock has a market cap of $1,080.33, a price-to-earnings ratio of 37.15 and a beta of 2.85. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.64. Unit has a 52-week low of $15.29 and a 52-week high of $30.63.
Unit (NYSE:UNT) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The company had revenue of $188.49 million during the quarter, compared to analysts’ expectations of $189.44 million. Unit had a net margin of 4.28% and a return on equity of 2.33%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 earnings per share. analysts anticipate that Unit will post 0.51 EPS for the current year.
Large investors have recently modified their holdings of the stock. First Trust Advisors LP increased its holdings in Unit by 147.3% in the 2nd quarter. First Trust Advisors LP now owns 110,947 shares of the oil and gas company’s stock worth $2,078,000 after buying an additional 66,090 shares during the period. Icon Advisers Inc. Co. acquired a new position in Unit in the 2nd quarter worth approximately $2,688,000. Vanguard Group Inc. increased its holdings in Unit by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 6,428,609 shares of the oil and gas company’s stock worth $120,407,000 after buying an additional 511,139 shares during the period. Systematic Financial Management LP increased its holdings in Unit by 54.5% in the 2nd quarter. Systematic Financial Management LP now owns 98,525 shares of the oil and gas company’s stock worth $1,845,000 after buying an additional 34,760 shares during the period. Finally, Cipher Capital LP increased its holdings in Unit by 85.9% in the 2nd quarter. Cipher Capital LP now owns 122,428 shares of the oil and gas company’s stock worth $2,293,000 after buying an additional 56,569 shares during the period. Institutional investors own 95.00% of the company’s stock.
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Unit 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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