Unit Corp. (NYSE:UNT) has been given an average rating of “Buy” by the seven analysts that are covering the firm. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $20.00.
Several equities research analysts have recently commented on the company. Zacks Investment Research raised Unit Corp. from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Saturday, July 30th. Seaport Global Securities reissued a “buy” rating and set a $22.00 price target on shares of Unit Corp. in a research note on Friday, June 24th. Finally, KLR Group boosted their price target on Unit Corp. from $17.00 to $19.00 and gave the stock an “accumulate” rating in a research note on Friday, September 2nd.
A number of large investors have recently bought and sold shares of UNT. Capstone Asset Management Co. raised its stake in Unit Corp. by 2.2% in the second quarter. Capstone Asset Management Co. now owns 14,743 shares of the company’s stock worth $229,000 after buying an additional 320 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Unit Corp. by 231.9% in the second quarter. BNP Paribas Arbitrage SA now owns 29,297 shares of the company’s stock worth $456,000 after buying an additional 20,471 shares during the last quarter. Avalon Advisors LLC raised its stake in Unit Corp. by 266.4% in the first quarter. Avalon Advisors LLC now owns 82,927 shares of the company’s stock worth $731,000 after buying an additional 60,295 shares during the last quarter. Arizona State Retirement System raised its stake in Unit Corp. by 0.4% in the first quarter. Arizona State Retirement System now owns 26,149 shares of the company’s stock worth $230,000 after buying an additional 100 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in Unit Corp. by 13.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 49,059 shares of the company’s stock worth $432,000 after buying an additional 5,881 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.
Unit Corp. (NYSE:UNT) opened at 18.51 on Tuesday. The firm’s 50-day moving average price is $17.21 and its 200-day moving average price is $14.17. The stock’s market cap is $953.32 million. Unit Corp. has a 12 month low of $3.90 and a 12 month high of $19.60.
Unit Corp. (NYSE:UNT) last released its earnings results on Thursday, August 4th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.07. Unit Corp. had a negative return on equity of 2.41% and a negative net margin of 95.26%. The company had revenue of $138.30 million for the quarter, compared to analysts’ expectations of $131.05 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. The firm’s quarterly revenue was down 35.5% on a year-over-year basis. On average, analysts predict that Unit Corp. will post ($0.61) earnings per share for the current year.
Unit Corp. 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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