Unit Corporation (NYSE:UNT) – Stock analysts at SunTrust Banks upped their Q2 2017 earnings estimates for Unit Corporation in a research report issued on Thursday. SunTrust Banks analyst N. Dingmann now forecasts that the oil and gas company will post earnings of $0.09 per share for the quarter, up from their prior forecast of $0.08. SunTrust Banks also issued estimates for Unit Corporation’s Q3 2017 earnings at $0.19 EPS, Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $0.69 EPS, FY2018 earnings at $1.59 EPS, FY2019 earnings at $1.39 EPS and FY2020 earnings at $2.02 EPS.
Unit Corporation (NYSE:UNT) last posted its quarterly earnings results on Thursday, May 4th. The oil and gas company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by $0.08. Unit Corporation had a negative net margin of 12.24% and a positive return on equity of 1.17%. The company had revenue of $175.70 million for the quarter, compared to the consensus estimate of $177.58 million. During the same period in the prior year, the firm posted ($0.41) EPS. The business’s revenue was up 29.0% on a year-over-year basis.
UNT has been the subject of a number of other research reports. Scotiabank set a $29.00 price objective on shares of Unit Corporation and gave the stock a “hold” rating in a research report on Monday, March 27th. KLR Group raised shares of Unit Corporation from a “reduce” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, May 5th. Zacks Investment Research cut shares of Unit Corporation from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 10th. Finally, National Securities reaffirmed a “buy” rating and set a $30.00 price objective on shares of Unit Corporation in a research report on Monday, May 8th.
Shares of Unit Corporation (NYSE UNT) opened at 18.61 on Monday. The company’s market cap is $983.04 million. Unit Corporation has a 1-year low of $11.06 and a 1-year high of $30.63. The stock’s 50 day moving average is $18.39 and its 200 day moving average is $23.17.
Several institutional investors have recently bought and sold shares of UNT. State of Tennessee Treasury Department boosted its position in Unit Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 48,274 shares of the oil and gas company’s stock worth $1,166,000 after buying an additional 7,285 shares during the last quarter. Vident Investment Advisory LLC acquired a new position in shares of Unit Corporation during the first quarter valued at approximately $2,109,000. Teachers Advisors LLC boosted its position in shares of Unit Corporation by 3.7% in the fourth quarter. Teachers Advisors LLC now owns 508,187 shares of the oil and gas company’s stock valued at $13,655,000 after buying an additional 18,085 shares in the last quarter. Alambic Investment Management L.P. boosted its position in shares of Unit Corporation by 12.6% in the first quarter. Alambic Investment Management L.P. now owns 11,600 shares of the oil and gas company’s stock valued at $280,000 after buying an additional 1,300 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Unit Corporation by 4.4% in the first quarter. Comerica Bank now owns 57,196 shares of the oil and gas company’s stock valued at $1,224,000 after buying an additional 2,390 shares in the last quarter. 92.51% of the stock is owned by hedge funds and other 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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