FY2017 EPS Estimates for Unit Co. Cut by SunTrust Banks (UNT)

Unit Co. (NYSE:UNT) – Research analysts at SunTrust Banks lowered their FY2017 earnings per share estimates for Unit in a research note issued to investors on Tuesday. SunTrust Banks analyst N. Dingmann now expects that the oil and gas company will post earnings per share of $0.45 for the year, down from their previous estimate of $0.51. SunTrust Banks has a “Buy” rating and a $25.00 price objective on the stock. SunTrust Banks also issued estimates for Unit’s Q4 2017 earnings at $0.13 EPS, FY2018 earnings at $1.22 EPS and FY2020 earnings at $2.51 EPS.

Unit (NYSE:UNT) last announced its earnings results on Thursday, November 2nd. The oil and gas company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Unit had a net margin of 4.28% and a return on equity of 2.33%. The company had revenue of $188.49 million during the quarter, compared to analysts’ expectations of $189.44 million. During the same quarter last year, the business posted $0.04 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year.

UNT has been the subject of several other reports. ValuEngine cut Unit from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Cowen reissued a “hold” rating and issued a $25.00 price target on shares of Unit in a report on Sunday, September 17th. Zacks Investment Research cut Unit from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Scotiabank reissued a “hold” rating and issued a $23.00 price target on shares of Unit in a report on Friday, November 3rd. Finally, KLR Group cut Unit from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.60.

Unit (NYSE UNT) opened at $23.72 on Thursday. The company has a quick ratio of 0.66, a current ratio of 0.67 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1,230.00, a P/E ratio of 40.20 and a beta of 2.90. Unit has a 12 month low of $15.29 and a 12 month high of $30.63.

Several institutional investors and hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP lifted its holdings in shares of Unit by 152.6% in the 3rd quarter. GSA Capital Partners LLP now owns 127,324 shares of the oil and gas company’s stock valued at $2,620,000 after buying an additional 76,924 shares during the period. OxFORD Asset Management LLP raised its holdings in Unit by 66.5% during the third quarter. OxFORD Asset Management LLP now owns 62,324 shares of the oil and gas company’s stock worth $1,291,000 after purchasing an additional 24,885 shares during the last quarter. KBC Group NV raised its holdings in Unit by 156.4% during the third quarter. KBC Group NV now owns 96,221 shares of the oil and gas company’s stock worth $1,980,000 after purchasing an additional 58,688 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Unit by 3.9% during the third quarter. Dimensional Fund Advisors LP now owns 3,908,501 shares of the oil and gas company’s stock worth $80,437,000 after purchasing an additional 147,332 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Unit by 2.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 605,847 shares of the oil and gas company’s stock worth $12,469,000 after purchasing an additional 16,246 shares during the last quarter. 95.15% of the stock is owned by institutional investors and hedge funds.

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About Unit

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.

Earnings History and Estimates for Unit (NYSE:UNT)

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