$216.85 Million in Sales Expected for Unit Co. (UNT) This Quarter

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Analysts expect Unit Co. (NYSE:UNT) to report sales of $216.85 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Unit’s earnings. The highest sales estimate is $217.71 million and the lowest is $216.00 million. Unit posted sales of $204.85 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.9%. The business is expected to issue its next quarterly earnings report on Thursday, February 28th.

According to Zacks, analysts expect that Unit will report full-year sales of $840.55 million for the current fiscal year, with estimates ranging from $837.09 million to $844.00 million. For the next year, analysts anticipate that the firm will post sales of $945.18 million, with estimates ranging from $914.00 million to $976.36 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Unit.

Unit (NYSE:UNT) last released its earnings results on Tuesday, November 6th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The business had revenue of $220.10 million for the quarter, compared to the consensus estimate of $212.34 million. Unit had a return on equity of 3.28% and a net margin of 14.60%. Unit’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 earnings per share.

UNT has been the topic of several research reports. Capital One Financial downgraded Unit from an “overweight” rating to an “equal weight” rating in a research report on Thursday, December 20th. ValuEngine cut shares of Unit from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Stephens initiated coverage on shares of Unit in a report on Thursday, December 6th. They issued an “equal weight” rating and a $25.00 price objective on the stock. MKM Partners initiated coverage on shares of Unit in a report on Wednesday, December 5th. They issued a “neutral” rating and a $20.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Unit from a “buy” rating to a “hold” rating in a report on Wednesday, October 31st. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Unit presently has a consensus rating of “Hold” and a consensus price target of $26.43.

Several institutional investors have recently modified their holdings of the company. United Services Automobile Association purchased a new position in Unit in the second quarter valued at approximately $286,000. Glen Harbor Capital Management LLC increased its holdings in Unit by 26.8% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 12,070 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 2,550 shares in the last quarter. Martingale Asset Management L P increased its holdings in Unit by 6.3% during the 3rd quarter. Martingale Asset Management L P now owns 40,747 shares of the oil and gas company’s stock valued at $1,062,000 after purchasing an additional 2,415 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Unit by 30.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 19,344 shares of the oil and gas company’s stock valued at $504,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Unit by 3.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 530,570 shares of the oil and gas company’s stock valued at $13,562,000 after purchasing an additional 19,782 shares in the last quarter. 89.87% of the stock is currently owned by hedge funds and other institutional investors.

NYSE UNT traded down $0.20 during trading on Wednesday, reaching $17.32. 200,432 shares of the company’s stock were exchanged, compared to its average volume of 452,275. The company has a market cap of $946.56 million, a PE ratio of 32.07 and a beta of 2.90. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.39. Unit has a fifty-two week low of $13.19 and a fifty-two week high of $29.06.

About Unit

Unit Corporation, together with its subsidiaries, operates as a diversified energy company in the United States. The company operates through three segments: Oil and Natural Gas, Contract Drilling, and Mid-Stream. The Oil and Natural Gas segment acquires, explores, develops, and produces oil and natural gas properties.

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