Unit (UNT) Stock Rating Lowered by Zacks Investment Research

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Unit (NYSE:UNT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Saturday.

According to Zacks, “Unit Corporation is a diversified energy company engaged through its subsidiaries in the exploration for and production of oil and natural gas, the acquisition of producing oil and natural gas properties, the contract drilling of onshore oil and natural gas wells, and the gathering and processing of natural gas. Its principal areas of operations are located in the Anadarko and Arkoma Basins, which cover portions of Oklahoma, Texas, Kansas and Arkansas and has additional producing properties located in other states, including but not limited to, New Mexico, Louisiana, North Dakota, Colorado, Wyoming, Montana, Alabama and Mississippi. “

Other analysts also recently issued reports about the company. ValuEngine upgraded Unit from a “hold” rating to a “buy” rating in a report on Wednesday, November 7th. Capital One Financial downgraded Unit from an “overweight” rating to an “equal weight” rating in a report on Thursday, December 20th. Stephens initiated coverage on Unit in a report on Thursday, December 6th. They issued an “equal weight” rating and a $25.00 price objective for the company. Raymond James downgraded Unit from a “strong-buy” rating to a “market perform” rating in a report on Thursday, December 13th. Finally, MKM Partners initiated coverage on Unit in a report on Wednesday, December 5th. They issued a “neutral” rating and a $20.00 price objective for the company. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $26.43.

NYSE UNT opened at $18.15 on Friday. The firm has a market capitalization of $981.15 million, a P/E ratio of 33.61 and a beta of 2.90. Unit has a twelve month low of $13.19 and a twelve month high of $29.06. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.93.

Unit (NYSE:UNT) last posted its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.07. The business had revenue of $220.10 million during 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 period in the prior year, the business posted $0.10 earnings per share. On average, sell-side analysts anticipate that Unit will post 0.98 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. United Services Automobile Association bought a new stake in Unit during the second quarter valued at $286,000. Martingale Asset Management L P boosted its position in Unit by 6.3% during the third 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 acquiring an additional 2,415 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Unit by 30.3% during the third 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 acquiring an additional 4,500 shares during the last quarter. Millennium Management LLC bought a new stake in Unit during the second quarter valued at $13,689,000. Finally, Global Alpha Capital Management Ltd. boosted its position in Unit by 33.5% during the third quarter. Global Alpha Capital Management Ltd. now owns 480,581 shares of the oil and gas company’s stock valued at $12,524,000 after acquiring an additional 120,700 shares during the last quarter. 89.87% of the stock is currently owned by institutional investors and hedge funds.

Unit Company Profile

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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